Hyperliquid said on X that its perpetual futures market has added a trailing stop-loss feature. According to Odaily, the trigger price moves with the mark price in a direction favorable to the position, and a market order is triggered when the mark price pulls back from its best level by a set number of points or percentage.

For long positions, the trigger price follows the highest mark price reached after the feature is enabled, while for short positions it follows the lowest mark price reached after activation. Users can set an optional activation price to determine when trailing begins; if no activation price is set, trailing starts immediately from the current mark price.