Hyperliquid launches trailing stops across perpetual markets

Hyperliquid has added trailing stop orders to its perpetual futures markets, giving traders a way to move their trigger price automatically as a position moves in their favor. Summary Hyperliquid has introduced trailing stops for perpetual markets, with trigger prices moving automatically as positions move in traders’ favor. Long positions track the highest mark price after activation, while short positions follow the lowest before triggering on a selected retracement. Traders can set an activation price or begin tracking immediately, with triggered stops executing as market orders. According to Hyperliquid, the new order type tracks the mark price after activation and triggers a market order when the price pulls back from its best level by a distance or percentage selected by the trader. Trailing stops are now available for perp markets. A trailing stop's trigger price follows the mark price as it moves in favor of the position. When the mark price retraces from its best level by the selected distance or percentage, it triggers a market order. For long… — Hyperliquid (@HyperliquidX) September 21, 2026 For a long position, the trailing stop follows the highest mark price reached after tracking begins. For a short position, it follows the lowest mark price. Traders can set an activation price to determine when tracking starts or leave the field empty to begin tracking immediately from the current mark price. The feature expands Hyperliquid’s existing set of conditional order tools as activity across its perpetual futures platform continues to grow. Hyperliquid trailing stops follow the mark price Unlike a fixed stop price, Hyperliquid’s trailing stop adjusts when the market moves in favor of an open position. For example, a trailing stop attached to a long position will follow the highest mark price reached after activation. If the mark price continues rising, the trigger moves with it. Once the market retreats by the distance or percentage chosen by the trader, the order is triggered. Short positions work in the opposite direction. The trigger follows the lowest mark price reached since activation and executes once the price rebounds by the configured amount. Hyperliquid said traders can choose between a fixed distance and a percentage when setting the retracement threshold. An optional activation price lets the user delay tracking until the market reaches a specified level. Without an activation price, the current mark price becomes the starting point. You might also like: Hyperliquid posts strong $429M revenue, leads 2026 Once the retracement condition is met, the trailing stop triggers a market order for the selected quantity. Hyperliquid’s existing take profit and stop loss system similarly uses the mark price to determine when conditional orders are triggered, according to the platform’s documentation.