Shorting Bitcoin means opening a position that gains if the price falls and loses if it rises. On Bloxwap you pick BTC, set a size, and tap DOWN. Think it's headed up instead? Tap UP to go long. Tap CLOSE when you're done.
You don't own or borrow any Bitcoin. You trade a perpetual future ("perp"), a contract that tracks Bitcoin's price with no expiry date. Orders route to Hyperliquid; Bloxwap is the interface on your phone. New to perps? Read A beginner's guide to perpetual futures.
Step 1: Start in Demo
Open bloxwap.app in your phone's browser. Until you sign in, you trade in Demo with practice funds: no real money, no fees. Run the whole flow there, including a losing trade, before you switch to Live.
Step 2: Pick BTC
Open the market picker and choose BTC. The chart and controls switch to Bitcoin. A tour of the trading screen shows where everything lives.
Step 3: Set your size and leverage
Tap the size and leverage readout on the chart. Size is your margin, the USDC you put behind the trade. Pick a preset ($10 up to $1,000), enter a custom amount, or tap Max to use your available balance.
Leverage sets the position value: 50 USDC at 5x controls a $250 position. It magnifies gains and losses equally. The sheet also shows the position value, an estimated round-trip fee, and an estimated liquidation distance. Keep leverage low while you learn.
Step 4: Tap DOWN to short, or UP to go long
Tap DOWN to open a short, or UP to open a long, which gains if the price rises. Your live profit and loss (P&L) appears once the order fills. You can also add a stop-loss, an order that closes the position at a price you choose (here's how).
Step 5: Exit with CLOSE, or protect a gain with LOCK
With a short open, DOWN becomes CLOSE. Tap it to exit and realize the result.
The other button becomes LOCK, which works only while the trade is in profit after estimated fees. It sets a trailing stop based on recent price swings: for a short, the stop starts at or below your break-even price and moves down as Bitcoin falls, so a bounce closes the trade with part of the gain. It's a stop order, so a fast market can fill it at a worse price.
A worked example: 50 USDC short at 5x
Bitcoin is at $100,000. You short with 50 USDC at 5x, a $250 position. Fees are 9.5 bps (0.095%) per fill on the full position value, on open and again on close (fee guide).
| Bitcoin falls 4% | Bitcoin rises 4% | |
|---|---|---|
| Exit price | $96,000 | $104,000 |
| Position value at close | $240 | $260 |
| Gross P&L | +$10.00 | −$10.00 |
| Fees (open + close) | $0.47 | $0.48 |
| Net P&L, before funding | +$9.53 | −$10.48 |
| Left of your 50 USDC | $59.53 | $39.52 |
Opening costs 0.095% × $250 = $0.2375. Closing the win costs 0.095% × $240 = $0.228 ($0.4655 total). Closing the loss costs 0.095% × $260 = $0.247 ($0.4845 total). A 4% price move changed your margin by about 20% either way. That's 5x leverage at work. Going long swaps the columns: the rise is the win.
Funding is a payment between longs and shorts that Hyperliquid settles hourly. When the rate is positive, longs pay shorts; when it's negative, shorts pay. At Hyperliquid's baseline of 0.00125% per hour, this $250 short would receive about $0.003 an hour, roughly 8 cents a day. Rates change and can turn against you. Bloxwap keeps none of it.
How a short gets liquidated
A short loses as the price rises, and Bitcoin's price has no ceiling. Liquidation is Hyperliquid closing your position because its margin can no longer support it.
In the example, a 20% rise (to $120,000) would cost the whole 50 USDC. Liquidation comes sooner, because the exchange requires maintenance margin and fees and funding eat into the cushion. At 10x, a rise of under 10% could do it. With cross margin, other collateral in your account can absorb losses too. See the glossary and how payouts, funding, and liquidation work.
Frequently asked questions
Can you short Bitcoin on your phone?
Yes. On Bloxwap you pick BTC, set a size, and tap DOWN, right in your phone's browser. Try it in Demo first with practice funds.
Do I need to own Bitcoin to short it?
No. A Bitcoin perp tracks the price without anyone lending you coins. Your margin is USDC.
Is shorting riskier than going long?
The mechanics match; only the direction flips. But a price can rise without limit, so nothing caps a short's loss except a stop-loss or liquidation. Leverage magnifies gains and losses either way.
Live trading involves real risk. You can lose money, especially with leverage. Only trade what you can afford to lose. You must be 18 or the age of majority where you live, and restricted jurisdictions include the United States; see the Terms of Use.