What is Ether?
Ether is the native currency of Ethereum, a blockchain for smart contracts launched in 2015. ETH pays the gas fees for every transaction and app on the network, and it is widely used as collateral in decentralized finance. Since 2022 Ethereum uses proof of stake, so validators lock up ETH to secure the chain and earn rewards.
The ETH perpetual tracks the price of Ether, settles in USDC and never expires. It trades on Hyperliquid's main exchange. You can go long or short with up to 25× leverage, around the clock.
Contract details
- Market
ETH, main exchange- Tracks
- The price of Ether
- Settlement
- USDC, no expiry
- Leverage
- 25× up to $100.00M, 15× above $100.00M
- Margin
- Cross or isolated
- Size step
- 0.0001 ETH
- Funding
- Paid every hour
- Fees on Hypurr Desk
- 0.07% market, 0.04% limit
- Trading hours
- Around the clock, every day
Size a ETH 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 2,255.4, from when this page was built:
- Account
- $1,000.00
- Risk
- 1% = $10.00
- Stop
- 2% below entry, at 2,210.3
- Size
- 0.2071 ETH ($467.10)
- Loss at the stop, fees included
- $10.00
- Leverage
- 20× cross, $23.36 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 ETH
What is the maximum leverage on ETH?
25×. Larger positions get less: above $100.00M the maximum is 15×. 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 ETH?
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 ETH 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 ETH when I trade this market?
No. A perpetual tracks the price of Ether and settles gains and losses in USDC. You never hold the coins, and positions can be closed out if losses use up their margin.
