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By the end of this guide you will have found a stock, index, commodity or FX perp on Hyperliquid, checked who runs it and what collateral it uses, and opened a small position with a stop-loss. These markets are HIP-3 perps: perps listed on Hyperliquid by independent deployers. Their symbols carry the deployer’s prefix, for example xyz:NVDA. A stock perp gives price exposure only, with leverage, funding and liquidation risk; you never hold a share or a token. If you want to hold a token instead, see Tokenized stocks and FX tokens.
Live Transactions table on openfinance.tech with Hash, Action, Asset, Amount and User columns, listing long and short orders on assets such as xyz:AMZN, xyz:MU and xyz:DELL

Live Transactions shows HIP-3 orders landing on Hyperliquid, with the deployer prefix on each asset

What you need

  • USDC in your Hyperliquid account. See Fund each venue.
  • The ticker you are interested in, and a plan for size, leverage and the stop.

Steps

1

List the markets in a category

Categories are crypto, stocks, commodities, indices, fx and preipo. Swap “stock” for “FX” or “commodity” to browse the others.
2

Check the one you want

The same ticker can be listed by more than one deployer. Ask about the exact symbol:
Low open interest and volume mean a thin book and more slippage. Most HIP-3 markets use USDC as collateral; a few use USDH, and the agent tells you if yours does.
3

Get USDH only if the market needs it (moves money)

Skip this step for markets that use USDC.
4

Preview the order with a stop

5

Place it (moves money)

Reply yes if the summary matches. Then verify:
One account summary covers the main dex and every HIP-3 dex, so the position shows with the rest.
6

Close when you are done (moves money)

Every order needs your confirmation, and nothing here is financial advice. Leverage can lose your whole margin.

Example prompts for FX and commodities

The same steps work beyond stocks. Start with prompts like these:

Check it worked

  • The position appears under the right dex prefix with the size you approved.
  • The stop-loss is resting as a reduce-only trigger order.

Common mistakes

  • Mixing up deployers. xyz:NVDA and another prefix’s NVDA are different markets with different books and terms. Always name the full symbol.
  • Expecting a share. A perp has no shareholder rights, dividends or delivery.
  • “Insufficient collateral” on a USDH market. The error names the asset the market needs. Swap USDC to USDH on Hyperliquid spot, then retry.
  • Using the readable symbol in your own code. Orders need the numeric asset index from the market metadata. See the Hyperliquid tool.
  • Sizing from the headline price. Check the mid price on Hyperliquid, which can differ from the stock’s last close.

Next guides

Perp with take-profit and stop-loss

Exits in depth.

Live Transactions

Watch large orders as they land.