Trading

Markets launched through Perps.fun are standard HIP-3 listings on Hyperliquid. Trading happens on Hyperliquid's interfaces and APIs; app.perps.fun handles the launchpad surfaces (proposal, vault, portfolio, discovery) and is not a trading venue itself.

Where users trade

Once a market is live, traders access it the same way as any other Hyperliquid perpetual: through Hyperliquid's web and mobile apps, or through Hyperliquid's public REST and WebSocket APIs. Standard order types apply (market, limit, stop, take-profit). The leverage cap matches the proposal, at most 10x.

For trading mechanics, see Hyperliquid's trading documentation.

app.perps.fun surfaces

Post-launch, app.perps.fun is where proposers and backers interact off-venue:

• /markets lists every market launched through Perps.fun with filters for status (live, completed, failed) and sort orders.
• The vault page for each market shows raised, target, deadline, shareholders, cumulative fee revenue, and per-user claimable fees. Deposit, refund, and claim controls live here.
• /portfolio surfaces the connected wallet's deposits, share balances, and claimable fees across every vault it participates in.
• /profile/[wallet] shows public profile data for any wallet, including markets proposed or backed and total fees earned.
• /leaderboard ranks top backers, proposers, and earners.

Next

Fees and revenue covers the fee distribution mechanics.