# Clearinghouse The perps clearinghouse is a component of the execution state on HyperCore. It manages the perps margin state for each address, which includes balance and positions. Deposits are first credited to an address's cross margin balance. Positions by default are also opened in cross margin mode. Isolated margin is also supported, which allows users to allocate margin towards a specific position, disassociating the liquidation risk of that position with all other positions. The spot clearinghouse analogously manages spot user state for each address, including token balances and holds. --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://hyperliquid.gitbook.io/hyperliquid-docs/hypercore/clearinghouse.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.