# 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.

***

<figure><img src="https://2516265397-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FJHPweZaUGqPeoTwjADbq%2Fuploads%2FeMB7bvfndEliMwePbWca%2Fha.png?alt=media&#x26;token=b82b09da-2f57-4534-8397-1e4481444566" alt=""><figcaption></figcaption></figure>

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.