Hyperliquid Account Modes and Unified Collateral Risk Monitoring
Summary
The document explains how Hyperliquid account abstraction modes determine whether spot and perpetual-futures balances share collateral. Unified accounts combine balances by asset across spot and eligible cross-margin positions. Portfolio margin pools eligible assets across a portfolio. Manual or standard mode keeps spot, perpetual, and DEX balances separate, with cross margin applied independently by DEX. A discontinued DEX abstraction mode is described for context, alongside notes on builder fees, daily user-action limits, and where API users can find balance state.
A provided function outlines one way to monitor unified-account liquidation risk. It groups maintenance margin and isolated margin by collateral token, subtracts isolated margin from the corresponding spot balance, and computes the largest cross-maintenance-margin-to-available-balance ratio. This is implementation guidance, not a full explanation of liquidation mechanics; the result depends on accurate state and token mappings. The page points readers to separate documentation for mode changes and portfolio-margin details.
Key ideas
- Unified accounts share each asset balance across spot and eligible cross-margin positions.
- Portfolio margin pools eligible assets, while standard mode keeps balances separate by market or DEX.
- Builder code addresses must use standard mode to accrue builder fees.
- The ratio function compares cross maintenance margin with spot collateral remaining after isolated margin.
- The document summarizes account behavior but defers detailed mode changes and portfolio-margin rules to other documentation.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.