Take profit and stop loss orders on Hyperliquid

Quick steps

1. Open the position or order form. Attach TP/SL to a new order in the order form, or add it to an open position from the Positions tab.
2. Set trigger prices. Enter a take-profit price above (for longs) and a stop-loss price below your entry, or the reverse for shorts.
3. Choose market or limit. Market fills more reliably; a limit price caps slippage but may not fill in a fast move.
4. Check the size. Leave the default to cover the whole position, or set a fixed size for partial exits.
5. Confirm and verify. Check that the orders appear under open orders with the right trigger and size.

How Hyperliquid TP/SL works

• Trigger: the mark price triggers TP/SL orders, not the last trade. The mark price combines external exchange prices and Hyperliquid's book.
• Execution: by default a triggered TP or SL is a market order with a 10% slippage tolerance. You can set a limit price instead to control slippage, at the risk of not filling.
• Position TP/SL (from the position): defaults to the whole position and resizes as it changes. If you set a specific size it stays fixed.
• Order TP/SL (from the order form): fixed to the size of the parent order. The child orders are only placed if the parent fully fills (or partially fills and is then cancelled for insufficient margin). Cancel a partially filled parent and its children are cancelled too.
• Reduce only: a reduce-only order can only shrink an existing position and will never flip you into the opposite direction. Use it for manual exits and scaled take-profits.

Hyperliquid also offers stop market, stop limit and trailing stop orders. A trailing stop follows the mark price as it moves in your favour and sends a market order when price retraces by a set distance or percentage.

Worked example

Hypothetical long: 2 units of an asset at $4,000 (notional $8,000), stop loss at $3,800, take profit at $4,400. Base tier fees.

The reward-to-risk is about 2:1, so the trade breaks even over time if it wins a little more than one time in three. A limit take-profit that rests on the book before it fills pays the maker rate (0.015% at the base tier) instead. Check scenarios with the PnL calculator and size the trade with the position size calculator.

Placing them well

• Put the stop where the idea is wrong, beyond obvious levels where many stops cluster, and always inside your liquidation price.
• Prefer market stops for protection. A stop-limit can be skipped entirely in a gap, leaving you with the full position.
• Scale out with fixed-size reduce-only orders, for example half at the first target and a trailing stop on the rest.
• Re-check after adding to a position. Order TP/SL from an earlier entry does not cover the new size; position TP/SL with default size does.

Short positions

Everything is mirrored for shorts: the take profit sits below entry and the stop loss above it. Remember that a short also pays funding when funding is negative and receives it when positive, which shifts the true break-even of a long-held short. Include it in the funding calculator before choosing targets far away in time.

Limits to know

Stops do not guarantee a price. In fast markets a market stop can fill well past the trigger, up to the 10% tolerance. A stop also does nothing for risks outside the order book, such as a market being delisted or settled by validators, as happened with JELLY in March 2025.

Frequently asked questions