Markets
Funding your account
Last updated
All trading on Markets is denominated in USDH, the Hyperliquid native stablecoin built by Native Markets. USDH provides multiple funding options and unique benefits as an aligned quote asset.
Deposit options
Method | Details |
|---|---|
Cash/Fiat on-ramp | KYC in minutes via Bridge → deposit fiat or USDC → receive USDH 1:1 with no fees |
Cross-Chain Bridge | Bridge USDC from Ethereum, Arbitrum, Base, Solana to USDH in seconds (via Across) |
DeFi Swap | Swap from 75+ chains to USDH permissionlessly (via Relay) |
Direct Transfer | Send USDH directly from another wallet or CEX |
Deposit with Card | On-Ramp funds directly using card (multiple providers) |
What is USDH?
USDH is Hyperliquid's native stablecoin, built by Native Markets — an American DeFi company focused on making stablecoins the foundation for all financial transactions.
Institutional-grade backing
- 1:1 Reserves: Fully backed by cash, US Treasuries, and cash equivalents
- Reserve Management: BlackRock (offchain) and Superstate (onchain)
- Custody: US-regulated banks including JP Morgan Chase and Lead Bank
- Issuer: Issued by Bridge, a Stripe company ensuring safety and compliance
Transparency & compliance
- Monthly Attestations: Third-party reserve attestations available at <https://usdh.com/transparency>
- GENIUS-Ready: Operated in line with GENIUS Act requirements
- Regulated Infrastructure: Built on Stripe's secure, global payments systems powering 1.3% of global GDP
USDH as the aligned quote asset
All listings on Markets are natively paired with USDH under the Aligned Quote Asset (AQA) framework, making it the most cost-effective trading experience.
Trading benefits
When trading perps quoted in USDH on Markets, you automatically receive:
Benefit | Details |
|---|---|
Lower taker fees | 20% discount on taker fees |
Better maker rebates | +50% higher rebates for providing liquidity |
Volume efficiency | +20% volume contribution toward fee tiers |
Ecosystem growth | 50% of USDH gross revenue flows to Hyperliquid Assistance Fund |
Why this matters
For traders: Lower fees and better rebates mean more of your profits stay in your pocket.
For Hyperliquid: Native Markets contributes 50% of USDH reserve yield to the Hyperliquid Assistance Fund, which is then converted to HYPE. In essence, as the liquidity and usage of Markets grows, the Hyperliquid ecosystem grows with it.
Result: Using USDH makes Markets the cheapest place to trade perpetuals for global markets.
Native Markets contributes 50% of USDH reserve yield to the Hyperliquid Assistance Fund, which is then converted to HYPE. In essence, as the liquidity and usage of Markets grows, the Hyperliquid ecosystem grows with it.