Trade perpetual futures on Hyperliquid with up to 50x leverage across 100+ assets, all from your agent wallet.
Overview
Perpetual futures let you go long or short on crypto assets with leverage, without owning the underlying token. Unlike spot trading where you buy and hold tokens directly, perps are synthetic contracts that track an asset's price. You can profit from price drops, amplify gains with leverage, and trade assets across chains without bridging.
Boba Agents trade perps exclusively on Hyperliquid, a fully on-chain order book DEX with CEX-level speed and liquidity. Your agent wallet handles all interactions with Hyperliquid automatically.
What you can do with Perpetuals:
Go long (bet price goes up) or short (bet price goes down)
Use up to 50x leverage to amplify positions
Trade 100+ assets including BTC, ETH, SOL, and altcoins
Set stop-losses and take-profits for automatic risk management
Place limit, stop, and conditional orders
Monitor funding rates for carry trade opportunities
How It Works
Account Provisioning
Your Hyperliquid account is automatically. No separate signup or API keys needed.
Agent Wallet
Your agent wallet manages everything on Hyperliquid:
Deposits: Funds from your agent wallet are used as margin
Margin: Collateral is held in USDC on Hyperliquid
Settlement: All PnL is settled in USDC
Withdrawals: Funds return to your agent wallet when you close positions
Perps vs Spot
Feature
Spot Trading
Perpetual Trading
Direction
Buy only (long)
Long or short
Leverage
1x (no leverage)
Up to 50x
Chains
Solana, Base, ETH, Arb
Hyperliquid (any asset)
Settlement
Token received
USDC PnL
Funding
None
Periodic funding payments
Expiry
None
None (perpetual)
Key Concepts
Leverage
Leverage amplifies your exposure. With 10x leverage, a $100 margin controls a $1,000 position:
Leverage
Margin Required
Position Size
10% Price Move
1x
$1,000
$1,000
±$100
5x
$200
$1,000
±$100 (±50% on margin)
10x
$100
$1,000
±$100 (±100% on margin)
20x
$50
$1,000
±$100 (±200% on margin)
Higher leverage means higher liquidation risk. A 10x long gets liquidated at roughly a 10% price drop.
Margin Modes
Mode
Behavior
Best For
Cross Margin (default)
All positions share your account balance as collateral
Most traders, positions support each other
Isolated Margin
Each position has its own collateral, isolated from others
Risk management, limits max loss per position
Funding Rate
Perpetual contracts use funding rates to keep the contract price close to the spot price:
Positive funding → Longs pay shorts (market is bullish)
Negative funding → Shorts pay longs (market is bearish)
Funding is exchanged between traders periodically
You can earn funding by taking the opposite side of a crowded trade
Liquidation
If your position's losses approach your margin, Hyperliquid will liquidate (force close) your position to prevent negative balance:
Cross margin: Liquidation considers your total account balance
Isolated margin: Liquidation only uses the margin assigned to that position
Always use stop-losses to exit before liquidation
Quick Start Examples
Your First Long
Prompt
Interpretation
"Long $100 of BTC"
Opens a $100 long on BTC at market price, default leverage
"Buy $500 of ETH perps with 5x leverage"
Opens a 5x leveraged ETH long, $500 notional on $100 margin
"Go long SOL at $150 with a stop at $140"
Limit long at $150 with automatic stop-loss at $140
Your First Short
Prompt
Interpretation
"Short $200 of ETH"
Opens a $200 short on ETH at market price
"Short BTC with 10x leverage, $1000"
10x short, $1000 notional on $100 margin
"Short SOL at $160 with TP at $140"
Limit short at $160 with take-profit at $140
Check Your Positions
Prompt
Interpretation
"Show my perp positions"
View all open positions with unrealized PnL
"How's my BTC position doing?"
Check specific position with entry price, mark price, PnL
"Close my ETH short"
Close a specific position at market
"Close all positions"
Close everything at market
Amount Specification
All perp orders are placed in USD by default. With leverage, the margin required is amount / leverage:
