Trade
perps

Perpetual futures, AKA perps or perpetual swaps, are a type of derivative. In other words, perps are a way of trading futures that let you speculate on the future price of an asset without owning it. Go long if you think a token or stock’s price will rise, or short if you think it will fall. If your bet is correct, you profit; if not, you take a loss. 

Unlike traditional futures, perpetual contracts do not expire, so you can hold your position for as long as you wish. Because perps use leverage, both gains and losses can be amplified. Using leverage increases the risk of liquidation, which happens when your collateral is lost due to adverse price movement. 

To go long on a cryptocurrency or selected stock with MetaMask perpetual futures through Hyperliquid:

1. Open your position.

2. Choose long.

3. Tap confirm.

When you go long on a token or stock’s price with MetaMask perps, you can profit from a rise in the asset’s value. In other words, if the price of the asset goes up, you can close your position at the higher level and keep that difference as profit. Because perpetual contracts don’t expire, you’re free to hold your trade for as long as you like, and exit when you choose.

To go short on a cryptocurrency or selected stock with MetaMask perpetual futures through Hyperliquid:

1. Open your position.

2. Choose long.

3. Tap confirm.

If you go short on a token or stock’s price via MetaMask perpetual futures, you can profit from a decline in the cryptocurrency’s value. In other words, if the price of the asset goes down, you can close your position at a lower level, and keep that difference as profit. Unlike conventional futures, perpetual contracts don’t expire. You can keep your trade open for as long as you like, and exit when you choose.

MetaMask currently supports perpetuals trading for select US equities, including Nvidia (NVDA), Tesla (TSLA), Apple (AAPL), Microsoft (MSFT), Palantir Technologies (PLTR), Robinhood Markets (HOOD), Circle Internet Financial (CRCL), Meta Platforms (META), Amazon (AMZN), Alphabet (GOOGL), SharpLink Gaming (SBET), Advanced Micro Devices (AMD), Coinbase Global (COIN), and Netflix (NFLX).

MetaMask Mobile App supports access to Hyperliquid's perpetual trading service. Update MetaMask App on iOS or Android to version 7.56 or higher, and start trading perpetual futures on today. Perpetual futures are not supported on MetaMask Extension yet.

Perpetual trading through Hyperliquid is not available to users in the following regions: USA, UK, Ontario (Canada), Belgium and countries on the USA sanctions list.

Open MetaMask, navigate to any perpetual market, and tap Add funds. You can deposit any token on any EVM chain, which will be swapped into USDC on Hyperliquid network. The transaction may take a few minutes to process. The minimum funding value is $10. Note: MetaMask doesn't charge any fee on these transactions.

You can fund your MetaMask perps account with any token on any EVM chain. Solana tokens are not supported yet.

All perpetuals trades within MetaMask are powered by Hyperliquid, a leading Perpetuals provider. You can trade over 150 tokens, including BTC, ETH, SOL, and more. (Note: Use of Hyperliquid is subject to their terms and conditions.) Currently supported equities include Nvidia (NVDA), Tesla (TSLA), Apple (AAPL), Microsoft (MSFT), Palantir Technologies (PLTR), Robinhood Markets (HOOD), Circle Internet Financial (CRCL), Meta Platforms (META), Amazon (AMZN), Alphabet (GOOGL), SharpLink Gaming (SBET), Advanced Micro Devices (AMD), Coinbase Global (COIN), and Netflix (NFLX).

You can trade perpetual futures with Hyperliquid through the MetaMask Mobile App on iOS or Android version 7.56 or higher. For more details about the regions where you can trade perps on MetaMask, head to our Support Page.

Perpetuals trading involves trading contracts tied to the price moves of an asset without owning the underlying asset. It also allows you to trade with leverage, which means you can have a bigger exposure to the price than the collateral you put in, but you can also lose your collateral faster—as soon as the token price reaches your liquidation price.

Spot trading means buying the underlying asset. You receive what you pay for and lose your investment if the token price drops to $0.

Yes, MetaMask Perps trading through Hyperliquid is designed for users at every level, including those new to crypto or derivatives. Beginners can easily get started by following our steps for opening, funding, and placing your first trade. All interface prompts are beginner-friendly, guiding new traders from setup through to position management.

Leverage allows you to increase your trading exposure compared to the amount you deposit, known as margin. For example, with 10x leverage, a $1,000 deposit lets you open a $10,000 position. This means you can trade larger positions than your account balance would otherwise permit, multiplying both your potential gains and losses.

MetaMask Perps via Hyperliquid supports up to 40x leverage on supported assets. The exact leverage limit may vary depending on the market and liquidity.

Before opening a position, you can select your desired leverage multiplier directly in the MetaMask Perps interface. Leverage is calculated as the ratio between your trade size and your margin—for example, 10x leverage means your trade size is ten times your margin deposit.

No, leverage is fixed for each position once you’ve confirmed your trade. You can always set different leverage levels on new positions, but must close an existing position to adjust its leverage.

MetaMask Perps powered by Hyperliquid does not require KYC for eligible jurisdictions. Users should check local availability and regional guidance about crypto futures trading on MetaMask Support.

• Futures contracts have a set expiration date and settle at a future price.

• Perpetual futures (perps) are a special type of futures contract—uniquely, they have no expiry, so you can hold positions as long as desired, subject to funding and margin.

• Spot trading means buying the actual asset for immediate delivery, with no leverage or contract expiration.

Our MetaMask Support Perps hub includes a glossary explaining key trading concepts like [margin], [leverage], [long/short], [position], and [funding rates]. Start there if you’re new or want to clarify specific terms. We also have a leverage and liquidation calculator tool for you to explore.

Futures contracts are agreements to buy or sell an asset at a specific, set price in the future. Perpetual futures, AKA perps, have no expiration date. Options give you the right, but not the obligation, to buy or sell at a set price before the contract end date.

Yes, MetaMask Perps via Hyperliquid offers trading on BTCUSDT perpetual contracts and over 150 tokens, including Bitcoin, ETH, and SOL.

MetaMask Perps is a decentralized platform that lets users trade perpetual futures without KYC (where permitted), supporting crosschain tokens and no custody by a centralized exchange.

Crypto liquidation refers to the automatic closure of a position when your margin balance becomes too low to support your leveraged trade. This process ensures you cannot lose more than your deposited margin.

To trade perps, make sure you're using the latest version of MetaMask Mobile App. Getting started is easy. Just update MetaMask App on iOS or Android to version 7.56 or higher. You can fund your perpetuals wallet with any token on any EVM chain.

Yes, please see our fee table here.