> ## Documentation Index
> Fetch the complete documentation index at: https://docs.getelyra.xyz/llms.txt
> Use this file to discover all available pages before exploring further.

# Trade perpetuals on HyperLiquid and Elyra Perps with Elyra

> Elyra manages the full perpetuals lifecycle — open, monitor, and close — with automatic sub-account provisioning on HyperLiquid and Elyra Perps.

Elyra gives you access to the full perpetuals trading lifecycle through a single conversational interface. You do not need to configure sub-accounts, transfer margin manually, or navigate separate venue dashboards. Describe the position you want, and Elyra handles every step from provisioning to execution.

## Supported venues

<CardGroup cols={2}>
  <Card title="HyperLiquid" icon="bolt">
    229 markets · Up to 50x leverage · Market, limit, and conditional orders with TP/SL
  </Card>

  <Card title="Elyra Perps" icon="chart-candlestick">
    20 markets · Up to 150x leverage · High-leverage positioning for experienced traders
  </Card>
</CardGroup>

## Auto-provisioned sub-accounts

On your first perpetuals order, Elyra automatically provisions the required sub-account on your chosen venue and handles the fund transfer to margin. You do not need to do this manually, navigate venue settings, or manage sub-account keys separately.

<Note>
  Sub-account provisioning happens once per venue. All subsequent orders on that venue use the existing sub-account automatically.
</Note>

## Full lifecycle example

The following exchange shows the complete flow from opening a position to checking it and closing it out:

```text theme={null}
"Open 10x long SOL, 1 SOL notional"
→ SOLUSDT BUY MARKET 1 @ 10x · Entry $80 · Margin required $8

"Show my positions"
→ SOLUSDT LONG · 1 SOL · Entry $80 · Mark $82.25 · PnL +$22.50

"Close SOL"
→ SELL MARKET 1 SOLUSDT · Exit $82.25 · Realized PnL +$22.50
```

## Order types

<CardGroup cols={2}>
  <Card title="Market" icon="zap">
    Immediate execution at the current best price
  </Card>

  <Card title="Limit" icon="sliders">
    Execute only at a specified price or better
  </Card>

  <Card title="Conditional" icon="code-branch">
    Trigger an order when a price level is reached
  </Card>

  <Card title="TP/SL attached" icon="shield-check">
    Attach take-profit and stop-loss to any opening order
  </Card>
</CardGroup>

## Risk controls

Elyra enforces several risk controls on all perpetuals activity. These operate at the system level and cannot be disabled.

<Steps>
  <Step title="5% maximum exposure cap">
    No single position can exceed 5% of your total portfolio value. This ceiling is enforced programmatically at the time of order submission and cannot be overridden by any confidence score or agent output.
  </Step>

  <Step title="24/7 TP/SL monitoring">
    The AUTO module monitors your open positions continuously. Take-profit and stop-loss orders are tracked and executed without requiring you to remain active in the interface.
  </Step>

  <Step title="Fat-finger and stale-price protection">
    Elyra rejects orders that would execute at prices significantly outside the current market, and guards against stale oracle prices before submitting any leveraged position. These checks are always active.
  </Step>
</Steps>

<Warning>
  Perpetuals trading involves leverage and can result in the loss of your entire margin. Always set stop-loss orders and trade within your defined risk parameters. The 5% exposure cap is a system floor — it does not substitute for your own position sizing discipline.
</Warning>

## Natural language examples

```text theme={null}
"Open 5x short BTC, 0.5 BTC notional on HyperLiquid"
"Set a stop-loss on my SOL long at $75"
"What are my open positions and unrealized PnL?"
"Close half my ETH short"
"Show me the funding rate on SOL-PERP"
```

<Tip>
  You can specify leverage, notional size, and venue in a single message. If you omit the venue, Elyra selects the one with the best available liquidity for that market.
</Tip>