Hyperliquid
GRVT
AsterDEX
Extended
Decibel
StandX
Phoenix
Disclosure: fomoed may earn a small commission if you open an account through the exchange links in this article.
Hyperliquid has rapidly established itself as the go-to decentralized exchange for perpetual futures trading, with billions in daily volume, zero gas fees, and one of the deepest order books in crypto. Setting up a trading bot on Hyperliquid through fomoed gives you 24/7 automated trading on this powerful exchange at no cost. This guide walks through every step of the process in detail, from creating your Hyperliquid account to launching your first live bot.
Step 1: Setting Up Your Hyperliquid Account
If you do not already have a Hyperliquid account, the first step is to visit app.hyperliquid.xyz and connect a Web3 wallet. Hyperliquid supports MetaMask, Rabby, WalletConnect, and several other popular wallet providers. Click the connect button in the upper right corner and approve the connection request in your wallet. Once connected, your wallet address serves as your Hyperliquid account. There is no separate registration process, no email verification, and no KYC requirement. Your wallet is your identity on the platform.
After connecting, you need to deposit USDC to begin trading. Hyperliquid operates on Arbitrum, so you will need USDC on the Arbitrum network. If your USDC is on Ethereum mainnet or another chain, you can bridge it to Arbitrum using the official Arbitrum bridge or a third-party bridge service. Once your USDC is on Arbitrum, click the deposit button on Hyperliquid, enter the amount you want to deposit, and approve the transaction in your wallet. Deposits typically confirm within a few minutes. You can start with as little as $10 for testing purposes, though a minimum of $50 to $100 is recommended for meaningful bot trading.
Step 2: Creating Your Bot on fomoed
Log into your fomoed dashboard and click the Create Bot button. The setup wizard opens and guides you through each configuration step. The first choice is your exchange. Select Hyperliquid from the list of supported exchanges. You will then be prompted to enter your credentials, and this is where you make an important security decision.
Step 3: Connecting Your Wallet
fomoed offers two methods for connecting your Hyperliquid wallet, and understanding the difference is important for making an informed security choice.
The recommended approach is using an agent wallet. An agent wallet is a concept unique to Hyperliquid where you authorize a separate key pair to trade on behalf of your main wallet. The agent can open positions, place orders, and manage trades, but it has absolutely no ability to withdraw funds or transfer assets. This separation means that even in the worst-case scenario where your agent wallet credentials are exposed, your funds remain completely safe in your main wallet. When you select the agent wallet option in fomoed, the platform generates a new agent key pair and guides you through the approval process on Hyperliquid. You approve the agent in your wallet with a single transaction, and from that point forward, the bot uses the agent credentials for all trading operations. Your main wallet's private key never leaves your control.
The alternative is entering your wallet's private key directly. This gives the bot full trading access and is simpler to set up, but it means your private key is stored on fomoed's servers. While fomoed encrypts all credentials with AES-256 encryption and follows security best practices, the agent wallet approach is objectively more secure because it limits the bot's permissions to trading only. For any account with meaningful capital, the agent wallet is strongly recommended.
Step 4: Choose Your Strategy
With your exchange connected, the next step is selecting a trading strategy. fomoed offers seven strategies that each suit different trading styles and market conditions. The RSI Custom strategy is ideal for technically oriented traders who want to automate entries based on RSI crossovers with optional confirmation from EMA, MACD, volume, and Bollinger Band filters. It works across all timeframes and is particularly effective on the 15-minute to 4-hour charts. DCA is best for traders who want to systematically buy dips and take profits on recoveries. It handles the emotional difficulty of buying when prices are falling by automating the entire process through safety orders and volume scaling.
Grid trading excels in ranging, sideways markets where price oscillates within a defined range. It is also the most popular strategy for Hyperliquid airdrop farming because of the volume it generates. The Webhook strategy connects your TradingView alerts to fomoed, so any Pine Script indicator or strategy can trigger real trades on Hyperliquid. This is perfect for traders with custom technical analysis setups who want automated execution. The AI Agent analyzes multiple market indicators and timeframes to make autonomous trading decisions. Copy Trading lets you mirror the positions of successful traders by following their wallet address. Smart Money Concepts automates institutional-style trading based on order flow and market structure analysis.
Step 5: Select Your Market and Pair
After choosing your strategy, you select your market type. On Hyperliquid, this is typically Futures, which gives you access to perpetual contracts with leverage. The pair selection screen lets you search through Hyperliquid's 150-plus available pairs. Type the name or ticker of the asset you want to trade and select it from the results. Popular choices for bot trading include BTC/USDC for its deep liquidity, ETH/USDC for consistent volatility, SOL/USDC for larger swings, and DOGE/USDC for high-frequency grid trading.
You then set your position size in USD, which determines how much capital the bot deploys per trade. For DCA strategies, this is your base order size. For grid strategies, this is your total grid investment. Leverage is configured on the same screen. Hyperliquid supports leverage up to 50x on major pairs, though conservative leverage of 2x to 5x is recommended for most bot strategies. Higher leverage amplifies both gains and losses, and with bots running 24/7, a sudden market move at high leverage can result in rapid liquidation before you have time to intervene.
Step 6: Configure Strategy Settings
Each strategy has its own dedicated configuration screen with settings tailored to that specific approach. For RSI Custom, you set the RSI period (typically 14), the overbought level (default 70), oversold level (default 30), and your preferred timeframe. You can enable additional filters to require confirmation from EMA trends, MACD crossovers, or volume spikes before entering a trade. For DCA, you configure the number of safety orders, the price deviation between each order, the volume multiplier that scales up each subsequent safety order, and your take profit percentage. For Grid, you set the number of grids, the price range boundaries, and the trading direction.
Step 7: Set Take Profit and Stop Loss
Risk management is the most critical part of any bot configuration. fomoed offers advanced take profit options including scale-out take profits, where you can close 25 percent of your position at one level, another 25 percent at a higher level, and so on. This lets you lock in partial profits while keeping a portion of the position open for larger moves. For stop loss, you set a percentage below your entry where the bot will close the position to limit losses. The move-stop-after-TP1 feature automatically moves your stop loss to breakeven after the first take profit target is hit, eliminating loss risk on the remaining position. Trailing stop loss follows the price upward, maintaining a set distance below the highest point reached.
Step 8: Review and Start
The final screen displays a complete summary of every setting you have configured. Review your exchange, strategy, pair, position size, leverage, strategy parameters, take profit levels, and stop loss settings carefully. Once you are satisfied, click Start to launch your bot. It will begin monitoring the market and executing trades immediately based on your configuration. You can monitor your bot's performance, view its trade history, and adjust settings at any time from your fomoed dashboard. Telegram notifications keep you informed about every trade without requiring constant monitoring.
If you are not ready to trade with real money, toggle the paper trading switch before starting. Paper trading uses live Hyperliquid market data but executes simulated trades, letting you validate your strategy with zero financial risk. Once you are confident in your settings, switching to live trading is a single click. The entire setup process takes less than five minutes, and your bot will continue trading 24/7 on Hyperliquid without any monthly fees.