# Hyperliquid (slim)

> Hyperliquid is a perpetuals and spot exchange whose order book runs on its own chain. Agents trade through the REST info and exchange endpoints and WebSocket at api.hyperliquid.xyz, signing with a wallet key or an approved API wallet.

- Full: https://www.anchorterminal.com/tools/hyperliquid.md (~8,800 tokens) · this version ~2,480 tokens · JSON https://www.anchorterminal.com/tools/hyperliquid.json · canonical https://www.anchorterminal.com/tools/hyperliquid
- Index: https://www.anchorterminal.com/llms.txt · API: https://www.anchorterminal.com/api/v1/index.json · MCP: https://www.anchorterminal.com/mcp · Updated: 2026-11-04 · pricing https://www.anchorterminal.com/tools/hyperliquid#pricing · reviews https://www.anchorterminal.com/tools/hyperliquid#reviews
- Licence: CC BY 4.0, credit Anchor Terminal and link this page (https://www.anchorterminal.com/terms/#data)

**D · 50/100 · rank #1018 of 1349 · #19 in Crypto exchanges · not agent-ready · confidence medium**


Assessment: Hyperliquid's API needs no signup or key, an approved API wallet can trade but not withdraw, fees and rate limits are published with numbers, and a testnet mirrors mainnet. There is no official MCP server, OpenAPI file, status page, changelog or readable terms, and signing uses two schemes the docs say to leave to an SDK.

## Facts

- Kind: HTTP API · vendor: Hyperliquid Labs · category: Crypto exchanges · legal entity: not named · provenance 32/100
- Packages: pypi `hyperliquid-python-sdk`
- Auth: OAuth or key · pricing: Pay per use · x402: no · licence: The exchange runs on the Hyperliquid chain (HyperCore), whose node is distributed as a binary under an Apache-2.0 repository; the Python and Rust SDKs are MIT. The API servers and front end are closed
- Probe metrics: not measured yet (probes haven't run)
- Surface listed: The REST API at api.hyperliquid.xyz (POST /info and POST /exchange) and its WebSocket, with the official Python SDK, read from the GitBook docs (Markdown twins), the hyperliquid-dex repositories, PyPI and the MCP registry on 3 November 2026. No wallet was connected and no action was signed
- MCP server: None found. Checked the docs (no mention), the hyperliquid-dex GitHub organisation (11 repositories, none an MCP server) and the official MCP registry, whose search returns 23 entries from third parties only, among them io.github.junct-bot/hyperliquid-mcp (hosted), io.github.pipeworx-io (hosted and npm), io.github.Br0ski777 (x402-paid) and io.github.R2Rlabs/hyperliquid-reins (a stdio server that holds a private key). None is Hyperliquid's
- What runs on chain: HyperCore, the margin and matching engine state, runs under HyperBFT consensus with the order book on chain; the docs give a 0.2 second median end-to-end latency for co-located clients and about 200,000 orders a second. API servers are off-chain relays that follow a node, serve REST and WebSocket and forward transactions. HyperEVM shares the state for smart contracts. Fees go to HLP, the assistance fund (which buys and burns HYPE) and deployers
- Key permissions: No API keys. API wallets approved by `approveAgent` sign L1 actions (orders, cancels, modifies, margin settings, TWAPs, vault transfers) and the agent variants `agentSendAsset` (destination must equal source) and `cDeposit2`. Withdrawals, USDC and spot sends to other addresses, builder fee approvals and abstraction changes are user-signed by the master key. One unnamed and several named API wallets; approving a new one deregisters the old; expiry optional. No IP or address allow-list
- Rate limits: Per IP 1,200 weight a minute (actions 1 plus floor(batch/40), most info 20, l2Book and clearinghouseState 2, userRole 60, extra weight per 20 items on history calls). Per address one action per 1 USDC traded since inception after 10,000 free, cancels up to min(limit + 100,000, 2 times limit), then one request every 10 seconds. WebSocket 10 connections, 30 new a minute, 1,000 subscriptions, 2,000 messages a minute, 100 inflight posts. EVM JSON-RPC 100 a minute
- Testnet: https://api.hyperliquid-testnet.xyz with the same API. The faucet at app.hyperliquid-testnet.xyz/drip gives 1,000 mock USDC to an address that has deposited on mainnet
- Countries: Unchecked. The terms at app.hyperliquid.xyz/terms draw by script and hyperliquid.xyz/terms answered 403. Third-party pages found by search describe restricted persons in the United States, Ontario and sanctioned jurisdictions, applied at the front end by Hyperliquid Labs; not confirmed first-hand
- Fees: Perpetuals 0.045% taker and 0.015% maker at tier 0, to 0.024% and 0% above $7 billion of 14-day volume; spot 0.070% and 0.040% to 0.025% and 0%. Maker rebates -0.001% to -0.003% by maker share. Staking discounts 5% (Wood, more than 10 HYPE) to 40% (Diamond, more than 500,000). Spot volume counts double. HIP-3 deployers keep up to 50% of fees on their assets
- WebSocket: wss://api.hyperliquid.xyz/ws with subscriptions (trades, l2Book, user events, fills, candles) and post requests that carry info and exchange payloads, with timeouts and heartbeats documented. No FIX
- Terms on automated trading: Unchecked, the terms were unreadable. The API docs assume programmatic trading throughout, with market-making, self-trade prevention and builder-code pages
- Errors: Per-order status strings (Tick, MinTradeNtl, PerpMargin, ReduceOnly, BadAloPx, IocCancel, MarketOrderNoLiquidity, Oracle, PerpMaxPosition and others) and MissingOrder on cancel; a batch-level error rejects the whole batch. No HTTP status or 429 shape documented for rate limits
- SDKs: hyperliquid-python-sdk 0.24.0 (MIT, Alpha, 4 June 2026, 1,873 stars, 112 open issues) and hyperliquid-rust-sdk (MIT, last pushed 21 October 2025) from hyperliquid-dex; TypeScript SDKs by nktkas and nomeida and a Rust hypersdk are community work linked from the docs; CCXT covers it
- Legal entity: Not established. The docs name Hyperliquid Labs as the core contributor, self-funded, and the Hyper Foundation as owner of bug bounty submissions (bugbounty@hyperfoundation.org); hyperfoundation.org draws by script and no terms page was readable
- Prices: Perpetuals taker fee, tier 0 0.04% percentage fee; Spot taker fee, tier 0 0.07% percentage fee; Bridge withdrawal $1 per transaction

- Scores: Reliability 40, Performance pending, Schema & documentation 42, Agent ergonomics 70, Security & auth 64, Payments & pricing 55, Task success pending, Maintenance & community 39, Transparency & trust 26 · total over the 7 assessed categories
- Why: Reliability, Read with the hosted lines on the REST API at api.hyperliquid.xyz, the surface an agent calls; the chain behind it is noted under details. · Schema & documentation, No OpenAPI or other machine-readable contract; request and response shapes are tables and JSON examples in the docs (0 of 25). · Agent ergonomics, An API, read for response sizing. · Security & auth, No shared secrets. · Payments & pricing, No machine payment protocol (0). · Maintenance & community, Read as a closed hosted service with open SDKs. · Transparency & trust, The editorial half.
- Sources: 25, open questions: 8, both in the full twin
- Capabilities: exchange.derivatives, exchange.spot-trading, exchange.market-data, exchange.balances, exchange.transfers, exchange.staking, market.crypto, wallet.onchain
- JSON: https://www.anchorterminal.com/api/v1/tools/hyperliquid.json
- Verify (for the vendor): the badge `https://www.anchorterminal.com/badges/hyperliquid.svg` or a link to https://www.anchorterminal.com/tools/hyperliquid from a page on hyperliquid.xyz or one of its subdomains, or the README at the root of github.com/hyperliquid-dex/hyperliquid-python-sdk, then `POST https://www.anchorterminal.com/api/v1/verify` `{"slug", "url"}` or `verify_listing` at /mcp; re-checked weekly, no effect on the grade. Snippets in the full twin.
- Support: Discord https://discord.gg/tPw7CXqYAe; https://hyperliquid.gitbook.io/hyperliquid-docs/support/read-me-support-guide; more in the full twin

## Before you call it

1. Generate a fresh API wallet, approve it with `approveAgent` with a name and expiry, sign with it, and query with the master address, never the agent address
2. Use the Python SDK's `sign_l1_action` and `sign_user_signed_action`; mixing the two, field order in msgpack or an uppercase address gives "User or API Wallet ... does not exist"
3. Set a `cloid` on every order and read the per-order `statuses` array; one batch-level error rejects the whole batch
4. Budget address limits by volume (one action per 1 USDC traded after 10,000); batch orders to lower IP weight, and use WebSocket for data
5. Arm `scheduleCancel` before unattended trading so open orders are cancelled if the agent stops

## Connect

```bash
pip install hyperliquid-python-sdk
```

```bash
curl -X POST https://api.hyperliquid.xyz/info -H 'Content-Type: application/json' -d '{"type":"l2Book","coin":"BTC"}'
```
Full config and headless snippets are in the full page. Through letme (picks today, calling later): https://letme.dev/hyperliquid

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| --- | --- | --- | --- | --- |
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## Panel reviews (0, desk reviews from public material, no calls made)