# Hyperliquid

> Trade perp futures, spot, and RWA on Hyperliquid DEX with up to asset max leverage. Use when placing perp or spot orders, setting TP/SL, or moving funds on Hyperliquid (e.g. long BTC 5x, sell ETH, deposit USDC, set stop).

- Skill: `starchild-ai-agent/hyperliquid` (Agent Skill, multi-file: 8 files)
- Install (CLI): `npx skillmds add starchild-ai-agent/hyperliquid`
- Raw SKILL.md: https://api.skillmd.com/api/skills/starchild-ai-agent/hyperliquid/raw
- Safety review: pending
- Works with: Claude Code, Claude.ai, OpenAI Codex
- Category: Coding & Dev Tools
- Author: starchild-ai-agent (https://skillmd.com/u/starchild-ai-agent)
- Updated: 2026-09-09
- Page: https://skillmd.com/skills/starchild-ai-agent/hyperliquid

---


# Hyperliquid Trading

Trade perpetual futures and spot tokens on Hyperliquid, a fully on-chain decentralized exchange. Orders are signed using this agent's EVM wallet and submitted directly to the Hyperliquid L1.

## Prerequisites

Before trading, the wallet policy must be active. Load the **wallet-policy** skill and propose the standard wildcard policy (deny key export + allow `*`). This covers all Hyperliquid operations — USDC deposits, EIP-712 order signing, and withdrawals.

## Runtime Model: How to Call Hyperliquid (Read This First)

This skill is **script-delivery**. It registers **no** `hl_*` agent tools — calling
`hl_deposit`, `hl_order`, or any other `hl_*` name as a tool will always fail with
"not found in registry". That is by design, not a bug or a missing install.

There are exactly two working lanes:

### Lane 1 — Read-only queries (`exports.py`)

```python
from core.skill_tools import hyperliquid

account = hyperliquid.hl_account()
mids    = hyperliquid.hl_market()
candles = hyperliquid.hl_candles(coin="BTC", interval="1h", hours_back=24)
```

**Any wallet, not just your own.** Every user-scoped function takes an optional
`address`. Omit it for the agent's own wallet; pass a 0x address to inspect a
third party. This is what makes "analyse this wallet's Hyperliquid PnL"
answerable — Hyperliquid is an off-chain order book, so a DeBank-style
chain scan cannot see any of it.

```python
hyperliquid.hl_portfolio(address="0x1f16...")   # PnL time series
hyperliquid.hl_account(address="0x1f16...")     # their open positions
```

32 functions, grouped:

| Group | Functions |
|-------|-----------|
| Account | `hl_account` `hl_balances` `hl_total_balance` `hl_user_role` `hl_user_fees` `hl_rate_limit` `hl_sub_accounts` `hl_referral` `hl_extra_agents` |
| PnL & history | `hl_portfolio` `hl_fills` `hl_fills_by_time` `hl_historical_orders` `hl_ledger` `hl_funding_payments` `hl_twap_fills` `hl_vault_equities` |
| Orders | `hl_open_orders` `hl_open_orders_full` `hl_order_status` |
| Market | `hl_market` `hl_orderbook` `hl_candles` `hl_funding` `hl_predicted_funding` `hl_meta` `hl_meta_ctxs` `hl_spot_meta` `hl_spot_meta_ctxs` `hl_perp_dexs` |
| Staking | `hl_staking` `hl_staking_delegations` `hl_staking_rewards` |

Read-only only — no writes on this lane.

### Answering "what is this wallet's PnL?"

`hl_portfolio` returns 8 windows — `day`, `week`, `month`, `allTime` and the
`perp*` equivalents — each with `accountValueHistory` and `pnlHistory` as
`[epoch_ms, value]` pairs. `pnlHistory` restarts at 0 at the start of each
window, so read `allTime` for lifetime PnL.

```python
pf = dict(hyperliquid.hl_portfolio(address=addr))
pnl = float(pf["allTime"]["pnlHistory"][-1][1])
```

For a cost-basis reconstruction, combine three sources: `hl_ledger` (capital
in/out — deposits, withdrawals, vault moves), `hl_fills_by_time` (realized
`closedPnl` per fill, 2000 max per call — page by passing the last fill's
`time` as the next `start`), and `hl_funding_payments` (funding paid/received).
Check `hl_user_role` first: role `"missing"` means the address never traded
here, which is not the same as "no positions".

### Lane 2 — Writes: orders, cancels, transfers, deposits (`client.py`)

Every write goes through `HyperliquidClient`, which owns the EIP-712 signing
pipeline. It is an **async** class — `await` every call.

```python
from skills.hyperliquid.client import HyperliquidClient

client = HyperliquidClient()

# Deposit USDC to the Hyperliquid bridge (minimum 5 USDC)
res = await client.deposit_usdc(amount=500)

# Place an order
res = await client.place_order(
    coin="BTC", is_buy=True, size=0.001, price=95000, order_type="limit",
)

# Cancel / leverage / transfer / withdraw
await client.cancel_all("BTC")
await client.update_leverage(coin="BTC", leverage=5, is_cross=True)
await client.transfer_usd(amount=100, to_perp=True)
await client.withdraw_from_bridge(amount=50)
```

Prerequisite for Lane 2: the wallet policy must be active — load the
**wallet-policy** skill and propose the standard wildcard policy (deny key
export + allow `*`). That covers deposits, EIP-712 order signing, and withdrawals.

**Naming note:** the rest of this document refers to operations by their
historical `hl_*` names (e.g. "`hl_deposit`"). Those are *labels for the
operation*, not callable tools — always reach them via Lane 1 or Lane 2 above.

## Available Tools

### Account & Market Info

| Tool | What it does |
|------|--------------|
| `hl_total_balance` | Check how much you can trade with (use this for balance checks!) |
| `hl_account` | Open positions and unrealized PnL |
| `hl_balances` | Token holdings (USDC, HYPE, etc.) |
| `hl_portfolio` | **PnL and account value over time** — day/week/month/allTime |
| `hl_ledger` | Deposits, withdrawals, transfers — the capital in/out record |
| `hl_fills_by_time` | Fills within a date range, for cost-basis work |
| `hl_market` | Get current prices for crypto or stocks |
| `hl_meta_ctxs` | Market-wide scan: markPx, funding, OI, volume per asset |
| `hl_orderbook` | Check order book depth and liquidity |
| `hl_fills` | See recent trade fills and execution prices |
| `hl_candles` | Get price charts (1m, 5m, 1h, 4h, 1d) |
| `hl_funding` | Check funding rates for perps |
| `hl_open_orders` | See pending orders |
| `hl_open_orders_full` | Pending orders **with** stop-loss / take-profit detail |

All of the above accept `address="0x..."` to inspect any wallet, not just
the agent's own.

### Trading

| Tool | What it does |
|------|--------------|
| `hl_order` | Buy or sell perps (crypto/stocks) |
| `hl_spot_order` | Buy or sell spot tokens |
| `hl_tpsl_order` | Place stop loss or take profit orders |
| `hl_leverage` | Set leverage (1x to asset max) |
| `hl_cancel` | Cancel a specific order |
| `hl_cancel_all` | Cancel all open orders |
| `hl_modify` | Change order price or size |

### Funds

| Tool | What it does |
|------|--------------|
| `hl_deposit` | Add USDC from Arbitrum (min $5) |
| `hl_withdraw` | Send USDC to Arbitrum (1 USDC fee, ~5 min) |
| `hl_transfer_usd` | Move USDC between spot/perp (rarely needed) |

### Platform

| Tool | What it does |
|------|--------------|
| `hl_approve_builder` | Approve Starchild builder fee collection (auto-done on first order) |
| `hl_builder_status` | Check builder approval status and collected rewards |

---

## Quick Start

Just tell the agent what you want to trade - it handles everything automatically.

**Examples:**

```
User: "Buy $20 of Bitcoin with 5x leverage"
Agent: [checks balance → sets leverage → places order → reports fill]
Result: "✓ Bought 0.0002 BTC at $95,432 with 5x leverage. Position opened."

User: "Long NVIDIA with $50, 10x"
Agent: [auto-detects NVIDIA = xyz:NVDA → executes → verifies]
Result: "✓ Bought 0.25 NVDA at $198.50 with 10x leverage. Filled at $198.62."

User: "Sell my ETH position"
Agent: [checks position size → closes → reports PnL]
Result: "✓ Sold 0.5 ETH at $3,421. Realized PnL: +$12.50"
```

**You don't need to:**
- Understand account modes or fund transfers
- Check balances manually (agent does it)
- Calculate position sizes (agent does it)
- Verify fills (agent does it)

**Just say what you want, the agent handles the rest.**

---

## Agent Behavior Guidelines

**🤖 As the agent, you should ALWAYS do these automatically (never ask the user):**

1. **Check available funds** - Use `hl_total_balance` before EVERY trade to see total available margin
2. **Detect asset type** - Recognize if user wants crypto (BTC, ETH, SOL) or stocks/RWA (NVIDIA→xyz:NVDA, TESLA→xyz:TSLA)
3. **Set leverage** - Always call `hl_leverage` before placing orders (unless user specifies not to)
4. **Verify fills** - After placing ANY order, immediately call `hl_fills` to check if it filled
5. **Report results** - Tell user the outcome: filled price, size, and any PnL
6. **Suggest risk management** - For leveraged positions, remind users about stop losses or offer to set them

**🎯 User just says:** "buy X" or "sell Y" or "long Z with $N"

**🔧 You figure out:**
- Current balance (hl_total_balance)
- Asset resolution (crypto vs RWA)
- Leverage settings (hl_leverage)
- Order sizing (calculate from user's $ amount or size)
- Execution (hl_order)
- Verification (hl_fills)
- Final report to user

**📊 Balance checking hierarchy:**
- ✅ Use `hl_total_balance` - shows ACTUAL available margin regardless of account mode
- ❌ Don't use `hl_account` for balance - may show $0 even if funds available
- ❌ Don't use `hl_balances` for margin - only shows spot tokens

**🚀 Be proactive, not reactive:**
- Don't wait for user to ask "did it fill?" - check automatically
- Don't ask "should I check your balance?" - just do it
- Don't explain account modes - user doesn't care, just execute

---

## Tool Usage Examples

### Check Account State

```
hl_account()              # Default crypto perps account
hl_account(dex="xyz")     # Builder dex (RWA/stock perps) account
```

Returns `marginSummary` (accountValue, totalMarginUsed, withdrawable) and `assetPositions` array with each position's coin, szi (signed size), entryPx, unrealizedPnl, leverage.

**Important:** Builder perps (xyz:NVDA, xyz:TSLA, etc.) have separate clearinghouses. Always check the correct dex when trading RWA/stock perps.

### Check Spot Balances

```
hl_balances()
```

Returns balances array with coin, hold, total for USDC and all spot tokens.

### Check Market Prices

```
hl_market()                  # All mid prices
hl_market(coin="BTC")        # BTC price + metadata (maxLeverage, szDecimals)
```

### Side Parameter Convention (read this first)

All order tools (`hl_order`, `hl_spot_order`, `hl_tpsl_order`, `hl_modify`)
use the same `side` parameter. **Use `"buy"` or `"sell"`** — these are the
documented values and should be your default.

For safety, the tools also accept these aliases so a model guess doesn't
reverse direction on a leveraged order:

- Buy family:  `"buy"`, `"B"`, `"bid"`, `"long"`, `"L"`, `1`, `true`
- Sell family: `"sell"`, `"S"`, `"A"`, `"ask"`, `"short"`, `0`, `false`

**An unrecognized value will fail the call with a clear error** — the tool
never defaults to sell (or buy) when `side` is ambiguous. This is intentional:
silently reversing direction on a leveraged position is the worst failure mode.

Note: Hyperliquid's L1 wire protocol uses `"B"` and `"A"` internally, but the
tool interface here is `buy`/`sell`. Stick to `buy`/`sell` in your calls and
you will never be surprised.

### Place a Perp Limit Order

```
hl_order(coin="BTC", side="buy", size=0.01, price=95000)
```

Places a GTC limit buy for 0.01 BTC at $95,000.

### Place a Perp Market Order

```
hl_order(coin="ETH", side="sell", size=0.1)
```

Omitting `price` submits an IoC order at mid price +/- 3% slippage.

**Parameter format behavior:**
- Preferred: pass correct JSON types (`size` as number, `reduce_only` as boolean)
- Hyperliquid tools now include tolerant coercion for common LLM formatting mistakes:
  - numeric strings like `"0.01"` → `0.01`
  - boolean strings like `"true"/"false"` → `true/false`
  - integer strings like `"5"`/`"5.0"` → `5`
- Invalid/empty/non-finite values still fail with explicit validation errors

### Place a Post-Only Order

```
hl_order(coin="BTC", side="buy", size=0.01, price=94000, order_type="alo")
```

ALO (Add Liquidity Only) = post-only. Rejected if it would immediately fill.

**Practical guardrail for bots:** If your ALO price is too close to mid (often within ~0.1% on liquid pairs), Hyperliquid may reject it. For market-making/grid bots, compute current mid first and skip or shift levels that sit inside your no-cross buffer zone.

### Place a Stop Loss Order

```
hl_tpsl_order(coin="BTC", side="sell", size=0.01, trigger_px=90000, tpsl="sl")
```

Automatically sells 0.01 BTC if the price drops to $90,000. Executes as market order when triggered.

For a limit order when triggered (instead of market):

```
hl_tpsl_order(coin="BTC", side="sell", size=0.01, trigger_px=90000, tpsl="sl", is_market=false, limit_px=89900)
```

### Place a Take Profit Order

```
hl_tpsl_order(coin="ETH", side="sell", size=0.5, trigger_px=3500, tpsl="tp")
```

Automatically sells 0.5 ETH if the price rises to $3,500. Executes as market order when triggered.

### Close a Perp Position

```
hl_order(coin="BTC", side="sell", size=0.01, reduce_only=true)
```

Use `reduce_only=true` to ensure it only closes, never opens a new position.

### Place a Spot Order

```
hl_spot_order(coin="HYPE", side="buy", size=10, price=25.0)
```

Spot orders use the same interface — just specify the token name.

### Cancel an Order

```
hl_cancel(coin="BTC", order_id=12345678)
```

Get `order_id` from `hl_open_orders`.

### Cancel All Orders

```
hl_cancel_all()              # Cancel everything
hl_cancel_all(coin="BTC")    # Cancel only BTC orders
```

### Modify an Order

```
hl_modify(order_id=12345678, coin="BTC", side="buy", size=0.02, price=94500)
```

### Set Leverage

```
hl_leverage(coin="BTC", leverage=10)               # 10x cross margin
hl_leverage(coin="ETH", leverage=5, cross=false)    # 5x isolated margin
```

### Transfer USDC (rarely needed)

```
hl_transfer_usd(amount=1000, to_perp=true)     # Spot → Perp
hl_transfer_usd(amount=500, to_perp=false)      # Perp → Spot
```

Note: Usually not needed - funds are automatically shared. Only use if you get an error saying you need to transfer.

### Withdraw USDC to Arbitrum

```
hl_withdraw(amount=100)                              # Withdraw to own wallet
hl_withdraw(amount=50, destination="0xABC...")        # Withdraw to specific address
```

Fee: 1 USDC deducted by Hyperliquid. Processing takes ~5 minutes.

### Deposit USDC from Arbitrum

```
hl_deposit(amount=500)
```

Sends USDC from the agent's Arbitrum wallet to the Hyperliquid bridge contract. Minimum deposit: 5 USDC. Requires USDC balance on Arbitrum.

### Get Candles

```
hl_candles(coin="BTC", interval="1h", lookback=48)
```

Intervals: `1m`, `5m`, `15m`, `1h`, `4h`, `1d`. Lookback in hours.

### Check Funding Rates

```
hl_funding()                 # All predicted fundings
hl_funding(coin="BTC")       # BTC predicted + 24h history
```

### Get Recent Fills

```
hl_fills(limit=10)
```

---

## Coin vs RWA Resolution

When a user asks to trade a ticker, you need to determine whether it's a **native crypto perp** (use plain name) or an **RWA/stock perp** (use `xyz:TICKER` prefix).

### Decision Workflow

1. **Known crypto** → use plain name: `"BTC"`, `"ETH"`, `"SOL"`, `"DOGE"`, `"HYPE"`, etc.
2. **Known stock/commodity/forex** → use `xyz:` prefix: `"xyz:NVDA"`, `"xyz:TSLA"`, `"xyz:GOLD"`, etc.
3. **Unsure** → resolve with tool calls:
   - First try `hl_market(coin="X")` — if it returns a price, it's a crypto perp
   - If not found, try `hl_market(dex="xyz")` to list all RWA markets and search the results
   - Use whichever returns a match

### Common RWA Categories (all use `xyz:` prefix)

| Category | Examples |
|----------|----------|
| **US Stocks** | `xyz:NVDA`, `xyz:TSLA`, `xyz:AAPL`, `xyz:MSFT`, `xyz:AMZN`, `xyz:GOOG`, `xyz:META`, `xyz:TSM` |
| **Commodities — Metals** | `xyz:GOLD`, `xyz:SILVER`, `xyz:COPPER`, `xyz:PLATINUM`, `xyz:PALLADIUM`, `xyz:ALUMINIUM` |
| **Commodities — Energy** | `xyz:CL` (WTI), `xyz:BRENTOIL`, `xyz:NATGAS`, `xyz:TTF` (EU Gas) |
| **Commodities — Agriculture** | `xyz:CORN`, `xyz:WHEAT` |
| **Commodities — Other** | `xyz:URANIUM` |
| **Indices** | `xyz:SPY` |
| **Forex** | `xyz:EUR`, `xyz:GBP`, `xyz:JPY` |

> If a user says "buy NVDA" or "trade GOLD", use `xyz:NVDA` / `xyz:GOLD`. These are real-world assets, not crypto.

### ⚠️ HIP-3 Commodity Price Lookup

**All 13 commodity markets are HIP-3 builder-deployed perps.** Their symbols use the `xyz:` prefix (e.g. `xyz:GOLD`, `xyz:CL`), NOT standard formats like XAU, XAG, or WTI.

**Full commodity list:** GOLD, SILVER, COPPER, PLATINUM, PALLADIUM, ALUMINIUM, CL (WTI crude), BRENTOIL, NATGAS, TTF (EU gas), CORN, WHEAT, URANIUM.

**Key gotcha:** HIP-3 assets are **NOT included in `allMids`** (the standard price feed). This means:
- `hl_market(coin="xyz:GOLD")` may return **no price** or fail to find the asset
- `hl_market(dex="xyz")` lists all builder markets but may not include mid prices

**The reliable way to get commodity prices is `hl_candles`:**

```
# Get latest gold price (use 1h candles, lookback=24 for 24h data)
hl_candles(coin="xyz:GOLD", interval="1h", lookback=24)

# Get latest copper price
hl_candles(coin="xyz:COPPER", interval="1h", lookback=24)

# Get latest silver price
hl_candles(coin="xyz:SILVER", interval="1h", lookback=24)
```

The `close` field of the most recent candle = current price. The oldest candle's `open` vs latest `close` gives 24h change.

### Prefixed Name — Same Tools

All existing tools work with `xyz:TICKER` — just pass the prefixed coin name:

```
hl_market(coin="xyz:NVDA")                                    # Check NVIDIA stock perp price
hl_market(dex="xyz")                                           # List ALL available RWA/stock perps
hl_orderbook(coin="xyz:NVDA")                                 # Check liquidity
hl_leverage(coin="xyz:NVDA", leverage=3)                      # Set leverage (auto-isolated)
hl_order(coin="xyz:NVDA", side="buy", size=0.5, price=188)    # Limit buy 0.5 NVDA
hl_order(coin="xyz:TSM", side="buy", size=1)                  # Market buy 1 TSM
hl_cancel(coin="xyz:NVDA", order_id=12345678)                 # Cancel order
```

### Example: User Says "Buy NVIDIA"

1. Recognize NVIDIA = stock → use `xyz:NVDA`
2. `hl_market(coin="xyz:NVDA")` — Check current price, leverage limits
3. `hl_leverage(coin="xyz:NVDA", leverage=3)` — Set leverage (builder perps use isolated margin)
4. `hl_order(coin="xyz:NVDA", side="buy", size=0.5, price=188)` — Place limit buy
5. `hl_fills()` — Check if filled

### Notes

- Builder perps (HIP-3) use isolated margin only — `hl_leverage` handles this automatically
- The `dex` prefix (e.g. `xyz`) identifies which builder deployed the perp
- All tools (candles, orderbook, funding, etc.) work the same way with prefixed names

---

## Common Workflows

### Query Commodity Prices

User: "What's the gold price?" or "Show me commodity prices" or "Oil price?"

**Name → Symbol mapping:**
- Metals: GOLD→`xyz:GOLD`, SILVER→`xyz:SILVER`, COPPER→`xyz:COPPER`, PLATINUM→`xyz:PLATINUM`, PALLADIUM→`xyz:PALLADIUM`, ALUMINIUM→`xyz:ALUMINIUM`
- Energy: WTI/Crude Oil→`xyz:CL`, Brent→`xyz:BRENTOIL`, Natural Gas→`xyz:NATGAS`, EU Gas→`xyz:TTF`
- Agriculture: Corn→`xyz:CORN`, Wheat→`xyz:WHEAT`
- Other: Uranium→`xyz:URANIUM`

**Steps:**
1. Map commodity name → HIP-3 symbol using the table above
2. `hl_candles(coin="xyz:GOLD", interval="1h", lookback=24)` — Get 24h of hourly candles
3. Current price = last candle's `close`
4. 24h change = `(last_close - first_open) / first_open * 100`
5. Repeat for each commodity as needed

**Do NOT use `hl_market()` for commodities** — HIP-3 assets are not in `allMids`. Always use `hl_candles`.

**Liquidity note:** CL (WTI) and BRENTOIL have the highest volume. ALUMINIUM, URANIUM, CORN, WHEAT, TTF may have zero or very low liquidity — warn the user before trading these.

### Trade Crypto Perps (BTC, ETH, SOL, etc.)

User: "Buy BTC" or "Long ETH with 5x"

Agent workflow:
1. `hl_total_balance()` → Check available funds
2. `hl_leverage(coin="BTC", leverage=5)` → Set leverage
3. `hl_order(...)` → Place order
4. `hl_fills()` → Verify fill and report result

### Trade Stocks/RWA (NVIDIA, TESLA, GOLD, etc.)

User: "Buy NVIDIA" or "Short TESLA"

Agent workflow:
1. Detect asset type → Convert "NVIDIA" to "xyz:NVDA"
2. `hl_total_balance()` → Check available funds
3. `hl_leverage(coin="xyz:NVDA", leverage=10)` → Set leverage
4. `hl_order(coin="xyz:NVDA", ...)` → Place order
5. `hl_fills()` → Verify fill and report result

### Close Positions

User: "Close my BTC position"

Agent workflow:
1. `hl_account()` → Get current position size
2. `hl_order(coin="BTC", side="sell", size=X, reduce_only=true)` → Close position
3. `hl_fills()` → Report PnL

### Grid / Market-Making Bot Loop (service mode)

For always-on bots running inside FastAPI/worker services:

1. Read open orders via `get_open_orders(address)`
2. Read fills via `get_user_fills(address)`
3. Use **fills as source of truth** for "order executed" events
4. On fill:
   - buy fill → place paired sell at next grid level
   - sell fill → place paired buy at previous grid level
5. Keep periodic reconciliation: local state vs exchange open orders

**Important:** Do not treat "order disappeared from open orders" as guaranteed fill. It can also mean cancel/reject/expired. Always confirm with `get_user_fills` (or `get_order_status` when needed).

### Spot Trading

User: "Buy 100 HYPE tokens"

Agent workflow:
1. `hl_total_balance()` → Check available USDC
2. `hl_spot_order(coin="HYPE", side="buy", size=100)` → Buy tokens
3. `hl_balances()` → Verify purchase

### Deposit/Withdraw Funds

**Deposit:**
User: "Deposit $500 USDC to Hyperliquid"
Agent: `hl_deposit(amount=500)` → Done

**Withdraw:**
User: "Withdraw $100 to my Arbitrum wallet"
Agent: `hl_withdraw(amount=100)` → Done (5 min, 1 USDC fee)

---

## Order Types

| Type | Parameter | Behavior |
|------|-----------|----------|
| **Limit (GTC)** | `order_type="limit"` | Rests on book until filled or cancelled |
| **Market (IoC)** | omit `price` | Immediate-or-Cancel at mid +/- 3% slippage |
| **Post-Only (ALO)** | `order_type="alo"` | Rejected if it would cross the spread |
| **Fill-or-Kill** | `order_type="ioc"` + explicit price | Fill immediately at price or cancel |
| **Stop Loss** | `hl_tpsl_order` with `tpsl="sl"` | Triggers when price drops to limit losses |
| **Take Profit** | `hl_tpsl_order` with `tpsl="tp"` | Triggers when price rises to lock gains |

---

## Stop Loss & Take Profit Orders

Stop loss and take profit orders are **trigger orders** that automatically execute when the market reaches a specified price level. Use these to manage risk and lock in profits without monitoring positions 24/7.

### How They Work

1. **Order Placement**: Place a dormant trigger order with a trigger price
2. **Monitoring**: Order sits inactive, watching the market price
3. **Trigger**: When market price reaches `trigger_px`, order activates
4. **Execution**: Order executes immediately (as market or limit order)

### Stop Loss (SL)

**Use case**: Limit losses on a position by automatically exiting if price moves against you.

**Example**: You're long BTC at $95,000 and want to exit if it drops below $90,000.

```
hl_tpsl_order(coin="BTC", side="sell", size=0.1, trigger_px=90000, tpsl="sl")
```

- **trigger_px=90000**: Activates when BTC drops to $90k
- **side="sell"**: Closes your long position
- **tpsl="sl"**: Marks this as a stop loss order
- **Default**: Executes as market order when triggered (instant exit)

### Take Profit (TP)

**Use case**: Lock in gains by automatically exiting when price reaches your profit target.

**Example**: You're long ETH at $3,000 and want to take profit at $3,500.

```
hl_tpsl_order(coin="ETH", side="sell", size=1.0, trigger_px=3500, tpsl="tp")
```

- **trigger_px=3500**: Activates when ETH rises to $3,500
- **side="sell"**: Closes your long position
- **tpsl="tp"**: Marks this as a take profit order
- **Default**: Executes as market order when triggered (instant exit)

### Market vs Limit Execution

By default, TP/SL orders execute as **market orders** when triggered (instant fill, possible slippage).

For more control, use a **limit order** when triggered:

```
hl_tpsl_order(
    coin="BTC",
    side="sell",
    size=0.1,
    trigger_px=90000,
    tpsl="sl",
    is_market=false,
    limit_px=89900
)
```

- **trigger_px=90000**: Activates at $90k
- **is_market=false**: Use limit order (not market)
- **limit_px=89900**: Limit price when triggered ($89,900)

**Trade-off**: Limit orders avoid slippage but may not fill in fast-moving markets.

### Short Positions

For short positions, reverse the `side` parameter:

**Stop loss on short** (exit if price rises):
```
hl_tpsl_order(coin="BTC", side="buy", size=0.1, trigger_px=98000, tpsl="sl")
```

**Take profit on short** (exit if price drops):
```
hl_tpsl_order(coin="BTC", side="buy", size=0.1, trigger_px=92000, tpsl="tp")
```

### Best Practices

1. **Always use `reduce_only=true`** (default) - ensures TP/SL only closes positions, never opens new ones
2. **Match size to position** - TP/SL size should equal or be less than your position size
3. **Set both TP and SL** - protect both upside (take profit) and downside (stop loss)
4. **Account for volatility** - don't set stops too tight or they'll trigger on normal price swings
5. **Check open orders** - use `hl_open_orders` to verify TP/SL orders are active

### Common Mistakes

| Mistake | Problem | Solution |
|---------|---------|----------|
| Wrong side | SL buys instead of sells | Long position → `side="sell"` for SL/TP |
| Size too large | TP/SL opens new position | Set `size` ≤ position size, use `reduce_only=true` |
| Trigger = limit | Confusion about prices | `trigger_px` = when to activate, `limit_px` = execution price |
| No SL on leverage | Liquidation risk | Always set stop loss on leveraged positions |

---

## Perps vs Spot

| Aspect | Perps | Spot |
|--------|-------|------|
| Tool | `hl_order` | `hl_spot_order` |
| Leverage | Yes (up to asset max) | No |
| Funding | Paid/received every hour | None |
| Short selling | Yes (native) | Must own tokens to sell |
| Check positions | `hl_account` | `hl_balances` |

---

## Risk Management

- **Always check account state before trading** — know your margin usage and existing positions
- **Set leverage explicitly** before opening new positions (default may vary)
- **Use reduce_only** when closing to avoid accidentally opening the opposite direction
- **Monitor funding rates** — high positive funding means longs are expensive to hold
- **Start with small sizes** — Hyperliquid has minimum order sizes per asset (check szDecimals)
- **Post-only (ALO) orders** save on fees (maker vs taker rates)
- **Check fills after market orders** — IoC orders may partially fill or not fill at all

---

## Builder Code (Platform Fee)

Starchild automatically collects a **2 bps (0.02%) builder fee** on every perp and spot order placed through this skill. This fee supports platform operations and is separate from Hyperliquid's own trading fees.

**How it works:**
- The first time a user places an order, the skill auto-approves the Starchild builder address via the `ApproveBuilderFee` action (signed by the user's main wallet)
- All subsequent orders include a `builder` parameter: `{"b": "0x2c5320F40305fFC933385c6DCec5493fbA7b98b8", "f": 20}` (20 tenths-of-bps = 2 bps)
- The fee is collected in the quote/collateral asset (USDC) and accumulates in the builder's referral rewards
- Users can revoke approval at any time on app.hyperliquid.xyz

**Tools:**
- `hl_approve_builder` — Manually approve the Starchild builder (normally auto-done on first order)
- `hl_builder_status` — Check approval status and view unclaimed builder rewards

**If builder approval fails:** Orders still go through without the builder parameter. The error is logged but does not block trading.

---

## Common Errors

| Error | Fix |
|-------|-----|
| "Unknown perp asset" | Check coin name. Crypto: "BTC", "ETH". Stocks: "xyz:NVDA", "xyz:TSLA" |
| "Insufficient margin" | Use `hl_total_balance` to check funds. Reduce size or add more USDC |
| "Order must have minimum value of $10" | Increase size. Formula: `size × price ≥ $10` |
| "Size too small" | BTC min is typically 0.001. Check asset's szDecimals |
| "Order would cross" | ALO order rejected. Use regular limit order instead |
| "User or wallet does not exist" | Deposit USDC first with `hl_deposit(amount=500)` |
| "Minimum deposit is 5 USDC" | Hyperliquid requires at least $5 per deposit |
| "Policy violation" | Load wallet-policy skill and propose wildcard policy |
| "Action disabled when unified account is active" | Transfers blocked in unified mode (default). Just place orders directly |
| "'side' must be one of: buy/sell ..." | You passed an unrecognized direction. Use `"buy"` or `"sell"`. See **Side Parameter Convention** above |