Transitioning USDC to Hyperliquid: A Guide for Executing the Connection
Hyperliquid is a top-tier decentralized exchange for futures trading, standing toe-to-toe with many centralized counterparts in terms of daily traded volume. To get started with trading on Hyperliquid, you'll first need to understand how to bridge USDC to the platform. Here's a breakdown of the two primary methods for transferred funds to Hyperliquid:
Centralized and Decentralized Routes
- Decentralized Bridge: While there are various methods for bridging assets, deBridge offers a swift solution for moving funds across different blockchain networks.
a. Step 1: Visit the deBridge site or a compatible platform that supports deBridge.
b. Step 2: Choose the source and destination networks, selecting Arbitrum as the destination for Hyperliquid.
c. Step 3: Connect your wallet as both the source and destination.
d. Step 4: Specify the amount of USDC you wish to bridge, and review the transaction details.
e. Step 5: Confirm the transaction. Your funds should arrive in your Arbitrum wallet in just a few minutes.
f. Step 6: Open Hyperliquid, connect your wallet, and deposit USDC by clicking "Deposit" from the top right navigation menu. This allows you to start trading immediately.
- Centralized Route: If you have USDC on popular exchanges like Binance, the process may be even more straightforward.
a. Step 1: Go to the withdrawals tab on Binance.
b. Step 2: Input your Arbitrum wallet's address as the destination.
c. Step 3: Specify the amount you wish to withdraw, and confirm the transaction.
d. Step 4: Once the transaction is complete, follow Step 6 from the decentralized bridge walkthrough to deposit funds into your Hyperliquid account.
Note: Hyperliquid supports USDC for all trading pairs on its platform.
Key Facts Regarding Hyperliquid's Bridge
- Deposits: Deposits to Hyperliquid's bridge are signed by validators and are credited once more than 2/3 of the staking power has signed the deposit. There's a minimum deposit amount of 5 USDC.
- Withdrawals: Withdrawals from the Hyperliquid bridge require a user wallet signature and don't trigger transactions on Arbitrum. They are handled by validators and should reach your Arbitrum wallet in about 3-4 minutes. A withdrawal gas fee of 1 USDC covers the Arbitrum gas costs for validators.
For more detailed information about Hyperliquid's bridge mechanics and requirements, refer to the resources provided below:
- Hyperliquid bridge documents by Hyperliquid Foundation
- Hyperliquid deposit and withdrawal flow documents by Hyperliquid Foundation
- Comprehensive Hyperliquid review on our website
Happy trading on Hyperliquid!
- To invest in DeFi and trade crypto assets on Hyperliquid, you can use a centralized exchange like Binance to transfer USDC to your Arbitrum wallet.
- For a decentralized approach, you can bridge USDC from a compatible platform that supports deBridge, such as the deBridge site, to your Arbitrim wallet and then deposit USDC into your Hyperliquid account.
- After bridging your funds to Arbitrum, you can start staking and trading various DeFi assets on the Hyperliquid platform.
- As a user, when depositing onto the Hyperliquid bridge, your funds will be credited once more than 2/3 of the staking power has signed the deposit, with a minimum deposit amount of 5 USDC.
- When withdrawing from the Hyperliquid bridge, you won't incur transaction costs on Arbitrum, as the fee is covered by a withdrawal gas fee of 1 USDC paid to validators.
