Hyperliquid Features
A deep dive into the Hyperliquid features Ritdex is built on — order types, margin modes, funding, oracle pricing, and the HLP vault.
Ritdex's trading engine is Hyperliquid itself — Ritdex doesn't run a separate matching engine, risk engine, or price feed. Understanding these Hyperliquid mechanics helps you trade more effectively on Ritdex.
Order types
The order panel exposes four ways to enter and exit a position:
TWAP orders are useful for entering or exiting large size without moving the market — Hyperliquid slices the order into smaller pieces and executes them over your chosen time window instead of hitting the book all at once.
Margin modes
Every position uses one of two margin modes, chosen before you open it:
Margin and PnL are shared across all open positions on the account. Efficient use of capital, but a liquidation can affect every position at once.
A fixed amount of margin is allocated to a single position. Margin and PnL are not shared — only that position is at risk if it's liquidated.
Switching margin mode is only possible when a market has no open position — you can't change an existing position from Cross to Isolated (or back) without closing it first.
Leverage
Leverage is configurable per market, up to the maximum Hyperliquid allows for that asset (higher-cap, more liquid markets generally support higher max leverage than long-tail ones). Increasing leverage reduces the margin required to open a given position size, but also brings your liquidation price closer to your entry price.
Funding rate
Perpetual futures don't expire, so Hyperliquid uses a funding rate to keep perp prices anchored to the underlying spot/index price. When the funding rate is positive, longs pay shorts; when negative, shorts pay longs. Funding is paid continuously (accrued every second, settled hourly) rather than as a single lump payment — you can see the current rate and countdown to the next settlement directly in the market header:
Oracle pricing
Oracle Price is Hyperliquid's aggregated reference price for a market — sourced from multiple external venues and combined to resist single-exchange manipulation. Liquidation and funding calculations reference the oracle price, not just Ritdex's own order book, which is one of the reasons Hyperliquid's perps can't be easily manipulated by moving the local order book alone.
Chart signals
Ritdex overlays the Ritchi-Signal BUY/SELL indicator directly on the Hyperliquid price chart:
You can act on these signals manually, or hand execution to the automated Bot Trading — Ritchi Indicator.
HLP vault & liquidations
Hyperliquid's on-chain liquidity/market-making layer (HLP) provides counterparty liquidity and absorbs liquidated positions when a trader's margin falls below the maintenance threshold. This happens automatically and on-chain — there's no discretionary intervention, and it's the same mechanism regardless of which front-end (Ritdex or otherwise) a position was opened from.
Ecosystem rewards
Trading volume, open interest, and referral activity on Hyperliquid also feed into Hyperliquid's own ecosystem reward programs — separate from Ritdex's Partners/IB commissions.
See also
- Perps Trading — how to actually place a trade on Ritdex
- Fees — the builder fee Ritdex earns on top of Hyperliquid's own fee schedule
- Bot Trading — Ritchi Indicator — automate execution off the Ritchi-Signal