> For the complete documentation index, see [llms.txt](https://docs.cod3x.org/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.cod3x.org/introduction/trading-with-hyperliquid.md).
# Trading With Hyperliquid
### Trading Infrastructure & Hyperliquid
Cod3x executes all perpetual trades **directly on Hyperliquid**.\
Every long or short your agent opens, every limit order, every liquidation—\
all of it ultimately routes through Hyperliquid’s high-performance matching engine.
> **Why it matters**\
> Understanding Hyperliquid’s orderbook mechanics helps you anticipate fills, liquidity behavior, funding, and execution quality. The Cod3x terminal simplifies trading, but the underlying rules remain Hyperliquid’s.
***
Make sure to select Hyperliquid as your preferred exchange in the tools section in order to trade on Hyperliquid.
***
### What You Should Know
Even though Cod3x abstracts the complexity of interacting with an orderbook, your trades inherit Hyperliquid’s:
* **Orderbook Mechanics** – Orders interact with real bids/asks; liquidity depth determines fills.
* **Funding Payments** – Longs and shorts pay or receive funding based on market imbalance.
* **Maker/Taker Fees** – Taker orders consume liquidity; maker orders provide it and can earn rebates.
* **Liquidation Rules** – Positions are liquidated when margins fall below Hyperliquid’s thresholds.
* **Execution Behavior** – Fill quality depends on volatility, liquidity, and order type.
* **Oracle & Mark Price** – Hyperliquid uses its own oracle and index system to determine PnL, funding, and liquidation points.
***
### Learn the Hyperliquid Details
For a deep dive into fee schedules, orderbook mechanics,\
and all other protocol rules, start here:
👉 [**Hyperliquid Documentation**](https://hyperliquid.gitbook.io/hyperliquid-docs)
This is the authoritative reference on:
* Maker/taker fees and funding rate calculations
* Margin requirements, mark price, and risk parameters
* Orderbook behavior and matching engine
* Liquidation logic and guardrails
* Market specifications and contract details
***
### Bottom line
Cod3x gives you a streamlined AI trading experience,\
but **your trades still follow Hyperliquid’s rules**.\
Reading the Hyperliquid docs ensures you know exactly how costs, risks, and execution work behind the scenes.
---
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