By Keel Research Team · Updated September 18, 2026
Compute the liquidation price for any Hyperliquid perp position. Enter asset, side, entry price, leverage, and margin mode — the calculator returns the liquidation level and the percentage cushion to it, using HL's isolated-margin formula with the asset's own maintenance-margin rate.
Sets the maintenance margin: half the initial margin at the asset’s max leverage on Hyperliquid — 40x for BTC, so 1.25%.
1x to 40x — Hyperliquid’s cap for BTC.
Percent of notional. Leave blank for HL’s rate at the asset’s max leverage (1.25% for BTC). Override for the deeper margin tier — e.g. 2.50 for BTC above its first notional break.
The BTC long liquidates when price moves 8.86% down from entry.
Hyperliquid liquidates a position when account equity falls below the maintenance margin. Its published rule is liq = price − side × margin_available / size / (1 − l × side), with side = +1 for a long and −1 for a short, margin_available = isolated margin − maintenance margin required, and l the maintenance-margin rate. For a position opened at entry with leverage L the size cancels and it reduces to entry × (1 − 1/L) / (1 − l) for a long and entry × (1 + 1/L) / (1 + l) for a short.
The maintenance margin is half the initial margin at the asset’s maximum leverage, not at the leverage you chose: l = 1 / (2 × max leverage) — 1.25 % for BTC (40x), 2 % for ETH (25x), 2.5 % for SOL and XRP (20x), 5 % for 10x assets. Picking the asset sets the rate; the leverage field is capped at the asset’s max. Default input, BTC long $50,000 at 10x: 50,000 × 0.9 / 0.9875 = $45,569.62, an 8.86 % cushion. The rate steps up above the asset’s first notional break ($150M for BTC) — override the maintenance-margin field for a position that size. Max leverages are from HL’s meta endpoint as of September 18, 2026.
Cushion percentage is the price move (down for a long, up for a short) that liquidates the position. Use it to sanity-check leverage against expected volatility: a 3.8 % cushion (BTC at 20x) against an asset that swings 8 % intraday is a setup designed to liquidate. A 1x long has no liquidation price — the mark would have to reach $0.
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Hyperliquid’s rule is liq = price − side × margin_available / position_size / (1 − l × side), where l is the maintenance-margin rate — half the initial margin at the asset’s maximum leverage — and margin_available is the isolated margin minus the maintenance margin required. For a position opened at entry with leverage L that reduces to: long liq = entry × (1 − 1/L) / (1 − l), short liq = entry × (1 + 1/L) / (1 + l). BTC long $50,000 at 10x: l = 1/(2 × 40) = 1.25 %, so liq = 50,000 × 0.9 / 0.9875 = $45,569.62, an 8.86 % cushion.
Maintenance margin is the minimum equity Hyperliquid requires you to hold against a position before liquidating. On Hyperliquid it is half the initial margin at the asset’s max leverage — not at the leverage you chose — so it depends on the asset: 1.25 % for BTC (40x), 2 % for ETH (25x), 2.5 % for SOL and XRP (20x), 5 % for 10x assets such as HYPE, DOGE, AVAX and BNB. The calculator applies that rate when you pick the asset. Above the asset’s first notional break ($150M for BTC, $100M ETH, $70M SOL, $40M XRP, $20M or $3M for the alt groups) the max leverage halves and the rate doubles — enter that rate in the override field for a position that size.
Higher leverage means a smaller move against you exhausts your margin, while the maintenance margin stays fixed by the asset. For a BTC long the cushion is 18.99 % at 5x, 8.86 % at 10x, 3.80 % at 20x and 1.27 % at 40x (BTC’s max). A 1x long has no liquidation price at all — its margin covers a move to $0. This calculator surfaces both the absolute price and the cushion percentage so you can size leverage relative to expected volatility.
It computes the isolated-equivalent liquidation. Under cross-margin, liquidation depends on your entire account equity, not just this position — losses on other positions can push this one toward liquidation earlier than the isolated number suggests. Use the isolated price as a floor, then keep margin headroom across the account.
Build a strategy in Keel that includes explicit stop-loss orders sized relative to liquidation distance. The Keel execution engine places stops automatically on every fill and re-prices them on position changes — meaningfully tighter risk control than relying on the liquidation engine.
The formula behind this calculator, worked examples, the margin-tier table, and what actually happens at liquidation — market order, backstop, ADL.
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