Hyperliquid will introduce Portfolio Margin

December 12. Hyperliquid announced today that its upcoming network upgrade will roll out the Portfolio Margin feature, which is already live in pre-alpha on the testnet. In Portfolio Margin mode, margin requirements for spot and perpetual contract trading are fully unified, significantly boosting capital efficiency. Additionally, Portfolio Margin accounts automatically earn interest on all idle borrowable assets. All HIP-3 DEXes are part of the Portfolio Margin calculation, though not all collateral assets from HIP-3 DEXes are eligible to be borrowed. Down the line, new asset classes on HyperCore and derivative primitives will also support Portfolio Margin. Users can provide liquidity using eligible quote assets to earn rewards. Official Note: Portfolio Margin will initially launch in pre-alpha with an extremely low total borrowable asset cap. Users are advised to test using a new account or sub-account with less than $1,000 in assets. If the cap is hit, the account will automatically switch back to the traditional non-Portfolio Margin mode. During pre-alpha, only USDC is borrowable, and HYPE is the only collateral asset. Before moving to alpha, USDH will be added as a borrowable asset, and BTC will be added as a collateral asset. More details will be posted in the official docs in upcoming updates.