It is well-known that the behaviour of a random subgraph of a $d$-dimensional hypercube, where we include each edge independently with probability $p$, undergoes a phase transition when $p$ is around $\frac{1}{d}$. More precisely, standard arguments show that just below this value of $p$ all components of this graph have order $O(d)$ with probability tending to one as $d \to \infty$ (whp for short), whereas Ajtai, Komlós and Szemerédi [Largest random component of a $k$-cube, Combinatorica 2 (1982), no. 1, 1--7; MR0671140] showed that just above this value, in the supercritical regime, whp there is a unique `giant' component of order $Θ\left(2^d\right)$. We show that whp the vertex-expansion of the giant component is inverse polynomial in $d$. As a consequence we obtain polynomial in $d$ bounds on the diameter of the giant component and the mixing time of the lazy random walk on the giant component, answering questions of Bollobás, Kohayakawa and Łuczak [On the diameter and radius of random subgraphs of the cube, Random Structures and Algorithms 5 (1994), no. 5, 627--648; MR1300592] and of Pete [A note on percolation on $\mathbb{Z}^d$: isoperimetric profile via exponential cluster repulsion, Electron. Commun. Probab. 13 (2008), 377--392; MR2415145]. Furthermore, our results imply lower bounds on the circumference and Hadwiger number of a random subgraph of the hypercube in this regime of $p$ which are tight up to polynomial factors in $d$.