Glossary
Leverage
The multiple of your collateral that a position controls. It does not change your fee rate; it changes how small a move against you exhausts your margin.
Checked against the Hyperliquid documentation 8 Sept 2026 · how we check
Related terms
- Initial margin The collateral a position requires when you open it: position size times mark price, divided by your chosen leverage.
- Liquidation price The price at which your account equity falls to the maintenance margin and the position is closed by the exchange. It is a level where liquidation begins, not a guaranteed exit price.
- Notional value The full value of a position, as opposed to the collateral backing it. Fees and funding are charged on notional, which is why leverage does not change your fee rate.