Hyperliquid Tiered Margin Rates and Maintenance Deductions

Summary

The document explains how Hyperliquid calculates maintenance margin for positions across leverage tiers. Maintenance margin is based on notional position value multiplied by a tier-specific rate, less a deduction. The rate is half the initial margin rate associated with the maximum leverage in that tier. A recursively calculated deduction accounts for rate changes across earlier tiers, making total maintenance margin continuous as position size crosses a tier boundary.

The page lists separate mainnet and testnet tier bounds and maximum leverage for groups of assets. It notes that tier parameters depend on the tier rather than the asset, and that margin table identifiers and tier data are available through the exchange’s metadata response. The testnet thresholds are lower for easier testing. These rules describe the venue’s published margin schedule; they do not quantify liquidation outcomes, fees, or risk under changing prices, and the listed tiers may change over time.

Key ideas

• Maintenance margin equals notional value times the tier rate, minus a tier-specific deduction.
• The maintenance rate is half the initial margin rate implied by the tier’s maximum leverage.
• The deduction incorporates rate changes from earlier tiers so total maintenance margin remains continuous across boundaries.
• Mainnet and testnet use different asset-specific tier bounds and leverage limits.
• The published schedule describes margin calculations but does not cover all trading or liquidation risks.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.