Hyperliquid rolls out trailing stops for perpetual markets

Hyperliquid has made trailing stops available for its perpetual markets. A trailing stop's trigger price tracks the mark price as it moves in favor of the position, so when the mark price retraces from its best level by a user-selected distance or percentage, it automatically places a market order.

• For longs, the stop trails the price on pullbacks; the same logic applies in reverse for shorts
• The distance or percentage threshold is set at order entry

This adds a new safety- and profit-protection order type to Hyperliquid's perp trading toolset, complementing existing order configurations on the exchange.