Hyperliquid Launches Trailing Stop Feature for Perpetual Contracts

Tapbit news reported on September 21 that Hyperliquid announced the perpetual contract market now supports trailing stop orders. The trigger price of a trailing stop adjusts as the mark price moves, provided the price movement is favorable to the position's direction. When the mark price retraces by a set distance or percentage from its best level, the system triggers a market order. For long positions, the trigger price trails the highest mark price reached since activation; for short positions, it trails the lowest mark price. Users can optionally set an activation price to determine when trailing begins; if not set, trailing starts immediately at the current mark price.