Skip to main content

Start Trading

What do I need to trade on Silhouette's Open Beta?​

You can trade on Silhouette with a normal DeFi wallet or by logging in with your email address.

If you choose to use a normal DeFi wallet, you need:

  1. An EVM wallet
    • If you don’t already have an EVM wallet (e.g., Rabby, MetaMask, WalletConnect, Coinbase Wallet), you can set one up easily at https://rabby.io/.
    • After downloading a wallet extension for your browser, create a new wallet.
    • Your wallet has a secret recovery phrase – anyone with access to your password or seed phrase can access your funds. Do not share your private key with anyone. Best practice is to record your seed phrase and store it in a safe physical location.
  2. Collateral
    • USDC and ETH (gas to deposit) on Arbitrum, or
    • Any one of the assets supported by Unit OR Bitfrost

How do I onboard to Silhouette?​

  1. Connect your wallet to app.silhouette.exchange.
  2. Sign the prompted messages with your EVM wallet.
  3. Switch to Shielded mode in the Silhouette app.
  4. Deposit USDC or HYPE into Silhouette.
  5. Trade the HYPE/USDC spot market in Shielded mode.

How do I trade spot on Silhouette?​

Spot markets are available in Open Beta in both Naked and Shielded modes. Find out more about Naked vs Shielded trades here.

With spot trading, you exchange tokens directly rather than using collateral and leverage as you would with perpetuals.

  1. By default, USDC transferred into Silhouette goes to your perps account. Use the "To Spot" button on the Account Dashboard to move funds.
    1. If you already have a balance in Spot, you can transfer your Hypercore spot balance to Silhouette to execute shielded trades.
  2. Select a market using the token selector to choose the spot pair you want to trade.
  3. Decide whether to buy or sell. Buy to increase your exposure to the token. Sell to take profit or close your position.
  4. Use the slider or type in the token size you want to buy or sell.
  5. Click Place Order, then Confirm in the modal that appears. Tick "Don't show this again" to skip confirmation on future orders.

How do I trade perpetuals on Silhouette?​

Perpetual markets are live on Silhouette Open Beta in "Naked" mode only. This means trades are visible onchain and route to Hyperliquid via builder codes, without any shielded functionality.

With perpetual contracts, you use USDC as collateral to long or short a token instead of buying it directly, as you would in spot trading.

  1. Verify that you have USDC in your perps account by checking the "Balances" tab at the bottom of the app on the Account Dashboard.
  2. Use the token selector to choose the perps pair you want to trade.
  3. Decide whether to long or short. If you expect the token price to rise, go long. If you expect it to fall, go short.
  4. Use the slider or type in your position size. Position size = leverage amount × collateral.
  5. Click Place Order, then Confirm in the modal that appears. You can tick "Don't show this again" to skip confirmation on future orders.