Hyperliquid Liquidation Calculator
Liquidation price for BTC-USD on Hyperliquid, using Hyperliquid's own margin tiers.
Every exchange liquidates on the same principle and none of them arrive at the same number. This page uses Hyperliquid's published maintenance margin ladder for BTC-USD, so the answer matches what Hyperliquid itself would show rather than a generic approximation.
Hyperliquid maintenance margin for BTC-USD
A BTC-USD position up to 150M carries a maintenance margin rate of 1.25 % on Hyperliquid and can be held at up to 40×. The rate steps up with position size, and liquidation is triggered where the position's margin falls to that requirement — measured against the mark price, not the last trade. Tiers checked on 2026-08-07.
Run it on your own position ↓Hyperliquid maintenance margin tiers
For BTC-USD, as published on 2026-08-07. Other symbols have their own ladders — check yours before sizing.
| Tier | Position value | Maintenance margin rate (%) | Max leverage |
|---|---|---|---|
| 1 | 0 – 150M | 1.25 % | 40× |
| 2 | 150M+ | 2.50 % | 20× |
How it works
Hyperliquid closes a position when its margin falls to the maintenance requirement, measured against the mark price rather than the last trade. The requirement is a percentage of the position's value at that moment — which is why the maintenance rate divides rather than adds, and why the widely copied 'entry × (1 − 1/leverage + rate)' is close but never exact.
Hyperliquid charges the closing fee against what is left after liquidation rather than folding it into the requirement, so it does not move the liquidation price itself. It still reduces what you get back.
Sources — Hyperliquid documentation
Every rate and formula on this page is taken from Hyperliquid's own documentation for BTC-USD and was last checked on 2026-08-07. Exchanges revise these tables without notice.
- Liquidations and the maintenance margin trigger
- Margining: maintenance is half the initial margin at max leverage
- Margin tiers and the maintenance deduction
- API: perpetuals metadata, including the margin tables
Independent tool, not affiliated with or endorsed by Hyperliquid. Confirm against your position's own margin details before trading.
Where the exchanges differ
The same 0.5 BTC position at 10× on a 60,000 entry, priced under each venue's published rules.
| Exchange | Liquidation | Distance | Exit fee in margin |
|---|---|---|---|
| Binance | 54216.87 | 9.64 % | not counted |
| Bybit | 54271.36 | 9.55 % | not counted |
| OKX | 54244.10 | 9.59 % | counted |
| Gate.io | 54203.26 | 9.66 % | counted |
| Hyperliquid | 54683.54 | 8.86 % | not counted |
The same calculation on other exchanges
Margin ladders differ enough to move the liquidation price on identical inputs.
Liquidation price on Hyperliquid
Hyperliquid liquidates a perpetual when account equity falls below the maintenance margin, triggered on a mark price that is the median of three independent estimates rather than its own order book. What separates it from every other venue here is where the maintenance rate comes from: Hyperliquid publishes no table of rates at all.
The rate is derived from leverage, not published as a ladder
Hyperliquid documents one rule — maintenance margin is half the initial margin at the tier's maximum leverage — and lets the numbers follow. BTC caps at 40×, so the initial margin rate is 2.5% and the maintenance rate is 1.25%. Above 150 million USD of notional the cap drops to 20×, and the maintenance rate doubles to 2.5% with it. Across the whole asset list the rule produces rates from 1.25% to 16.7%, because the venue lists assets capped as low as 3×.
That makes the ladder two rungs deep where Binance runs twelve and OKX ninety-nine, and it makes the base rate roughly three times higher than a ladder venue's. At 10× on BTC the difference is visible but modest: about 8.9% of room to liquidation here against about 9.6% on Binance, because the maintenance rate is charged on the position's value at the trigger either way.
The tier step is smoothed the same way Binance smooths its brackets — with a deduction chosen so the total requirement stays a continuous function of size. Growing a position through 150 million USD therefore raises the requirement gradually rather than repricing the whole position at the higher rate.
Two liquidation paths, and only one of them returns your margin
The first path is ordinary: a market order for the position is sent to the book, and if it fills, whatever collateral survives stays with you. Positions above 100,000 USDC are worked in pieces — 20% of the position at a time, with a 30-second cooldown after which the next order is for the whole remainder.
The second path is the one to avoid. If equity falls below two thirds of the maintenance margin without the book having absorbed the position, the liquidator vault takes it over, and the maintenance margin is not returned. That is a real, quantified penalty for being liquidated in thin conditions rather than a vague warning, and it is why the distance in the calculator should be read as the point where the outcome stops being yours to influence.
Isolated and cross decide what gets taken with it
This calculator models isolated margin, where the position carries its own collateral. In a backstop liquidation of an isolated position, only that position and its margin transfer to the vault; the rest of the account is untouched.
In cross margin the entire account backs every position, and a backstop liquidation takes all cross positions and the cross collateral together. Read the figure here as a floor on the risk of a cross position, not as its liquidation price — a loss on an unrelated market moves the level without you touching the trade.
Mark price, oracle price, and why a local wick does not reach you
The oracle price is a weighted median of prices on centralised venues, republished by validators roughly every three seconds, and it drives funding. The mark price used for liquidation is the median of three inputs: that oracle adjusted by an EMA of Hyperliquid's own basis, Hyperliquid's own bid/ask/last, and mid prices from major exchanges.
A median of three sources cannot be moved by one of them, which is the point. A spike on Hyperliquid's book alone does not liquidate you, and the level printed on the chart is not the level the engine is reading — the same reason your position can survive a candle that appears to pass straight through the price this page calculates.
FAQ
What is the maintenance margin on Hyperliquid?
Half the initial margin at the asset's maximum leverage. On BTC that is 1.25% up to 150 million USD of notional and 2.5% above it. On assets capped at 3× the same rule gives 16.7%, which is why the number cannot be quoted once for the whole venue.
Why is my liquidation closer than on Binance at the same leverage?
Because the maintenance rate is higher. Binance charges 0.4% at the base bracket, Hyperliquid 1.25% on BTC, and that rate sits in the denominator of the same equation. At 10× it costs roughly seven tenths of a percentage point of room; at 25× the gap widens.
What is the liquidator vault?
The protocol-owned account that takes over positions the book could not absorb, funded by the community liquidity pool. It is the counterparty of last resort, and the reason a backstop liquidation forfeits the maintenance margin rather than socialising the loss across other traders.
Does a liquidation on Hyperliquid cost gas?
No. Trading happens on the venue's own chain without a per-order gas charge, so the costs that matter are the trading fee and, in a backstop liquidation, the forfeited maintenance margin. The break-even calculator covers the first of those.
Is the calculated price where I actually get closed?
No — it is where the engine starts trying. Large positions are worked in 20% slices, and the fills come from the book at whatever it offers. Treat the number as a trigger level and keep a stop well inside it.