Risks to understand
Leverage and liquidation
Leverage and liquidation
Leverage makes gains and losses larger. With leverage, a small price move against you can wipe out your margin, and Hyperliquid can liquidate your position.
Fast markets
Fast markets
Prices can gap. Market orders, take profits and stop losses can fill worse than expected, or not fill at all.
Software and connections
Software and connections
Lance, Telegram, your browser, your wallet or Hyperliquid can be slow or unavailable. Orders may fail, and alerts may arrive late or not at all.
Third-party exchange
Third-party exchange
Your funds and positions are on Hyperliquid. Lance doesn’t control Hyperliquid, its markets, its prices or its availability.
Testnet
Testnet
Lance runs on Hyperliquid testnet for now. Testnet funds have no value, and testnet can behave differently from mainnet.