Short answer: Xverse Perps lets you open leveraged long or short perpetual positions from Xverse. It may show as Powered by Hyperliquid. You keep self-custody keys in Xverse. Deposits and withdrawals use your master key. A scoped agent wallet can sign trades but cannot withdraw.
What you can do
| Action | What it means |
|---|---|
| Long / short | Open perpetual positions from Xverse |
| Fund margin | Guided flow: BTC → uBTC (Hyperunit) → USDC → margin |
| Review orders | Before confirm you see liquidation price, margin, and fees (including the disclosed Xverse builder fee and Hyperliquid trading fees) |
| Withdraw | Reverse of the funding path (see funding article) |
Fee amounts appear in-app on order review. This article does not list fee percentages.
Custody model
| Key | Can do | Cannot do |
|---|---|---|
| Master key (your Xverse account) | Deposits and withdrawals | (n/a) |
| Scoped agent wallet | Sign trades | Withdraw funds |
Keys stay in Xverse self-custody. Xverse Perps is not the same product as Hyperliquid. At most, the UI may say Powered by Hyperliquid.
Funding path in one line
You bridge Bitcoin through a third-party bridge (Hyperunit) into the margin stack. Plan on about ~30 minutes. Hyperunit has a minimum of 0.0003 BTC. This is not an atomic or Lightning-style bridge.
Details: How do I fund and withdraw from Xverse Perps?
What v1 is not
- Not user-facing spot trading. Any spot step is internal conversion only for the perps flow.
- Not a guarantee of fills, volume, APY, or TVL.
- USDT is not supported as Perps collateral.
- Extension Perps and password-wallet access: confirm what your app build shows.
- Push alerts for fills, liquidations, or funding: only if Notifications and the product offer them. Confirm in-app.