# Perps on Hyperliquid and Lighter

> Trade every Hyperliquid and Lighter market from a strategy, a workflow or by hand, with funding in backtests, testnet by default, and each wallet's mainnet account behind a switch.

## Markets

Every Hyperliquid and Lighter market is available: perps, Hyperliquid's builder perps (HIP-3 markets such as stocks, gold and FX, written like `xyz:TSLA`) and spot pairs. A strategy reads one as `perp:<venue>:<symbol>`, with its funding rate.

## Accounts

Each wallet in a project has its own account on each venue, on testnet and on mainnet. The project's perps view shows each one's equity, withdrawable USDC and positions.

> [!WARNING] Mainnet is off until you turn it on
> Trading is testnet unless named, and each wallet's mainnet account on a venue is off until you switch it on. While it's off, nothing that wallet sends to that venue's mainnet leaves ftw.trade.

## Moving money in and out

| Move | How |
|---|---|
| Deposit to Hyperliquid | USDC from Arbitrum through its bridge (5 USDC at least), or any token from any chain through Relay |
| Deposit to Lighter | USDC; the first deposit makes the account |
| Withdraw | Any amount, or all, back to the wallet |
| Privately | Through Husher, so the venue account isn't linked on chain to where the money came from |

## Trading

- **From a strategy**: `perp.long`, `perp.short`, `perp.close`, maker `perp.bid` and `perp.ask`, and `perp.target` and `perp.hedge` over several markets. With a project's wallets, each wallet sends the order's USD notional at the run's leverage, priced from the venue's live book as it's sent.
- **From a workflow**: `perp` steps (long, short, close, or a signed target position), `deposit` and `withdraw`.
- **By hand**: the order ticket in Markets, or [charts.ftw.trade](https://charts.ftw.trade) with TP/SL, TWAP and scale orders.

## Backtests count funding

A backtest on a perp charges each bar's funding on the position it holds, and the fee and slippage you set. The **Funding fade** starter trades funding itself.

## Minimums

Hyperliquid refuses an order under $10, and sizes round down to each market's step. A TWAP on Hyperliquid needs about $100.