Margin tiers

Like most centralized exchanges, the tiered leverage formula on Hyperliquid is as follows:

maintenance_margin = notional_position_value * maintenance_margin_rate - maintenance_deduction

On Hyperliquid, maintenance_margin_rate and maintenance_deduction depend only on the margin tiers, not the asset.

maintenance_margin_rate(tier = n) = (Initial Margin Rate at Maximum leverage at tier n) / 2 . For example, at 20x max leverage, maintenance_margin_rate = 2.5%.

Maintenance deduction is defined at each tier to account for the different maintenance margin rates used at previous tiers:

maintenance_deduction(tier = 0) = 0

maintenance_deduction(tier = n) = maintenance_deduction(tier = n - 1) + notional_position_lower_bound(tier = n) * (maintenance_margin_rate(tier = n) - maintenance_margin_rate(tier = n - 1)) for n > 0

In other words, maintenance deduction is defined so that new positions opened at each tier increase maintenance margin at maintenance_margin_rate , while having the total maintenance margin be a continuous function of position size.

Margin tables have unique IDs and the tiers can be found in the meta Info response. For IDs less than 50, there is a single tier with max leverage equal to the ID.

Mainnet Margin Tiers

Mainnet margin tiers are enabled for the assets below:

BTC

ETH

SOL

XRP

AAVE, ADA, APT, AVAX, BCH, CRV, DOGE, ENA, FARTCOIN, HYPE, kBONK, kPEPE, LINK, LTC, NEAR, PUMP, SUI, TRUMP, UNI, WLD, ZEC

ARB, BNB, DOT, JUP, kSHIB, MKR, ONDO, PAXG, TON, TRX, XPL

Testnet Margin Tiers

The tiers on testnet are lower than mainnet, for ease of testing.

ARB, ATOM, AVAX, FARTCOIN, ICP, TAO - testnet only

DOGE, TIA, SUI, kSHIB, AAVE, TON - testnet only

ETH - testnet only

BTC - testnet only