MetaMask, one of the most widely used self-custodial crypto wallets, appears to be preparing in-wallet perpetuals trading using Hyperliquid. This upcoming feature, revealed through leaked code on MetaMask’s public GitHub, would let users trade perpetual futures right inside the wallet. If rolled out, it could make advanced trading tools easier to access by keeping everything in one familiar place.

MetaMask Expands Beyond a Wallet

For years, MetaMask has served as a trusted gateway to the decentralized web, used by over 30 million people each month. It has been a place to store tokens, connect to dApps, and swap assets. The new feature shows that MetaMask is no longer just focusing on token storage, it is positioning itself as a full financial hub.

According to code updates, the team has been working on a dedicated “Perps” tab within the wallet. This tab includes a USDC deposit flow, market list, and real-time gas fee estimates, allowing users to fund their perpetual trading account and start trading without leaving the app. This means no more jumping between multiple websites or exchanges just to open a position.

What Hyperliquid Brings to the Table

The integration is powered by Hyperliquid, a decentralized derivatives platform built on its own Layer 1 blockchain. Hyperliquid is known for high-performance perpetual futures trading, with fully on-chain settlements and gas-free transactions. Its custom HyperEVM supports over 200,000 orders per second, aiming to deliver the speed of centralized exchanges while keeping the transparency and security of DeFi.

Hyperliquid currently dominates the DeFi perpetuals market, handling roughly 70–80% of all on-chain perpetual volume. In August alone, the platform processed over $383 billion in trading volume and generated $106 million in revenue, according to DeFiLlama data. Its lean approach is also notable, a small team of around 11 people operates the exchange, relying heavily on automation and smart contracts.

Development Timeline and Testing

Evidence of the feature first appeared in July 2025 when MetaMask merged code introducing perpetual trading functions. Over the next few months, developers added deposit flows, order creation for market and limit trades, and a new navigation tab just for perpetuals.

By August, testing had already begun. Early testers reported issues like failed deposit transactions and incorrect profit-and-loss calculations, which are normal during development. September saw more active testing, with developers labeling several builds as release candidates and addressing glitches such as duplicate trades and loading delays. This suggests the rollout is approaching.

As of now, MetaMask has not announced an official release date. Industry watchers speculate that the feature could be announced at Token2049, one of the year’s biggest crypto conferences, where Hyperliquid is also expected to host an event.

Part of a Bigger Strategy

This move comes alongside other major MetaMask updates. The wallet recently launched its own USD-pegged stablecoin, MetaMask USD (mUSD), and Consensys CEO Joseph Lubin confirmed that a native MASK token is on the way. These steps point to MetaMask’s larger plan to become more than just a wallet, it’s becoming a platform for swaps, payments, stablecoin use, and now derivatives trading.

If the Hyperliquid integration launches as expected, it could reduce one of DeFi’s biggest frictions: the need to use multiple interfaces for trading. Users would be able to deposit stablecoins and open positions from the same place they already manage their tokens.

Why This Matters

Bringing perpetual trading into MetaMask could make advanced tools more accessible to regular users. Today, perpetual futures are mostly traded on centralized exchanges or specialized platforms. By keeping the process inside the wallet, MetaMask lowers the barrier to entry and encourages more users to experiment with DeFi derivatives.

For Hyperliquid, this partnership opens the door to MetaMask’s huge user base and could further boost its already significant market share. Some market analysts have even suggested that the integration could double Hyperliquid’s daily trading volume if adoption is strong.

Final Thoughts

MetaMask in-wallet perpetuals trading using Hyperliquid is still in testing, but the steady stream of code updates and release candidates shows that development is moving quickly. If launched, it will give users a way to trade leveraged futures without leaving their wallet, blending convenience with the security of self-custody. This integration could be one of the biggest steps yet toward making decentralized finance feel as seamless as using a centralized exchange, but with full control in the hands of the user.