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

Notional Position Value (USDC)	Max Leverage
0-150M	40
>150M	20

ETH

Notional Position Value (USDC)	Max Leverage
0-100M	25
>100M	15

SOL

Notional Position Value (USDC)	Max Leverage
0-70M	20
>70M	10

XRP

Notional Position Value (USDC)	Max Leverage
0-40M	20
>40M	10

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

Notional Position Value (USDC)	Max Leverage
0-20M	10
>20M	5

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

Notional Position Value (USDC)	Max Leverage
0-3M	10
>3M	5

Testnet Margin Tiers

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

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

Notional Position Value (USDC)	Max Leverage
0-10k	10
>10k	5

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

Notional Position Value (USDC)	Max Leverage
0-20k	10
>20k	5

ETH - testnet only

Notional Position Value (USDC)	Max Leverage
0-20k	25
20-50k	10
>50k	5

BTC - testnet only

Notional Position Value (USDC)	Max Leverage
0-10k	40
10-50k	25
>50k	10