How to calculate your liquidation price on Hyperliquid

The rule: 100 divided by your leverage

Leverage L means you post 1/L of the position value as margin. When the market moves against you by that same fraction, the margin is consumed and the position is closed. That is the whole rule: at L times leverage, roughly 100/L percent against you is enough. Direction changes nothing. A long liquidates below entry, a short above, at the same distance.

That table is arithmetic, not the exchange's own figure. Liquidation fires before your margin reaches exactly zero, because a maintenance requirement sits below the initial margin, so the real distance is shorter than the column above. The ticket shows an approximate liquidation price (≈) for your size and leverage before you confirm; once the position is open, its screen shows the price Hyperliquid computes. Leverage caps are set per market, and the ticket only offers what the market accepts. Every cap and margin mode is in the open dataset at /data/markets.json (CC BY 4.0) and on the market pages under /markets.

What shortens the distance

Two things sit between the table and reality. The maintenance requirement moves the trigger closer to your entry. And fees leave your balance the moment the order fills, so the position starts slightly below water and the room you computed is already smaller. One basis point (bp) is one hundredth of a percent.

HIP-3 markets (stocks, gold, indices, currencies) are deployed by third-party dexes, and the deployer adds a share of the protocol fee, between 0 and 300 %. Most add 100 %, which doubles Hyperliquid's fee on those markets. Each market's fee is on its page, and our commission is on /pricing.

Read fees as a share of your margin, not of the position. At 20× you post 5 % of the position, so each basis point of fee costs 0.2 % of your margin before the price has moved at all. Closing costs about the same again, plus the spread. The higher the leverage, the more fees weigh against the thin distance you have left.

Cross margin versus isolated margin

Margin mode decides what stands behind the position. Cross margin backs it with the free money on your account: more equity absorbs the loss, so the liquidation price sits further away, but one bad position can take the account with it. Isolated margin fences off a fixed amount: the liquidation price is closer, and the loss stops at that amount.

There is no mode to pick on StratiDex: margin is cross when the market allows it, isolated when it requires it, and the ticket says so when a market is isolated. The per-market value is in /data/markets.json if you want to check before you open the bot. The more money free on your account, the further away a cross-margin liquidation sits.

Why a cascade can go straight through your price

Your liquidation price is a trigger, not a promised exit. When it is reached, the position is closed into whatever order book exists at that instant. During a cascade there may be almost nothing there.

• One forced liquidation sells into the book and pushes the price lower.
• The lower price triggers the next account, which is forced to sell in turn.
• The book empties faster than market makers replace it, and prices skip whole levels.
• Your trigger can be crossed with no resting order at it, and the position closes further down.
• Depth is not the same from one market to the next: the thinner the book, the further a forced sale travels.

A stop loss works the same way: held by Hyperliquid, it fires at its level and then fills in the book as it stands. Set it early enough that a gap still leaves you margin. Leverage and size are the buffers you choose before you open. The full account of what can go wrong is on /risks.

What StratiDex shows before you confirm

Three taps open a position: market, direction, amount. Before you confirm, the ticket shows the live price, the leverage and the market's maximum, the position size, your stake and an approximate liquidation price (≈).

• Leverage buttons that stop at the market's real cap.
• The margin mode: isolated is flagged when the market requires it.
• Out of reach instead of a price when your free money covers the position widely: no price liquidates it today, and that changes if you open other positions.
• A warning on thin markets, where the gap between the buy and sell prices is wide.

Once the position is open, its screen shows the liquidation price computed by Hyperliquid. From there, or from the result screen, you set a stop loss and a take profit, both held by Hyperliquid. When you are in profit, a trailing stop keeps the share of your net gain you choose (75, 50 or 25 %, or 5 to 95 %) and never moves back. And once the price has covered three quarters of the way to your liquidation price, the bot sends an alert, with the choice to close or to add money.

Giving yourself room

1. Start from the move you can survive, not the size you want: if you need 5 % of room, 20× is already your ceiling.
2. Check the market's leverage cap and margin mode on its page under /markets, or in /data/markets.json, before you size the order.
3. Read the liquidation price on the ticket. If it sits inside a normal day's range for that market, lower the leverage.
4. Fund with room to spare: the bot asks for $13.00 to get started, and the smallest order is $11.00.
5. Set a stop loss between your entry and your liquidation price, from the result screen or the position screen.
6. Keep the near-liquidation alert in mind: when it arrives, close or add money before the market decides for you.

Leverage is the variable you set, and the one that fixes all the others. At 2× you can be wrong by half. At 50× you can be wrong by 2 %, once.