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Hyperliquid Spot Perps

Introduction

Hyperliquid does not currently have perps for spot assets. With the introduction of the testnet evm that has access to spot prices, we can create GMX style perps. This implementation was done in 2 hours from start to finish and is very primitive.

Getting Started

First claim some gas token from the faucet:
curl -X POST --header "Content-Type: application/json" --data '{"type":"ethFaucet", "user": "0x7735cE49c065d175D5fC39CF030586575b5194c5"}' https://api.hyperliquid-testnet.xyz/info

To deploy:
forge script script/Main.s.sol --rpc-url $rpc --broadcast

This will deploy the Perpetual contract which will deploy a USDC token within its constructor.

Some Usage Instructions

  1. Ensure you've claimed gas from the faucet as mentioned above
  2. Perpetual.faucet() can be queried once per address and will cause the user to receive 10k mock USDC.
  3. Use Perpetual.openPosition(uint256 margin, uint256 usdNotional, bool isLong, uint256 assetIndex) to ape into something. margin is the amount of USDC that will be transferred out of your account (no approval needed, Perpetual has god approval). usdNotional is the amount of the token perp that will be created (i.e usdNotional / margin is your leverage, which cannot exceed 1000). isLong = false for short isLong = true for long. assetIndex is the index of the asset that you would like to purchase. It is unclear how that aligns with the asset name on testnet since there are much more assets on testnet then prices returned by the oracle. Use Perpetual.getMarkOraclePxs() which will return the prices (just a pass through to the oracle for simplicity, appears to be 10**3 precision).
  4. Use Perpetual.closePosition(uint256 tokenNotional, uint256 assetIndex) to close a position. This will transfer the user back their remaining margin + profit if any (position is checked for liquidation prior to closing). tokenNotional is demoninated in the token count - you can use Perpetual.balanceOfNotional(address user, uint256 assetIndex) to find out how much notional someone has in their position.
  5. Perpetual.liquidateAllUsers() should be called periodically to ensure there isn't any bad-debt (there probably will be since leverage is super high and LTV is 1 but we don't really care here).
  6. Perpetual.getUserPositions(address user) to return information for a users given positions such as pnl, margin, initial debt, etc.
  7. Perpetual.getPositionValue(address user, uint256 assetIndex) gives the USDC value of a given perp position.
  8. Perpetual.getPositionPnl(address user, uint256 assetIndex) gives the USDC PnL of a given perp position (can be negative obviously).

Contract Addresses

Perpetual = 0x213f84F9eb781046108996D11B665B5dE9137CA2
USDC = 0x086C49A2b42bD3eF3F9857C64630f76395F88868

Hyperliquid EVM Background information

  1. Discord post #1
  2. Discord post #2
  3. Tweet
  4. JSON-RPC endpoint: https://api.hyperliquid-testnet.xyz/evm. chainId = 998.

Foundry

Foundry is a blazing fast, portable and modular toolkit for Ethereum application development written in Rust.

Foundry consists of:

  • Forge: Ethereum testing framework (like Truffle, Hardhat and DappTools).
  • Cast: Swiss army knife for interacting with EVM smart contracts, sending transactions and getting chain data.
  • Anvil: Local Ethereum node, akin to Ganache, Hardhat Network.
  • Chisel: Fast, utilitarian, and verbose solidity REPL.

Documentation

https://book.getfoundry.sh/

Usage

Build

$ forge build

Test

$ forge test

Format

$ forge fmt

Gas Snapshots

$ forge snapshot

Anvil

$ anvil

Deploy

$ forge script script/Counter.s.sol:CounterScript --rpc-url <your_rpc_url> --private-key <your_private_key>

Cast

$ cast <subcommand>

Help

$ forge --help
$ anvil --help
$ cast --help