Margin & leverage
Leverage
Set leverage per market, from 1× up to that market’s maximum. It persists between sessions.
Margin modes
Choose the mode per market in the order panel:
- Cross margin: all your positions share your account’s collateral. A loss draws on your whole account.
- Isolated margin: collateral is assigned to one position, and its risk is capped at that margin.
Margin tiers
As a position’s notional grows, its maximum leverage steps down. The trading desk reflects the tier for your position size.
Liquidation
If your margin falls below the maintenance requirement, the position is liquidated. Your liquidation price is shown live on every position and drawn on the chart. Before you place an order, the ticket estimates the liquidation price it would leave you with (in cross, on your whole cross account, the way Hyperliquid computes it).
Manage your risk. Lower your leverage, use isolated margin, add collateral, or set a stop-loss. A dead-man switch pulls your resting orders if you step away, but it cancels your stop-loss too, so it does not protect a position.
Account modes & collateral
How collateral is shared between perps and spot depends on your account mode (in Settings):
- Classic: perp and spot balances are separate. Liquary can auto-transfer USDC between them when needed (e.g. for a spot buy).
- Unified: your spot USDC counts toward perp margin.
- Portfolio margin: an advanced risk model, which Hyperliquid offers in pre-alpha to accounts worth less than $500,000.
Withdrawing a token other than USDC requires Classic mode, and Hyperliquid only allows the switch back with no open positions, orders or TWAPs. Liquary tells you when a mode change is needed and walks you through it.