Expand description
Hyperliquid ExecutionClient implementations for perpetual futures and spot trading.
Uses the official hyperliquid_rust_sdk crate for REST and WebSocket API access.
Gated behind the “hyperliquid” feature flag.
§Modules
HyperliquidClient: Perpetual futures clientspot::HyperliquidSpotClient: Spot trading client
§Authentication
Hyperliquid uses EVM-based authentication (Ethereum private key + EIP-712 signatures) instead of traditional API key/secret. The SDK handles all signing internally.
§Architecture
- REST (
InfoClient): account_snapshot, fetch_balances, fetch_open_orders, fetch_trades.fetch_tradesposts to/infothrough the SDK’s HTTP client but parses the response intocommon::UserFillrather than the SDK’s type, which dropstidandfeeToken. - REST (
ExchangeClient): open_order, cancel_order - WebSocket (
InfoClientwithwith_reconnect): account_stream via UserFills + OrderUpdates subscriptions
§SDK Delegation Model
This client delegates connection management to the official hyperliquid_rust_sdk:
| Responsibility | Implementation |
|---|---|
| Reconnection | InfoClient::with_reconnect() handles WebSocket reconnection automatically |
| Heartbeat | SDK manages WebSocket ping/pong internally |
| Deduplication | This client’s own, on the fills stream. See below. |
| Fill recovery | Not implemented — use ExecutionClient::fetch_trades after reconnect if needed |
Caller responsibilities:
- If fill recovery is critical, monitor for reconnection events and call
fetch_trades() - REST clients (
InfoClient::new(),ExchangeClient::new()) do NOT auto-reconnect; only WebSocket streams viawith_reconnect()do
§Trade identity and duplicate fills
A Trade’s id is the venue’s tid, which identifies the fill. It is deliberately not
hash, which identifies the transaction: one aggressive order sweeping several resting orders
produces several fills under a single hash, and keying on the hash makes them indistinguishable.
Hyperliquid documents tid as unique per fill but qualified by coin rather than globally, so
callers reconciling across instruments should qualify it the same way.
The fills subscription opens with a snapshot of recent fills and the SDK resubscribes on every
reconnect, so the same fill is redelivered each time the socket comes back. A trade is a delta
the consumer accumulates, so this client deduplicates the stream itself — the cache is scoped to
one ExecutionClient::account_stream call and survives reconnects within it.
Order updates are deliberately not deduplicated. They assert absolute state rather than a delta, so a replayed one is idempotent while a dropped one could strand a consumer on stale state.
ExecutionClient::fetch_trades does not deduplicate: it answers the window it was asked for,
and its results reach the caller rather than the stream. A caller feeding both into one consumer
should expect overlap and reconcile on the trade id.
§Client order ids
Every order must be placed under a client id in
ClientOrderId::uuid() form: a UUID, lowercase and
hyphenated. Any other id is refused at placement with OrderError::Rejected, before anything
is sent.
Hyperliquid tracks an order by its venue oid and by an optional 16-byte cloid, and reports
the cloid back on every order record, REST and WebSocket alike. This client sends the client
id as the cloid and turns the one reported back into the same id, so every account snapshot,
open-order listing and order update names an order by the id it was placed with. Only that
form of UUID comes back unchanged, which is why nothing else is accepted.
An order placed some other way, such as the web app, has no cloid and is reported under its
oid. It cannot be one of this client’s orders, which is what lets an account snapshot declare
its order list complete (see InstrumentAccountSnapshot::orders_complete).
§Conditional Orders (Stop, TakeProfit)
Hyperliquid supports conditional (trigger) orders via the ClientOrder::Trigger variant.
Supported order kinds:
Stop→ market order triggered at stop price (tpsl: "sl",is_market: true)StopLimit→ limit order triggered at stop price (tpsl: "sl",is_market: false)TakeProfit→ market order triggered at take-profit price (tpsl: "tp",is_market: true)TakeProfitLimit→ limit order triggered at take-profit price (tpsl: "tp",is_market: false)
Unsupported: TrailingStop, TrailingStopLimit (Hyperliquid does not support trailing stops)
SDK limitations (hyperliquid_rust_sdk 0.6.x): neither the open orders this client reads
nor OrderUpdate carry an order’s trigger fields or time in force, so orders from both are
reported as OrderKind::Limit, GoodUntilCancelled. Track OrderKind from the placement
request.
§Limitations
- Price precision: Hyperliquid requires 5 significant figures for prices
Re-exports§
pub use config::HyperliquidConfig;pub use config::HyperliquidConfigError;
Modules§
- common
- Shared utilities for Hyperliquid execution clients (perps and spot).
- config
- Configuration for the Hyperliquid execution client.
- error
- Error mapping for Hyperliquid SDK errors to rustrade-execution error types.
- spot
- Hyperliquid spot trading ExecutionClient implementation.
Structs§
- Hyperliquid
Client - Hyperliquid perpetual futures execution client.