Margin tiers

Testnet only

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

As a pilot symbol for margin tiers, DOGE has the following margin tiers on testnet. The tiers here are lower than mainnet would feature, for ease of testing.

Notional Position Value (USDC)	Max Leverage
0-20k	10
20-100k	5
>100k	3