Your First Steps on Entropy

What You're Signing Up For

Entropy is a perpetual-futures frontend built on top of Hyperliquid, not a broker and not a company you hold shares in. It runs under Hyperliquid's HIP-3 framework as a builder-deployed venue, which we cover in full in what Entropy actually is. Its own two markets are io:ANTH, a pre-IPO perpetual on Anthropic, and io:SNDK, an equity perpetual on SanDisk. The same frontend also aggregates hundreds of markets deployed by other HIP-3 builders, including trade.xyz, so not everything visible in the app is Entropy's own listing.

Signing In: Email or Wallet, via Privy

Entropy uses Privy to handle login, and it accepts two paths. Signing in with an email address automatically creates a Privy embedded wallet behind the scenes, so you do not need to already hold crypto or have a browser extension installed. Signing in with an existing wallet instead works with MetaMask, OKX, Coinbase Wallet, Rainbow, Phantom, Zerion, Uniswap Wallet, or WalletConnect. Either path creates a trading account; there is no separate password to set and no document upload at this step.

Depositing USDC

Entropy trades on USDC collateral bridged from Arbitrum One. The app offers a few routes in: the direct Hyperliquid bridge (bridge2), a Circle CCTP route, Privy's own cross-chain funding, or a fiat on-ramp that takes a card or bank transfer and lands USDC on Arbitrum for you. None of these routes require identity verification on Entropy's side. Expect roughly $0.01 in ETH gas to bridge, plus a one-time $1 Hyperliquid account activation fee charged on your first outbound action, not on the deposit itself. Our USDC deposit walkthrough covers each route step by step, including what to do if funds are slow to arrive.

The Two Approvals Before You Can Trade

Before your first order goes through, Entropy asks for two signatures. The first is an agent-wallet approval, an EIP-712 "ApproveAgent" signature that creates a browser-local trading key valid for roughly 179 days. That key can place and cancel orders on your behalf but cannot withdraw funds; a withdrawal always needs a separate signature from your master wallet. The second is a builder-fee approval, a required signature that authorizes a maximum fee rate of 1%, even though the rate currently configured and charged is 0%. Both are standard steps in the onboarding flow rather than optional extras, and our fees breakdown covers what each approval actually authorizes.

No KYC, But Read the Restricted List

Entropy does not ask for a name, date of birth, or identity document anywhere in onboarding. It does run an IP-based geo-check: visiting from a restricted location still lets you browse the site, but the app returns a blocked state on trading actions specifically. Entropy's terms of service list the United States, Canada, Panama, and the United Kingdom as restricted jurisdictions, alongside OFAC-sanctioned persons and locations. This is a statement of what the terms say and what the app does, not legal advice about whether any of it applies to you; read the terms yourself and see our breakdown of the restricted-country list for the exact wording and what the geo-check returns.

Where to Go Next

Once you are signed in and funded, how to trade on Entropy walks through placing an actual order on io:ANTH or io:SNDK. If a deposit seems to be taking longer than expected, check what to do when a deposit hasn't arrived before assuming something went wrong. For the fee mechanics in detail, from the published rate down to what Growth Mode actually charges, see the fees hub, and for a wider view of how Entropy compares to the venue it aggregates markets from, see the trading guides hub.