Guides
Trading perps on Hyperliquid, Aster and Lighter
How the venues differ, what funding and fees really cost, where your liquidation price comes from, and what a trading key can and cannot do. Each guide is dated, cites the venues' own docs, and says plainly where something can lose money.
Venues and fees
- Lighter Perp DEX: Funding, Accounts, Markets and RisksLighter perp DEX reference: hourly peer-to-peer funding, Standard/Plus/Premium accounts, markets, ZK rollup custody and risks. Data as of 9 Nov 2026.Updated
- Hyperliquid vs Aster vs Lighter: perp DEXs comparedHow Hyperliquid, Aster and Lighter differ on fees, funding intervals, settlement asset, order types and trading keys, with numbers from each venue's docs.Updated
- Hyperliquid builder fees: what apps can charge youHow Hyperliquid builder codes let an app add a fee to your orders, the 0.1% perps cap, what the approval signature allows, and how to check what you pay.Updated
- Lighter fees: Standard vs Premium accounts, what you payWhat Lighter's Standard, Plus and Premium accounts cost per trade, the latency trade-off behind the zero fee, how to switch, and what an app can add.Updated
- Lighter vs Hyperliquid: fees, funding, keys, which to useLighter and Hyperliquid side by side: taker and maker fees, hourly funding and its caps, deposits, trading keys, order types and leverage, with sources.Updated
Funding rates
- Funding Rate APR Calculator: Hourly to APR and Back | ProwConvert hourly funding to APR and back: rate × 8,760, then notional × rate × hours held. Worked examples, leverage effect and why APR is not a forecast.Updated
- Maker Taker Fee Calculator for Perps: Round-Trip CostEstimate a perp trade's full cost: maker/taker fees on notional, builder fee and funding, with a break-even formula. Examples use illustrative rates.Updated
- Hyperliquid funding rates: how hourly funding worksHow Hyperliquid computes and pays funding every hour, why the rate usually sits at 0.00125%, how to annualize it, and how Aster and Lighter differ.Updated
- Funding rate arbitrage between Hyperliquid and AsterHow a delta-neutral funding trade between Hyperliquid and Aster works, what a round trip costs, the risks, and what it really earned after costs in tests.Updated
- How do crypto arbitrage bots work, and when do they pay?How crypto arbitrage bots work on perp DEXs: the three trades, the entry rule, break-even math with real fees, and what our tests earned after costs.Updated
- Cash and carry trade in crypto: Hyperliquid spot and perpThe crypto cash and carry trade on Hyperliquid: spot long, perp short, the capital it ties up, the fees, the break-even hold and the return on $10,000.Updated
- How a funding rate bot works: rotation, modes, resultsHow a funding rate bot picks coins, when it enters, holds and switches, what a round trip costs in fees, and what Prow's Funding bot earned in our tests.Updated
- Is delta neutral risk-free? How hedged trades lose moneyDelta neutral is not risk-free. See with numbers how a hedged trade loses: one leg liquidated, negative funding, fees, price gaps and one-sided fills.Updated
Trading basics
- Trading Journal Template for Crypto Perps: Fees, FundingTrading journal template for crypto perps: columns for venue, fees, funding, leverage and liquidation price, a worked net P&L example and a weekly review.Updated
- Perp Liquidation Price Calculator: Formula and ExamplesCalculate a perp liquidation price by hand: five inputs, long and short formulas, 10x vs 40x examples, and why the venue's number can differ.Updated
- Max Leverage on a Perp DEX: Tiers and Liquidation RiskHow max leverage works on Hyperliquid, Aster and Lighter: margin tiers, maintenance margin and how to turn leverage into liquidation distance.Updated
- Perp Liquidation Alerts: Set Thresholds Across DEXsPerp liquidation alerts measure distance from mark to liquidation price. Set warning and critical levels per position on Hyperliquid, Aster and Lighter.Updated
- Trade Perps on Multiple DEXs in One App: Hedge GuideRun perps on Hyperliquid, Aster and Lighter from one app: separate deposits, trading keys, per-order venue choice and why hedge legs liquidate separately.Updated
- How to trade perps on Hyperliquid: a first-trade guideFrom an empty wallet to a first Hyperliquid perp trade: deposit USDC from Arbitrum, pick leverage and margin mode, set TP/SL, check fees and liquidation.Updated
- How to trade perps on Lighter: deposit, key, first tradeFrom a wallet to a first Lighter perp trade: the $5 deposit that opens the account, the trading key that cannot withdraw, leverage, TP/SL and funding.Updated
- Liquidation price on Hyperliquid and Aster, with examplesHow Hyperliquid and Aster decide when to liquidate, Hyperliquid's liquidation price formula with worked examples, cross vs isolated, and moving it away.Updated
Keys and safety
- Secure Crypto Trading App: 10 Key Checks for Perp DEXsVerify a secure crypto trading app for Hyperliquid, Aster and Lighter. 10 checks for trading keys: creation, signing, storage, expiry, revocation.Updated
- Non-Custodial Perp Trading: Where Your Funds StayHow non-custodial perp trading works on Hyperliquid, Aster and Lighter: where collateral sits, who signs what, and how to verify it yourself.Updated
- Hyperliquid agent wallets: why a trading key can't withdrawWhat a Hyperliquid API (agent) wallet can and can't do, its 180-day expiry and limits, what happens if one leaks, how to revoke it, and Aster's version.Updated
Trading bots
- How to run a grid bot on Hyperliquid (no code)How a grid bot works on Hyperliquid perps and spot, how to pick the range, step and stop, why grids lose in a trend, and what our tests showed.Updated
- DCA bots on Hyperliquid and Aster: settings that matterHow a DCA bot averages in with safety orders on Hyperliquid and Aster, which settings drive the risk, the martingale trap, and what our tests found.Updated
- Trading bots for Hyperliquid: Prow, Bitsgap, 3CommasHow hosted and self-hosted bots connect to Hyperliquid, who holds the key, what it can do, how they charge and show results, and where each is stronger.Updated
Prediction markets
- Polymarket, predict.fun and Hyperliquid bets in one appProw Predictions is a prediction market aggregator: Polymarket, predict.fun and Hyperliquid in one app. Compare chances and bet from your own accounts.Updated
- How Polymarket Works: Odds, Fees and How to Bet (2026)How Polymarket works: a share's price is the chance, a winning share pays $1. Fees, deposits, resolution and how to place a first bet. Checked Nov 2026.Updated
- Hyperliquid prediction markets (HIP-4) explainedHyperliquid does have prediction markets: HIP-4 outcome markets. How they work, who settles them, what they cost and how they differ from Polymarket.Updated