What is Bitcoin?
Bitcoin is the first cryptocurrency, launched in 2009 by the pseudonymous Satoshi Nakamoto. It runs on its own proof-of-work blockchain, where miners secure the network and earn new coins plus transaction fees. People use BTC as a store of value and for payments that need no bank or central issuer.
The BTC perpetual tracks the price of Bitcoin, settles in USDC and never expires. It trades on Hyperliquid's main exchange. You can go long or short with up to 40× leverage, around the clock.
Contract details
- Market
BTC, main exchange- Tracks
- The price of Bitcoin
- Settlement
- USDC, no expiry
- Leverage
- 40× up to $150.00M, 20× above $150.00M
- Margin
- Cross or isolated
- Size step
- 0.00001 BTC
- Funding
- Paid every hour
- Fees on Hypurr Desk
- 0.07% market, 0.04% limit
- Trading hours
- Around the clock, every day
Size a BTC trade from its stop
Hypurr Desk asks where your stop goes and how much of your account you are willing to lose there, then works out the size. An example at 77,619, from when this page was built:
- Account
- $1,000.00
- Risk
- 1% = $10.00
- Stop
- 2% below entry, at 76,067
- Size
- 0.00602 BTC ($467.26)
- Loss at the stop, fees included
- $9.99
- Leverage
- 23× cross, $20.32 margin
The stop sets the loss, not the leverage: leverage only decides how much margin the position ties up. Move the stop and the size follows, so a wider stop means a smaller position and the same loss. The stop is placed on the exchange with the entry. How risk sizing works.
Questions about BTC
What is the maximum leverage on BTC?
40×. Larger positions get less: above $150.00M the maximum is 20×. Hypurr Desk sizes each order from your stop, so the leverage follows from how much you choose to risk.
How often is funding paid on BTC?
Every hour. When the rate is positive, longs pay shorts; when it is negative, shorts pay longs. The current rate is shown at the top of this page.
What does it cost to trade BTC on Hypurr Desk?
At the exchange's base tier, 0.07% of the position value for market orders and 0.04% for limit orders that rest on the book, including the 0.025% Hypurr Desk fee. There is no subscription and no sign-up.
Do I own BTC when I trade this market?
No. A perpetual tracks the price of Bitcoin and settles gains and losses in USDC. You never hold the coins, and positions can be closed out if losses use up their margin.
