How to trade perps in Phantom wallet? (Hyperliquid integration)

Accessing Perpetuals via Phantom Interface

1. Open the Phantom wallet application on iOS or Android and ensure it is updated to version 7.3.2 or later.

2. Navigate to the “Trade” tab located at the bottom navigation bar—this section now hosts native Hyperliquid-powered perpetuals.

3. Select “Perps” from the top menu bar; the interface will load available markets including BTC-USD, ETH-USD, SOL-USD, and HYPE-USD.

4. Tap any market to enter its dedicated trading view, where real-time order book depth, candlestick chart, and position management tools are rendered directly in-wallet.

5. Confirm network selection: Phantom auto-switches to HyperCore when entering perps—no manual RPC configuration is required.

Placing and Managing Positions

1. Enter desired leverage using the slider ranging from 1x to 50x; values above 25x trigger a mandatory risk acknowledgment prompt.

2. Input size in either USDC or base asset units; the wallet displays real-time margin impact and liquidation price before submission.

3. Choose order type: limit, market, stop-market, or take-profit; all orders execute fully on-chain with cryptographic proof visible in transaction history.

4. Submit order—the wallet signs locally and broadcasts directly to HyperCore; confirmation appears within 0.3 seconds on average.

5. Active positions appear under “Open Positions” with live PnL, entry price, funding rate, and one-click close functionality.

Security and Control Layers

1. All private keys remain encrypted on-device; Phantom never transmits signing material to external servers during perps execution.

2. Sub-account isolation is enforced: each perpetual position resides in a unique on-chain sub-account tied to the user’s main wallet address.

3. Recovery phrase backup is validated during first perps use; failure to confirm correct phrase blocks access to trading functions.

4. Transaction simulation runs client-side prior to signing—users see exact slippage, fee breakdown, and execution path before approval.

5. No third-party custody occurs at any stage; USDC collateral stays in user-controlled HyperCore vaults, not pooled smart contracts.

Funding and Settlement Mechanics

1. Funding payments occur every 8 hours and are calculated transparently using the index price and mid-price of the order book.

2. Negative funding rates transfer from longs to shorts; positive rates move from shorts to longs—both reflected instantly in wallet balance.

3. Settlement is atomic: realized PnL updates wallet USDC balance immediately upon position closure without intermediate settlement layers.

4. HLP vault deposits are separate from perps collateral; users may allocate USDC to HLP independently via the “Earn” tab without affecting open positions.

5. No forced liquidations occur off-chain; liquidation triggers are executed by HyperCore validators and recorded immutably on the ledger.

FAQ Section

Q: Can I use Phantom perps while connected to Solana mainnet?Yes. Phantom maintains concurrent connections to Solana and HyperCore; switching between chains does not interrupt active perps positions.

Q: Are stop-loss orders guaranteed execution even during high volatility?All stop orders are placed on-chain and monitored by HyperCore’s validator set; no centralized relay or off-chain watcher is involved.

Q: Does Phantom display real-time funding rate data before opening a position?Yes. The funding rate for the selected market appears beside the leverage selector, updated every 60 seconds with historical 24-hour trend indicators.

Q: Can I withdraw USDC used as perps collateral directly to an external wallet?No. Collateral must first be freed by closing or reducing positions; only then can USDC be transferred out via HyperCore’s native bridge to Ethereum or Solana.