Spot trading
Buy and sell real tokens on Hyperliquid and Aster. No leverage, no liquidation, no funding. How the spot ticket, balances and fees work.
On this page
On spot you buy and sell the token itself. When you buy HYPE with USDC, you own the HYPE. There is no leverage, no liquidation and no funding. The most you can lose is what you paid.
Spot trading works on Hyperliquid and Aster. Lighter spot pairs are view only in Prow.
| Spot | Perps | |
|---|---|---|
| You own the token | Yes | No, you hold a contract |
| Leverage | No | Up to the market max |
| Liquidation | No | Yes |
| Funding | No | Yes, every 1 to 8 hours |
| Short selling | No, you can only sell what you hold | Yes |
| Balance used | Spot balance | Perps balance (margin) |
Find a spot pair
On Trade, tap the market name next to the price (or press ⌘ K) to open the market list, then pick the Spot tab. Pairs are named base/quote, for example HYPE/USDC. The first token is what you buy or sell, the second is what you pay with.
Pick a pair to open it on Trade, with its chart, order book and the spot ticket.
Place a spot order
Pick the venue
If the pair trades on Hyperliquid and Aster, choose one in Venue.
Choose Buy or Sell
Buy spends the quote token (for example USDC). Sell spends the base token (for example HYPE).
Choose Market or Limit
Market fills now. Its price is capped at 0.5% from the current price. Limit fills at your price or better. Turn on Post-only to make sure a limit order only rests in the book.
Enter the amount
Type it in the base token or the quote token. Tap the unit to switch. Or drag the slider to use a share of what is Available.
Check and place
Order value is what you spend. You receive is what you get after fees. On a phone, a market order opens Review order with what you pay, the fees and the Worst price before it goes out. On a computer it is sent from the ticket.
Your open spot orders and token balances are in Open orders and Balances under the chart.
Spot uses your spot balance
Spot orders are paid from your spot balance, not from your perps margin. If the money is on the perps side, move it first.
- Hyperliquid: if your spot balance is short, the ticket shows how much you have on perps with a Move to spot link. The move is signed by your wallet. If your Hyperliquid account is a unified account, there is one balance and nothing to move.
- Aster: the ticket shows how much sits in Aster futures with a Move to spot link. The move stays inside your own Aster account and needs no wallet prompt. When selling BNB that is futures collateral, the link reads Move BNB to spot. Other assets keep a link to asterdex.com.
See Move funds between perps and spot.
What spot does not have
TP/SL, trailing stops, price alerts and chart drawings are for perps only. On spot, use a limit sell to take profit at a target.
Fees
Spot fees are separate from perps fees. Base tier:
| Taker | Maker | |
|---|---|---|
| Hyperliquid spot | 0.07% | 0.04% |
| Aster spot | 0.07% | 0.02% |
On Hyperliquid, a buy pays the fee in the token you receive and a sell pays it in the quote token.
The Prow fee on spot is 0% until Dec 31, 2026. After that it applies on Hyperliquid spot sells only, at 0.025%. There is no Prow fee on Aster spot. See Fees.
Each pair has a minimum order. On Hyperliquid it is 10 USDC.
Last updated