Documentation

General & Security

Q: What is Hyperliquid?

Hyperliquid is a decentralized Layer-1 (L1) exchange built on the HyperCore blockchain. It offers high-speed execution for crypto perpetuals, tokenized stocks, and commodities without requiring a centralized intermediary. Trades settle fully on-chain in less than a second, executing your orders without waiting for network confirmations.

Q: Does Skalpy store my private key?

Skalpy does not store your private key. It is used once during setup to authorize a dedicated API Agent on the network and is never retained. Your keys remain strictly under your control.

Q: Can Skalpy withdraw my funds?

No. The API Agent authorized during setup has strictly limited permissions. It can only execute trades and place orders in the Skalpy. It cannot transfer or withdraw assets from your Hyperliquid account.

Q: Should I use my main wallet to connect?

Use a dedicated EVM wallet for Hyperliquid trading. Do not connect your primary storage wallet or any address containing long-term holdings to the terminal. This follows standard Web3 security practices, isolating your main funds completely from active day-trading environments.

Setup & Connection

Q: What is an API Agent?

An API Agent is a secondary wallet used specifically for external terminal execution. Instead of signing every individual trade with your main wallet, you authorize the API Agent once. The agent then executes high-speed trades on your behalf without requiring manual approval for each action. It possesses zero withdrawal rights.

Q: What are the prerequisites to connect?

Your Hyperliquid account must be active and funded. Deposit at least 15 USDC via the Arbitrum network in the Hyperliquid UI. This amount covers the 10 USDC minimum order size, the account initialization fee, and withdrawal costs. Skalpy cannot connect to unfunded accounts.

Q: How do I connect my Hyperliquid account?

The connection process is triggered directly from the app. Select any Hyperliquid pair in the Skalpy workspace, or go to the “Balance” screen, and click Connect. Paste your private key to authorize the Skalpy API Agent, and the terminal will synchronize your balances automatically.

📖 Learn more in our detailed connection guide.

Q: Why am I getting an "Account not found" error?

This error occurs when the connected account lacks on-chain funds. You must deposit USDC to initialize the account on the HyperCore blockchain before generating an API Agent. Verify that your deposit from Arbitrum has settled.

Q: Can I use the same connection on multiple devices?

Do not use the same API Agent across multiple simultaneous instances. The Hyperliquid network limits concurrent requests from a single key, and violating this will cause order placement errors.

Trading & Account Settings

Q: What markets can I trade on Hyperliquid?

Skalpy supports all core and third-party markets. You can trade crypto perpetuals, spot assets, and HIP-3 builder-deployed markets like tokenized stocks, oil, and gold. Select the asset ticker directly from your workspace, watchlist and quotes (depending on the platform).

Q: Are there minimum order requirements?

Yes. Hyperliquid enforces a protocol-level minimum order size of 10 USDC. The exchange itself will reject any order placement where the notional value falls below this strict threshold.

Q: Which account settings should I configure?

We recommend using Unified Account Mode for maximum capital efficiency. Open the Hyperliquid UI, navigate to Settings (⚙️), and uncheck Disable Unified Account Mode. This pools your portfolio margin to support open positions across different assets.
Uncheck Disable HIP-3 Dex Abstraction if you plan to trade builder-deployed commodities.