Is Hyperliquid Available in the US

Hyperliquid is not available in the US. The official interface at app.hyperliquid.xyz names US residents as "Restricted Persons" and prohibits them from accessing it. That restriction sits in the Terms of Use, not just a geo-block, and it comes with consequences most guides never mention — including the right to cancel your rewards retroactively.

What the Terms of Use actually say

Most articles on this question paraphrase a support page. Here is the operative clause, quoted directly:

1.6 The Interface is not available to "Restricted Persons." For the purposes of these Terms, Restricted Persons include: (a) persons or entities who reside in, are located in, are incorporated in, or have a registered office in the United States of America or Ontario, Canada; (b) persons or entities who reside in, are located in, are incorporated in, or have a registered office in jurisdictions subject to applicable economic and trade sanctions or export control laws and regulations […]; and (c) citizens of Restricted Territories, regardless of their location.

Three things in that clause catch people out.

It is not only about residency. Being located in the US triggers it too. A non-US resident travelling through the country is a Restricted Person for the duration of that trip.

Ontario is named separately. Canada as a whole is not restricted — Ontario specifically is, a consequence of the Ontario Securities Commission's stance on crypto derivatives platforms.

Citizenship of a sanctioned territory travels with you. Clause (c) applies "regardless of their location," so it does not matter where you have moved to.

Interface versus protocol: the distinction that confuses everyone

The reason you will see people insist "Hyperliquid works fine in the US" is that they are talking about a different thing than the Terms are.

1. 01

   Hyperliquid, the chain

   A permissionless L1 run by a decentralised validator set. Section 1.1 states the Company 'does not own, control, or operate' it and cannot modify its availability.

2. 02

   The Interface

   The website at app.hyperliquid.xyz, operated by Hyperliquid Corp. This is what the Terms govern, and this is what US persons are barred from.

3. 03

   The gap people exploit

   Section 1.1 also says 'The Interface is not the exclusive means of accessing Hyperliquid.' Third-party front-ends and the API exist.

4. 04

   Why the gap is not a loophole

   Section 1.9 requires you to warrant your activity is lawful in your jurisdiction, and Section 3.1.5 bans evasion outright. Using a different door does not change your legal position.

The US restriction is not a technical opinion about which IP addresses can load a website. It is a contractual and regulatory position. Perpetual futures are leveraged derivatives; offering them to US retail customers generally requires CFTC registration, and Section 1.3 of the Terms states plainly that neither the Interface nor Hyperliquid is "licensed, approved, authorized, endorsed, or registered by any governmental authority or regulatory body in any jurisdiction."

The clause points farmers need to read: retroactive forfeiture

This is the part that does not appear in any of the ranking guides we reviewed, and it is the one with real money attached.

5.4 You acknowledge and agree that any benefits earned under a Program: (a) have no cash value unless explicitly stated otherwise; (b) may be subject to additional conditions for redemption; (c) are not guaranteed and may be canceled or forfeited at the Company's sole discretion; and (d) are subject to applicable laws and regulations, which may restrict or prohibit participation in certain jurisdictions. The Company reserves the right to modify or cancel any benefits if compliance with applicable laws requires such actions, and, at its sole discretion, to evaluate compliance retroactively and take such remedial actions as it deems necessary.

Read that last clause slowly. Points and Program rewards earned while non-compliant can be reviewed after the fact and cancelled. Section 6.1 then adds that the company's eligibility determinations are "final and binding and not subject to challenge or appeal."

We model points programs as an expected-value calculation: probability of distribution × expected allocation × probability you keep it. That third term is the one people set to 1.0 and forget.

For a US-based farmer on Hyperliquid, Section 5.4(d) plus Section 6.1 means the retention probability is explicitly not 1.0, is set by someone else's discretion, and has no appeal path. Whatever you think an allocation is worth, that is the number you have to discount — and you are discounting it after you have already paid the fees and carried the liquidation risk to earn it.

There is no version of that trade we would put capital behind. It is the clearest case we have seen of a program where the headline reward and the enforceable reward are different numbers.

What the restriction means in practice

Perp venues that do serve US customers

If you are in the US and want leveraged crypto exposure, the workable answer is a venue that is registered to serve you rather than one you have to misrepresent yourself to reach.

• CFTC-regulated futures venues. Coinbase and Kraken both offer US-eligible derivatives products through regulated subsidiaries. Contract specs, leverage caps, and fee schedules differ substantially from an offshore perp DEX — we break down one of them in coinbase perpetual futures fees.
• Spot plus a hedge. Delta-neutral structures built from spot positions and regulated futures reproduce a lot of what people use perps for, without the jurisdictional problem.
• Nothing at all. For most points farmers, the honest answer is that the Hyperliquid points opportunity is not addressable from the US on terms you can enforce. Skipping a program is a legitimate outcome.

Whatever you pick, the underlying cost structure still decides your returns. Hyperliquid fees walks through how a maker/taker schedule and funding rate actually compound against a position, and the same arithmetic applies wherever you trade.

If you are outside the US

Assuming you are not a Restricted Person, the rest of the platform is worth understanding on its own terms:

• Hyperliquid vaults covers HLP, the 4-day lockup, and the 10% profit share on legacy vaults.
• Hyperliquid fees covers the 14-day volume tiers and the staking discount ladder.
• Perp dex points covers how volume-based points programs across perp DEXs are actually scored.
• Hyperliquid airdrop date covers the distribution history.

Before committing capital anywhere, our crypto due diligence checklist covers reading terms like these for the clauses that decide whether a reward is real.

FAQ

›Is Hyperliquid available in the US?

No. Section 1.6 of the Hyperliquid Terms of Use classifies anyone residing, located, or incorporated in the United States as a Restricted Person and states that Restricted Persons are strictly prohibited from accessing or using the Interface at app.hyperliquid.xyz.

›Is Hyperliquid banned in all of Canada?

No, only Ontario. Section 1.6(a) names 'the United States of America or Ontario, Canada' specifically. Other Canadian provinces are not listed in that clause.

›Can US users access Hyperliquid through the API or a third-party front-end?

Section 1.1 acknowledges the Interface is not the exclusive means of accessing Hyperliquid, since the chain is permissionless. But Section 1.9 requires you to warrant your activity is lawful in your jurisdiction and that you are not disguising your location, so a different access route does not resolve the underlying restriction.

›What happens if a US user farms points on Hyperliquid?

Section 5.4(d) lets the company evaluate compliance retroactively and cancel or forfeit Program benefits, and Section 6.1 makes its eligibility determinations final and not subject to appeal. Rewards earned while non-compliant can be removed after the fact.

›Why is Hyperliquid restricted in the US at all?

Perpetual futures are leveraged derivatives, and offering them to US retail customers generally requires registration with the CFTC. Section 1.3 of the Terms states that neither the Interface nor Hyperliquid is licensed, approved, or registered by any regulator in any jurisdiction.

›Does using a VPN make it allowed?

No. Section 3.1.5 explicitly prohibits using VPNs, proxies, or other methods to conceal your location, and Section 1.9 requires you to warrant that you are not doing so. It is a direct breach of the Terms, exposing you to termination under 6.2 and forfeiture under 5.4(d).

›If something goes wrong, where would a US user sue?

Nowhere in the US. Section 11.4 sets England and Wales as governing law, requires LCIA arbitration in London, and states that neither party may bring a dispute in any court located in the United States. Section 10.3 caps total liability at $100.

Sources

• Hyperliquid Terms of Use (last updated 15 June 2026)
• Hyperliquid documentation
• CFTC: retail commodity transactions and registration
• Ontario Securities Commission: crypto asset trading platforms