Leverage & Margin
Control how much exposure you get per dollar of margin, and choose how your collateral is shared across positions.
Overview
Leverage lets you trade larger positions with less capital. Margin is the collateral you put up to back those positions. Together, they determine your position size, liquidation price, and overall risk.
On Hyperliquid, you can use up to 50x leverage and choose between cross margin (shared collateral) or isolated margin (per-position collateral).
What you can do:
Set leverage for any asset from 1x to 50x
Switch between cross and isolated margin mode per asset
View your current leverage and margin settings
Understand how leverage affects liquidation and risk
Setting Leverage
You can set or change leverage for any asset at any time. This applies to new orders on that asset going forward.
"Set BTC leverage to 10x"
10x leverage on all new BTC orders
"Change ETH leverage to 5x"
Updates ETH to 5x
"Set SOL to 20x leverage"
20x on SOL
"Max leverage on BTC"
Sets to maximum available (up to 50x depending on asset)
"Lower my ETH leverage to 2x"
Reduces ETH leverage to 2x
"What's my current BTC leverage?"
Shows current leverage setting for BTC
Note: Changing leverage on an asset with an open position will adjust your margin requirements. If you increase leverage, margin is freed up. If you decrease it, more margin is required.
How Leverage Works
Leverage multiplies your exposure. The trade-off is always the same: more exposure per dollar, but closer to liquidation.
1x
$10,000
~100% move against you
2x
$5,000
~50% move
5x
$2,000
~20% move
10x
$1,000
~10% move
20x
$500
~5% move
50x
$200
~2% move
Example: You want a $5,000 long on ETH.
1x
$5,000
-$250 (-5%)
-$500 (-10%)
5x
$1,000
-$250 (-25%)
-$500 (-50%)
10x
$500
-$250 (-50%)
-$500 (-100% = liquidated)
20x
$250
-$250 (-100% = liquidated)
liquidated
The dollar loss is the same regardless of leverage. What changes is the percentage loss on your margin, which is what determines liquidation.
Margin Modes
Hyperliquid supports two margin modes. You can set each asset to a different mode.
Cross Margin (Default)
All positions share your entire account balance as collateral. If one position is losing, your other positions and free balance help absorb the loss.
Pros:
Lower liquidation risk since your whole balance backs every position
Winning positions offset losing ones
More capital-efficient for multiple positions
Cons:
A single catastrophic loss can affect your entire account
Harder to isolate risk on speculative trades
"Set BTC to cross margin"
BTC positions share account-wide collateral
"Use cross margin on ETH at 10x"
Cross margin with 10x leverage
"Switch SOL back to cross"
Changes SOL from isolated to cross
Isolated Margin
Each position gets its own separate collateral. If the position is liquidated, only the assigned margin is lost. The rest of your account is untouched.
Pros:
Maximum loss is limited to the margin assigned to that position
Great for high-risk or speculative trades
Protects your other positions and balance
Cons:
Each position only has its assigned margin as a buffer
Closer to liquidation compared to cross margin
Can't benefit from gains on other positions
"Set ETH to isolated margin"
ETH position gets its own collateral
"Isolate my SOL position at 5x"
Isolated margin with 5x leverage
"Use isolated margin on DOGE at 10x"
High-risk trade with capped downside
Cross vs Isolated Comparison
Collateral
Shared across all positions
Separate per position
Liquidation risk
Lower (whole balance as buffer)
Higher (only assigned margin)
Max loss
Entire account (worst case)
Only the assigned margin
Best for
Most trading, multiple positions
Speculative or high-risk trades
Capital efficiency
Higher
Lower
Viewing Margin Status
Check your current margin usage, free balance, and leverage settings at any time.
"Show my margin usage"
Free margin, used margin, total equity
"How much free margin do I have?"
Available margin for new positions
"What leverage am I using on BTC?"
Current leverage setting for BTC
"Am I close to liquidation on ETH?"
Shows ETH position with liquidation price
"Show my account overview"
Full account snapshot with all margin details
Key Margin Terms
Equity
Total account value (balance + unrealized PnL)
Used Margin
Collateral currently backing open positions
Free Margin
Equity minus used margin, available for new trades
Margin Ratio
Used margin / equity. Higher = closer to liquidation
Liquidation Price
The price at which your position gets force-closed
Maintenance Margin
Minimum margin required to keep a position open
Liquidation
Liquidation happens when your losses eat through your margin to the maintenance margin level. Hyperliquid will force-close your position to prevent negative balance.
How to Avoid Liquidation
Use lower leverage - Gives your position more room to breathe
Set stop-losses - Exit before liquidation price is reached
Monitor margin ratio - If it's climbing, consider reducing position size
Add margin - Deposit more funds to increase your buffer
Use isolated margin for risky trades - Caps your loss to the assigned margin
Common Setups
Conservative (Beginners)
Moderate (Experienced)
Aggressive (Advanced)
Tip: Regardless of experience level, always try to use SLs. Higher leverage demands tighter stops.
Pro Tips
Start with low leverage - 2-5x gives you room to learn without getting liquidated on small moves
Use isolated margin for degen plays - If you want to ape into a volatile altcoin, isolate it so a liquidation doesn't touch your other positions
Cross margin is better for hedging - If you're long BTC and short ETH, cross margin lets them offset
Watch your free margin - If it drops near zero, you're one bad wick from liquidation
Reduce leverage, don't just add margin - Lowering leverage is often better than throwing more money at a losing position
Higher leverage = tighter stops required - At 20x, a 5% move wipes your margin. Plan accordingly
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