Margin & leverage

Perpetuals are traded on margin: you post USDC collateral and control a larger position. This page explains how leverage, margin modes, and liquidation work on Hypersight.

Leverage

Set leverage per market, from 1× up to that market’s maximum. Higher leverage means a smaller margin requirement for the same position size — and a closer liquidation price. Your leverage setting persists between sessions.

Margin modes

• Cross margin — all your positions share your account’s collateral. Profit in one position can support another, but a loss draws down your whole account.
• Isolated margin — collateral is assigned to a single position. Its risk is capped at the margin you allocate; it can’t pull down the rest of your account.

Choose the mode per market in the order panel.

Margin tiers

Larger positions are subject to margin tiers: as your position notional grows, the maximum allowed leverage steps down. This protects the system (and you) from outsized positions at extreme leverage. The trading desk reflects the applicable tier for your position size.

Liquidation

If your margin falls below the maintenance requirement, the position is liquidated. Your liquidation price is shown live on every position and drawn on the chart, so you always know how much room you have.

Account modes & collateral

How your collateral is shared between perps and spot depends on your account mode (set in Settings):

• Standard — perp and spot balances are separate. Hypersight can auto-transfer USDC between them when needed (e.g. for a spot buy).
• Unified account — your spot USDC counts toward perp margin, so collateral is pooled automatically.
• Portfolio margin — an advanced risk model available on eligible accounts.