Perp trading has quickly become one of the biggest trends in crypto, with platforms like Hyperliquid, Aster, and Lighter locking in over $30B in daily trading volume. MetaMask has now added its own Perps trading feature powered by Hyperliquid, giving users the ability to open and manage perpetual positions directly within the app. The setup is straightforward and designed to feel familiar for existing traders. In this guide, you’ll learn how to trade Perps on MetaMask step by step, from opening your first position to tracking and closing trades efficiently.

 

How Does MetaMask Perp Works?

MetaMask Perps is built to work across all EVM-compatible networks, meaning you can use tokens like ETH, mUSD, BNB, USDC, or USDT from any chain. When you add funds, MetaMask automatically swaps them into USDC on Arbitrum, which is then deposited onto HyperEVM, the trading layer powered by Hyperliquid.

The process happens in the background with no MetaMask swap fee or additional bridge step, only a small network fee is charged during the conversion. Once your account is funded, you can start trading over 150 markets directly inside the wallet with up to 40x leverage.

All trades follow Hyperliquid’s fee structure, with 0.0150% maker and 0.0450% taker fees, ensuring on-chain execution without giving up self-custody.

Read also: How to Recover Your MetaMask Wallet

 

How to Trade Perps on MetaMask

MetaMask’s Perps feature is built to work directly inside the mobile app, allowing users to open and manage positions without connecting to external platforms. The interface feels similar to any standard trading terminal, just simplified for on-chain use. Here is how you start trading Perps on MetaMask wallet:

Step 1: MetaMask Perps is only available on the latest version, so head to the Google Play Store, search MetaMask, and tap “Update”.

Step 2: Once MetaMask is updated, open the MetaMask Mobile app.

Step 3: To access MetaMask Perps, tap the “Swap” icon in the bottom toolbar.

Step 4: A pop-up menu will appear. From there, tap the “Perps” tab to enter MetaMask Perps.

Step 5: Tap the “Add funds” button to fund your MetaMask Perps account.

Step 6: To change the asset you want to swap, tap the Token dropdown and select your preferred token.

Step 7: After selecting the token, enter the amount you want to deposit into your MetaMask Perps account and tap “Continue”.

Step 8: Review the transaction details carefully, then tap “Continue” again to confirm and deposit your funds.

Step 9: Once your MetaMask Perps account is funded, tap the token you want to trade from the Perps screen.

Step 10: The trading interface includes TradingView charts. Tap “Long” or “Short” to open a position based on your market view.

Step 11: On the next screen, set your order type by tapping the Order dropdown in the top right corner. You can choose between a Limit or Market order.

Step 12: Adjust your trade by setting the amount, leverage, and Take-Profit/Stop-Loss (TP/SL) levels.

Step 13: Once ready, tap “Long” or “Short” to confirm your position.

With that, your position is now open on MetaMask Perps. Transactions are fast and seamless, with minimal fees involved.

 

How to Monitor or Close Your Position

Once your trade is live, MetaMask Perps gives you a clear overview of your open positions and performance. You can easily track your margin, liquidation price, and funding fees right from the Perps screen. The same panel also lets you adjust your take-profit or stop-loss levels, or close positions whenever you’re ready. Here’s how you can monitor and close your position on MetaMask Perps:

Step 1: Go back to the MetaMask Perps screen and select the token you opened a position on.

Step 2: Tap the “Position” tab to view all your active trades for the selected token.

Step 3: You’ll see details such as margin, liquidation price, and funding fees. To modify your TP/SL, tap “Edit TP/SL”.

Step 4: To close your trade, tap the “Close Position” button.

Step 5: On the next screen, adjust the position size you want to exit using the toggle, then tap “Close Position” to finalize the trade.

 

 

Withdraw Funds from MetaMask Perps

You can withdraw funds anytime from the Perps screen. A $1 withdrawal fee is applied, and withdrawals are sent as USDC to your MetaMask wallet on the Arbitrum network.

Step 1: Go to the MetaMask Perps screen and tap the “Withdraw” button.

Step 2: Enter the amount you want to withdraw, then tap “Withdraw” again to confirm.

 

What are MetaMask Perps?

Perpetual futures, or Perps, are a type of crypto derivative that let traders take long or short positions on a token’s price without an expiry date. You can go long if you expect a token’s price to rise, or short if you think it will fall. Unlike traditional futures, Perps don’t expire, which gives traders the flexibility to hold positions for minutes or months depending on their strategy.

With MetaMask Perps, users can trade directly within the MetaMask Mobile app, using up to 40x leverage on more than 150 tokens, including ETH, BTC, LINEA, XPL, and BONK. The entire experience stays inside the wallet, powered by Hyperliquid’s on-chain infrastructure, so users never have to leave MetaMask to open, manage, or close a position.

Features of MetaMask Perps

1. Fast order processing: Trades are executed within seconds, allowing users to enter or exit positions quickly.

2. User custody: Funds remain in the user’s MetaMask wallet. Orders such as limit, stop-loss, and take-profit can be configured directly within the app.

3. EVM token support: Any EVM-compatible token can be used to start trading. Deposits are automatically converted to USDC for margin purposes.

4. Market visibility: Live charts and notifications display price movements and order updates in real time.

Also read: MetaMask Perp Trading Powered by Hyperliquid Goes Live

 

Bottom Line

Trading Perps on MetaMask is simple once you get the hang of it. Everything happens inside the wallet, from funding your account to opening and closing trades, making the whole process quick and convenient. It’s a great option for anyone who wants to trade on-chain without switching platforms or giving up control of their assets.

MetaMask has been evolving rapidly, and educating yourself about its features is always a smart step. You can continue reading our guide on how to secure and back up your MetaMask wallet, or switch to Hyperliquid to trade directly. For that, our guide Hyperliquid trading is a great place to begin.

 

FAQs

1. Is MetaMask Perps available on desktop?

No, the Perps trading feature is currently available only on the MetaMask Mobile app for Android and iOS. Desktop support hasn’t been announced yet.

 

2. What are the trading fees on MetaMask Perps?

MetaMask Perps uses the same fee structure as Hyperliquid; 0.0150% maker and 0.0450% taker. There are no extra MetaMask swap or bridge fees when funding your Perps account.

 

3. Are MetaMask Perps safe to use?

MetaMask Perps operate through self-custody, meaning you remain in full control of your assets. However, perpetual trading carries risk due to market volatility and leverage exposure, so it’s best to start small and manage risk carefully.