Crypto spot markets
Crypto spot trading exchanges one asset for another on an order book without opening a perpetual-futures position. Fensory reaches 300+ Hyperliquid spot pairs through the terminal and compatible assistants. The spot balance remains in the Hyperliquid account until withdrawn, and spot is authorised separately from perpetual futures.
What to ask your assistant
Copy any of these into a connected assistant. Trading instructions remain subject to the kill-switch, access expiry, market allow-list and per-order cap set on the account.
Show me the UBTC spot market, its spread, whether spot is enabled and my per-order cap before I act.
Data firstBuy $200 of UBTC spot. Do not open the BTC perpetual future.
Exact instrumentCompare the UETH and ETH perpetual markets, including fees, funding and liquidation risk.
Compare instrumentsList my current spot balances and tell me which are wrapped assets.
PortfolioSell half my USOL spot balance with a limit order at the price I specify.
Limit orderOr ask for something else
These are examples, not a menu. Describe what you want in your own words; the same ceiling and market list apply.
Other markets
Spot and perpetual futures are different instruments
The same underlying asset can appear twice in the terminal. The market label determines what is held, where the balance sits and which risks apply.
| Crypto spot | Perpetual future | |
|---|---|---|
| Instrument | A token traded on a spot order book | A derivative with no expiry date |
| Balance | Hyperliquid spot account until withdrawn | Margin and position at the venue |
| Leverage | None | Available by market |
| Funding | None | Exchanged between long and short holders |
| Liquidation | No leveraged-position liquidation | Yes, if margin falls below the venue requirement |
| Authorization | Spot permission | Separate perpetual-futures permission |
Read the full symbol, not only the asset name
UBTC/USDC is the Hyperliquid spot pair corresponding to BTC/USDC. BTC-USD is a perpetual future. Both follow bitcoin, but one is a spot token held at the venue and the other is a derivative position. The same distinction applies to other assets that appear in both market types.
HIP-1 is Hyperliquid's native token standard for spot order books. A token can be native to Hyperliquid or bridged from another network, so the token issuer and withdrawal route remain part of the product risk.
What the account controls do here
The spot route uses the same four account controls as the rest of Fensory: a kill-switch, an access expiry, a market allow-list and a per-order cap. Spot and perpetual futures are enabled separately, so permission to buy a spot token does not authorize a leveraged position.
Deposits and withdrawals are user-signed actions. The assistant can work with the trading balance and permitted markets, but it cannot withdraw the asset from the venue.
The essentials
- Coverage
- 300+ Hyperliquid spot pairs
- Venue
- Hyperliquid spot order books
- What you hold
- The spot token named by the pair. Some assets are native HIP-1 tokens; others are bridged representations of assets from another network.
- Leverage
- None on a spot purchase. Leverage and liquidation belong to the separate perpetual-futures market.
- Hours
- Continuous. Crypto spot markets do not close for a daily or weekend session.
- Agent access
- Fully agentic after spot trading is enabled. Spot and perps are authorised separately.
Questions people ask
- What is spot trading in crypto?
- Spot trading exchanges one asset for another at the current order-book price. The resulting token appears in the venue spot balance. It is different from a perpetual future, which is a derivative position backed by margin.
- Is crypto spot the same as a crypto perpetual future?
- No. Spot gives you the token named by the pair and does not use leverage. A perpetual future tracks the price with margin, funding and liquidation risk. Fensory shows the instrument beside the symbol so the two are not mistaken for each other.
- Is UBTC the same thing as native bitcoin?
- No. Hyperliquid maps BTC/USDC to UBTC/USDC on HyperCore. Unit moves the corresponding BTC amount between the Bitcoin network and the Hyperliquid spot balance. UBTC is the spot token on Hyperliquid, not bitcoin held directly on Bitcoin and not the BTC perpetual future.
- Where does a Hyperliquid spot balance sit?
- It remains in the Hyperliquid account until it is withdrawn. Fensory provides the terminal and agent connection, while deposits and withdrawals remain user-signed actions.
- Can an AI agent trade crypto spot through Fensory?
- Yes, after spot trading is enabled for the account. The same account controls still apply: a kill-switch, an access expiry, a market allow-list and a per-order cap. Enabling spot does not enable perpetual futures.