How to Set Take-Profit and Stop-Loss Orders on Hyperliquid

A take-profit or stop-loss order on Hyperliquid doesn’t execute at your exact target price, it triggers at that price, then places a market or limit order. That distinction changes what actually happens when the market moves fast.

This guide continues TradeOnDEX’s Hyperliquid how-to series within Perpetual Futures, and assumes you already have an open position.

Disclosure: TradeOnDEX may earn a commission from links to Hyperliquid on this page, at no extra cost to you. Full details at the end of this article.

What does a TP/SL order actually do?

A take-profit (TP) order closes your position once the price reaches a target you set in your favor. A stop-loss (SL) order closes it once the price moves against you past a threshold you set.

Neither order sits on the order book upfront. Both stay inactive, tracked by Hyperliquid’s matching engine against the mark price, until that trigger price is reached, only then does the order actually get submitted for execution.

This means for you, concretely: setting a stop-loss doesn’t guarantee you exit at that exact price. It guarantees an order gets submitted at that price, and what happens next depends on which order type you chose.

Stop Market vs. Stop Limit: the choice that matters most

• Stop Market triggers at your price and immediately executes as a market order. It prioritizes getting you out over getting a specific price, in a fast-moving market, your actual fill can be noticeably worse than your trigger price.
• Stop Limit triggers at your price and places a limit order at a price you also specify. It gives you control over the worst price you’ll accept, but if the market gaps past your limit price without trading there, the order may not fill at all.

Neither is universally “correct.” Stop Market favors certainty of exit; Stop Limit favors certainty of price. In genuinely fast, thin markets, you can’t have both.

How to set TP/SL when opening a position

1. Set up your order as usual: market, direction, leverage, size.
2. Expand the TP/SL section in the order panel before confirming.
3. Enter your take-profit trigger price and your stop-loss trigger price.
4. Choose whether each should execute as a market or limit order on trigger.
5. Confirm the order, your entry and both trigger orders submit together.

By default, a TP/SL set this way is sized to close your entire position when it triggers.

How to add TP/SL to a position you already opened

1. Go to your Positions panel.
2. Find the open position and click Close.
3. Select Stop Market or Stop Limit as the order type.
4. Set your trigger price (and limit price, if applicable) and confirm.

You can add, edit, or remove TP/SL orders on an existing position at any time before they trigger.

Risk: what a trigger order does and doesn’t protect you from

A stop-loss limits how much further a losing position can move against you, it does not cap your loss at exactly your intended amount. Between your trigger price and your actual fill, especially with Stop Market in a volatile move, slippage can make your realized loss larger than planned.

Mark-price-based triggering is a deliberate design choice, not a loophole. Using mark price instead of the last traded price makes TP/SL (and liquidation) more resistant to a single thin trade briefly spiking the price. It also means your order can trigger at a level that differs slightly from what you see on a raw price chart driven by trade prints.

A stop-loss does not replace understanding your liquidation price. If your stop-loss trigger sits close to, or past, your liquidation price, a fast enough move can liquidate the position before your stop order gets a chance to fill, the exchange’s liquidation engine and your own order aren’t guaranteed to race in your favor. Leave meaningful distance between the two.

This isn’t fully within your control once submitted: once a trigger fires, execution depends on real-time order book liquidity, not just your settings. A Stop Market order in an illiquid market can still fill considerably worse than the mark price at the moment of trigger.

Stop Market vs. Stop Limit: a side-by-side view

See it for yourself

Try setting a TP/SL on a small test position first, and watch how the trigger and fill prices relate in practice, before relying on it for a position sized to matter. You can review the live order panel at app.hyperliquid.xyz.

Frequently asked questions

Will my stop-loss always execute at exactly the price I set?

Only if you use Stop Limit and the market trades at your limit price. Stop Market orders execute at the best available price once triggered, which can differ from your trigger price during fast moves.

Can I set TP/SL for only part of my position?

Yes, TP/SL set from the position form defaults to your full position size, but you can adjust the size manually to close only a portion.

What price does Hyperliquid use to trigger TP/SL, the trade price or something else?

The mark price, which is designed to be more resistant to manipulation from a single thin trade than the raw last-traded price.

Can I remove or change a TP/SL order after setting it?

Yes, at any point before it triggers, from the positions panel.

Affiliate disclosure

TradeOnDEX may earn a commission if you trade through a referral link, at no extra cost to you. Hyperliquid’s own affiliate/referral terms are still being confirmed for this site, so links in this article are direct and untracked for now. This article is educational and is not financial advice; TP/SL orders reduce certain risks but do not eliminate slippage, gap risk, or liquidation risk. See our disclaimer for the full risk warning.