Hyperliquid launches investment portfolio margin feature, unified management of spot and perpetual margin

【Blockchain Rhythm】Hyperliquid has recently launched a major feature upgrade: the Portfolio Margin mode is now available on the testnet in pre-alpha form.

The core significance of this feature is to connect the margin accounts of spot and perpetual contracts. Previously, you had to manage funds separately on both sides, but now they can be fully unified, greatly improving capital efficiency. In other words, your funds are used more effectively.

More interestingly, those temporarily unused lendable assets in your account will automatically generate income. All HIP-3 DEXs are included in the calculation, and users can also provide liquidity with eligible quote assets to earn additional income. However, note that not all collateral assets on HIP-3 DEXs can be borrowed.

The official emphasizes: this feature is still in pre-alpha stage, and the total borrowing limit is very low. If you want to try it out, it’s best to use a new account or sub-account, and keeping the account assets below $1,000 is more stable. When the limit is reached, the system will automatically revert to the traditional non-portfolio margin mode.

Currently, only USDC can be borrowed in the pre-alpha stage, and HYPE is the only collateral asset. In the alpha stage, USDH will be added to the list of borrowable assets, and BTC will also become a collateral option. More detailed instructions will be available in the official documentation later.