Trade ticket

The trade ticket is the order form in the Trade panel beside your chart. It trades the market on the active chart: a Hyperliquid market, or a perpetual on an exchange you have linked. On a perpetual you fill in the order once, then press Buy / Long or Sell / Short. Each button names the size and the price it sends.

Open the ticket

• Press T on a chart whose market you can trade. Press it again to close the panel.
• Open the Panels menu and pick Trade.
• Open super search with Ctrl/Cmd+J and type "Trade ticket".

When you open a Hyperliquid chart, the panel opens by itself, unless you closed it in that workspace. Close it with the × in its header, or press Escape while you are working in it.

The header and the account line

The top of the ticket names the market, such as BTC, with its kind beside it: Perp, HIP-3, Spot or Outcome.

The line under the market name is the account line. It names the venue your orders go to, such as Hyperliquid or Lighter.

• Hover the account line to see the account's full address. The address links to the account on the venue's explorer, and the button beside it copies the address. An exchange account linked with an API key has no address, so it shows no card.
• Click the account line to choose where orders go. Where more than one of your accounts can trade the chart, the line carries a small arrow and opens an Orders go to menu. With one account, the line is plain text.

On a perpetual, once your account is connected, the button beside the market name shows your margin mode and leverage, for example Cross · 20×. Click it to open Position settings: pick Cross or Isolated where the market offers both, and set the leverage with the slider or a preset. A change is sent to the venue at once, with no save button. The margin mode cannot change while you hold a position on that market.

The cog at the right opens Trade settings.

Order type

Market and Limit sit at the top of the form. Pro opens the other order types:

• Stop limit, Stop market, Take limit and Take market add a Trigger price. When the market reaches it, the order is placed as a market or a limit order, as Execution says.
• Scale spreads one order over a price range. Set the Start price, the End price, the Total orders and the Size skew. Quantity is the size of the whole ladder.

Under the order type, Available shows the money you can put into new orders now. On a perpetual, Position shows your open position on this market, or None. Hover either word for a one-sentence explanation.

Price, Quantity and Value

• Price is your limit price. Type it, press Mid to set it to the mid price, or press the crosshair button and click the chart: the price under your click lands in the field. Clicking into the Price field also picks from the chart while you type. Press Escape to stop picking. On a market order the Price row stays in place, greyed out.
• Quantity is the size in the asset's own unit, such as BTC.
• Value is the same order in the quote currency, such as USDC. Type in either field and the other follows.
• The slider and the % box size the order as a share of what you can trade. On a perpetual, 100% is the largest size both buttons can place.

On a limit order, a draft line on the chart shows your price, with Limit and the size on its label. Drag the line and the Price field follows. The line is only a preview: dragging it sends nothing and moves no order. It hides while one of your own orders or positions sits at the same price, so that line's buttons stay easy to reach.

TP/SL, Reduce-only and time in force

One row under the size holds the order's options.

• TP/SL adds a take profit and a stop loss to the order. Tick it and two fields open, Take profit and Stop loss. You type each one as a distance from the entry: % gain for the take profit and % loss for the stop loss. The buttons under each field switch it to a price, or to the profit or loss in money. A leg fills at market once triggered; open its Fills at market menu and choose Limit to give it a limit price instead. Both legs go live when the entry fills.
• Reduce-only, on perpetuals, lets the order shrink or close your position but never open or grow one.
• The time in force menu sits at the end of the row: GTC (Good till cancel), IOC (Immediate or cancel) and Post-only. It applies to orders that rest on the book, limit and scale orders; a market order shows IOC, greyed out. A post-only limit that would fill at once holds its button.

One percentage serves both buttons. For Buy / Long the take profit sits above the entry and the stop loss below it; for Sell / Short it is the other way round. A take profit or stop loss typed as a price is the same price for both sides, so it suits only one of them, and the other button is held.

TP/SL rides limit and market orders on perpetuals, on venues that accept it together with the entry. Stop, take and scale orders and reduce-only orders carry none: the option stays in place, greyed out, and hovering it says why.

Place the order

On a perpetual, Buy / Long and Sell / Short sit right under the options. Each button names the size and the price it sends, or Market for a market order. Press a button to send that side's order. Each side is checked on its own, so one button can be ready while the other is held.

• With no size yet, the buttons read Enter an order size. The line under them says what the order still needs: a price on a limit order, then a quantity.
• When a button is held, the line under the buttons says why. When only one side is held, the line starts with that side's name.
• Under each button, the ticket shows what that side's order would do: its liquidation price, margin, maximum size and fee.
• Spot pairs and outcome tokens keep one button. Choose Buy or Sell at the top of the form, then press the button, which names the order it sends.

By default a confirmation dialog opens before the order is sent. Tick Don't show this again in the dialog, or turn it off in Trade settings under Confirm before sending.

Before your account can trade, one button shows the next step instead, such as Link Hyperliquid, Turn on trading, or Reconnect for an exchange that refused its key.

Lighter: TP/SL on limit and market orders

On Lighter, TP/SL works with both a limit and a market entry. The take profit and stop loss are sent together with the entry, in one order:

• While a limit entry rests on the book, its take profit and stop loss wait with it and show on the entry's row in your open orders.
• Cancel the entry and they are cancelled with it.
• When the entry fills, they go live for the size that filled.
• Closing the position removes them.

The Account panel

At the foot of the trade panel, the Account panel sums up the account your orders go to. It appears once your account is connected. Hover any label for a one-sentence explanation:

Row	What it shows
Account value	Your deposits plus the profit or loss on open positions.
Available	Money free for new orders.
Margin used	Collateral your open positions hold.
Margin ratio	Maintenance margin as a share of account value. At 100% the venue liquidates.
Unrealized PnL	Profit or loss on open positions if you closed them now.
Funding today	Funding paid (−) or received (+) since 00:00 UTC.
Leverage	Open position value divided by account value.
Long / short	Total value of your long positions / your short positions.
Maintenance margin	The least collateral your positions need before liquidation starts.

• Unrealized PnL and Funding today turn green when positive and red when negative. Margin ratio and Leverage change colour only at risky levels: a margin ratio of 70% or more, or leverage above 10x.
• The arrow in the panel's header folds it down to its title. It stays folded on this device until you open it again.
• Positions & orders at the foot of the panel opens your positions and orders. Order book opens the DOM ladder, and shows while the Orderbook panel is on another view.

Trade settings

The cog in the ticket's header opens Trade settings. Choose where a confirmation opens before an order is sent (Confirm before sending), cap the value of one order (Max order value), set the Market slippage cap, edit the Size presets for the order book ladder and the quick trade pill, and choose what your order and position lines show on the chart.