How to Deposit and Withdraw on Hyperliquid (2026): USDC Routes, Minimums, Fees and How to Track Your Real PnL

The short version: Click Deposit on Hyperliquid and send USDC on Arbitrum, Ethereum, Base or Polygon to the address shown; it lands as USDC on HyperCore in about a minute. Never send less than 5 USDC through the Arbitrum bridge, because smaller amounts are not credited. Withdrawals need only a signature, no gas, and on the Arbitrum route usually arrive in 3–5 minutes for a flat fee of around 1 USDC. After that, the one habit that matters: track your net deposits, because your account balance on its own says nothing about whether you are actually making money.

Moving money in and out of Hyperliquid is simple once you have done it once, but the first time is where people lose funds: a 2 USDC "test" deposit that disappears, USDC sent on the wrong network, or a withdrawal attempted while the margin is still locked in open positions. And long after the first deposit, transfers keep causing a quieter problem: they make your account balance look like profit or loss when it is neither.

This guide covers every current deposit route (including the move to Circle's CCTP), withdrawals step by step, the minimums and fees, the mistakes that cost real money, and how to separate deposits and withdrawals from trading performance so you know your true PnL.

What you need before your first deposit

• A wallet or an email login. You can connect an EVM wallet (Rabby, MetaMask, Coinbase Wallet, WalletConnect) or log in to app.hyperliquid.xyz with your email address. Mobile apps such as Phantom, MetaMask, Based and Dexari also give you access.
• Collateral. Usually USDC. Hyperliquid also accepts native spot assets on their own chains, such as BTC on Bitcoin, ETH on Ethereum or SOL on Solana, which you then sell for USDC (or another quote asset) to trade.
• A little gas on the source chain. Only for the deposit transaction. Trading on Hyperliquid itself is gas-free.

If you connect a wallet, the app asks you to Enable Trading with a gas-less signature. That creates the key the interface uses to place orders without asking your wallet to sign every click.

How to deposit USDC on Hyperliquid, step by step

1. Open app.hyperliquid.xyz/trade and connect your wallet or log in with email.
2. Click Deposit. The window shows a deposit address and QR code.
3. Choose the asset and the network. For USDC you can send on Arbitrum, Ethereum, Base or Polygon.
4. Send the USDC from your wallet or from a centralized exchange that supports one of those networks. If you are connected with a wallet on Arbitrum, you can also enter the amount and confirm the deposit directly in the window.
5. Wait for the credit. Hyperliquid's docs say Arbitrum bridge deposits are credited in under a minute. The funds arrive as USDC on HyperCore, Hyperliquid's trading layer.

Many centralized exchanges and bridges also support withdrawing straight to Hyperliquid, either to HyperCore or to HyperEVM. If yours does, that is usually the cheapest route because it skips one hop.

CCTP vs the legacy Arbitrum bridge: what changed

For years, the only real way in was Bridge2, a contract on Arbitrum that held USDC and credited it to your Hyperliquid account. Hyperliquid's developer documentation now describes Circle's CCTP (Cross-Chain Transfer Protocol) as the preferred method for minting native USDC on Hyperliquid and marks the legacy bridge as deprecated. Accounts using Hyperliquid's Unified Account default to CCTP for USDC deposits.

	CCTP (Circle)	Legacy Arbitrum bridge (Bridge2)
Status	Preferred route	Deprecated, still documented
Source chains	Several (the app lists Arbitrum, Ethereum, Base, Polygon)	Arbitrum only
How it works	USDC is burned on the source chain and minted natively	USDC is locked in the bridge contract and credited to the sender
Minimum	Check the deposit window	5 USDC, smaller amounts are lost

For you as a trader, the practical change is that you no longer have to bridge to Arbitrum first. If your USDC already sits on Base or Ethereum, send it from there.

Depositing BTC, ETH, SOL and other native assets

The deposit window also gives addresses for native spot assets: BTC on Bitcoin, ETH and ENA on Ethereum, SOL and several Solana tokens, plus assets such as MON, XPL, AVAX and ZEC on their own chains (the exact list changes, so check the window). These arrive as spot balances, not as perp margin. To use them for perps you normally sell them for USDC first, or keep them as spot holdings.

Double-check the network every time. Sending BTC to an Ethereum-style address, or SOL to the wrong chain's address, is the fastest way to lose a deposit for good.

How to withdraw from Hyperliquid

1. Close or reduce positions if you need the full balance. Margin locked in open positions is not withdrawable; the withdraw window shows the amount you can actually take out.
2. Click Withdraw (bottom right of the trade page).
3. Pick the asset and destination network, enter the amount and confirm the destination address. By default it is your own address.
4. Sign. On the Arbitrum route this is only a Hyperliquid signature: no Arbitrum transaction, no ETH needed. Validators sign and relay the withdrawal to the bridge.
5. Wait. The docs say funds arrive in 3–4 minutes; in practice plan for about five.

Depending on the destination chain and method, there may be small fees. On the classic Arbitrum route the fee has been a flat 1 USDC per withdrawal, regardless of size, which is why the smallest useful withdrawal is a couple of USDC. Always read the fee shown in the window before you sign, because it can change.

Minimums, fees and timing at a glance

Action	Minimum	Hyperliquid fee	Typical time
USDC deposit (Arbitrum bridge)	5 USDC	None (you pay source-chain gas)	Under 1 minute
USDC deposit (CCTP, other chains)	Shown in the deposit window	None from Hyperliquid; source gas applies	Minutes, depends on the source chain
USDC withdrawal (Arbitrum)	A few USDC (must exceed the fee)	Flat ~1 USDC	3–5 minutes
Transfer between your master account and sub-accounts	None	None	Instant
Send USDC to another Hyperliquid address	None	Small fee may apply, shown before signing	Instant

A flat fee hurts small withdrawals the most: 1 USDC is 2.5% of a 40 USDC withdrawal and 0.025% of a 4,000 USDC one. If you move money often, batch your withdrawals.

Six mistakes that cost real money

1. A tiny test deposit. Testing with 2 USDC on the Arbitrum bridge does not test anything: under 5 USDC is never credited. Make the test 5 USDC or more.
2. The wrong network. USDC sent on a chain the deposit window doesn't list may never arrive. Match the network exactly.
3. Bridged USDC.e instead of native USDC. The Arbitrum bridge expects native USDC. If your wallet holds the older bridged version, swap it first.
4. Withdrawing with open positions. Pulling margin out of a cross account raises your effective leverage and moves your liquidation price closer. Check it before you withdraw, or use the position size calculator to see the new risk.
5. Typos in the destination. Withdrawals can't be reversed. Paste, then compare the first and last characters, or verify on your hardware wallet screen.
6. Phishing "deposit helpers". Nobody legitimate needs your seed phrase to deposit for you. Use the official app or a wallet you trust, and read the wallet security guide.

Internal transfers: perps, spot, sub-accounts and vaults

Not every movement leaves Hyperliquid. Inside your account you can move USDC between the spot and perps balances (unless you use a unified account, where one balance backs both), fund sub-accounts from your master account, deposit into vaults such as HLP, and send USDC to another Hyperliquid address. All of these are recorded on-chain in your ledger as their own entry types, separate from fills and funding.

This matters for tracking. A transfer to a sub-account makes the master's balance drop without any loss, and a vault deposit takes USDC out of your trading balance without it being "spent". If you run several accounts, follow all of them together, as explained in how to track multiple Hyperliquid wallets.

Why deposits and withdrawals distort your PnL

Your account value moves for four reasons: price PnL, trading fees, funding, and transfers in or out. Only the first three are performance. Here is how transfers mislead you:

• You deposit 2,000 USDC.
• Later you withdraw 500 USDC.
• Today the account shows 1,800 USDC.

Looking only at the balance, you went from 2,000 to 1,800 and it feels like a 200 USDC loss. But your net deposits are 2,000 − 500 = 1,500 USDC, so your real result is 1,800 − 1,500 = +300 USDC, a 20% gain on the money you actually have at risk. The reverse happens too: a fresh deposit after a bad week makes the equity curve jump and hides the losses.

That's why a proper tracker reports realized and unrealized PnL from fills and positions instead of just the balance. For the full breakdown of fees and funding, see the real PnL guide.

Check your deposits and withdrawals with the public API

Every transfer is public and readable without API keys. The userNonFundingLedgerUpdates request on Hyperliquid's info endpoint returns deposits, withdrawals, internal transfers, sub-account transfers, vault deposits and more. This short Python script totals your USDC deposits and withdrawals:

import requests

ADDRESS = "0xYourPublicAddress"
rows = requests.post(
    "https://api.hyperliquid.xyz/info",
    json={"type": "userNonFundingLedgerUpdates", "user": ADDRESS, "startTime": 0},
).json()

deposits = sum(float(r["delta"]["usdc"]) for r in rows if r["delta"]["type"] == "deposit")
withdrawals = sum(float(r["delta"]["usdc"]) + float(r["delta"].get("fee", 0))
                  for r in rows if r["delta"]["type"] == "withdraw")

print(f"Deposited:  {deposits:,.2f} USDC")
print(f"Withdrawn:  {withdrawals:,.2f} USDC")
print(f"Net:        {deposits - withdrawals:,.2f} USDC")

Withdrawal rows record the amount and the fee as separate fields, which is why the script adds them back together. It only counts USDC deposits and withdrawals: native spot assets (BTC, SOL and so on), vault movements and sub-account transfers show up as other entry types, so add those if your account uses them. For long histories, page through with startTime. More examples are in the Hyperliquid API Python guide.

Frequently asked questions

What is the minimum deposit on Hyperliquid?

5 USDC on the Arbitrum bridge. Hyperliquid's documentation says smaller amounts are not credited and are lost. For other routes, the minimum is shown in the deposit window.

How long does a Hyperliquid withdrawal take?

On the Arbitrum route, usually 3–5 minutes. Validators sign and relay it, so you don't send any transaction on Arbitrum yourself.

How much does it cost to withdraw from Hyperliquid?

On the Arbitrum route it has been a flat fee of about 1 USDC per withdrawal, whatever the size. Other chains and methods can differ, so check the fee in the withdraw window before signing.

Do I need ETH to withdraw?

No. A Hyperliquid withdrawal is a gas-less signature. You only need gas on the destination chain if you later want to move the USDC again from there.

Which networks can I deposit USDC from?

The app's deposit window lists Arbitrum, Ethereum, Base and Polygon for USDC, via Circle's CCTP. Some exchanges and bridges also send directly to HyperCore or HyperEVM.

Why can't I withdraw my whole balance?

Margin backing open positions isn't withdrawable. Close or reduce positions, or withdraw only the amount the window shows as available.

Does Hyperliquid have KYC for deposits?

Hyperliquid is a non-custodial on-chain exchange: you deposit from your own wallet and there is no account verification in the app. Check the rules that apply where you live, and any KYC done by the exchange you send from.

Do deposits count as profit in my PnL?

They shouldn't. A balance-only view mixes deposits with trading results. A tracker that calculates realized and unrealized PnL from fills, like Hyperfolio, keeps the two apart.

Deposited? Now track what the money is really doing

Once your USDC is on Hyperliquid, the job changes from moving money to knowing what it earns. Hyperfolio is a free, read-only Hyperliquid portfolio tracker: paste your public address (no wallet connection, no private keys) and see equity, realized and unrealized PnL, open perps, spot, staking and your full equity history, plus your sub-accounts and the wallets you follow. Not trading on Hyperliquid yet? Sign up with the HYPERFOLIO referral code for 4% off trading fees, then open app.hyperfolio.fun to watch your first deposit work.