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Hyperliquid Max Leverage: Every Market's Limit, Size Tiers and How to Change Leverage

The highest leverage on Hyperliquid is 50x, on SP500 (xyz), JPY (xyz), EUR (xyz), GBP (xyz). On the main crypto perps BTC goes to 40x and ETH to 25x; most altcoins stop at 10x, 5x or 3x.

To change it: click the leverage button above the order form (it reads 20x on BTC by default) → Adjust Leverage → pick a whole number up to the market's cap → confirm. Leverage is set per market on your own account, so you need a funded Hyperliquid account; join with code HOLYGRAIL first.

Join Hyperliquid with HOLYGRAIL →

Caps read from the Hyperliquid API on October 25, 2026, 01:04 UTC. The code takes 4% off your fees on the first $25M of volume and can only be added before $10,000 of volume. Leverage multiplies fees in dollars, because fees are charged on the full position. We earn a commission when you sign up through our links; it never raises your fees.

By · Published · 6 min read · Limits read from the Hyperliquid API every time this page is built; rules from the Hyperliquid docs and app, checked October 22, 2026 · How we verify

Hyperliquid maximum leverage by market

What is the max leverage on Hyperliquid?

It depends on the market, and the answer changes when Hyperliquid or a HIP-3 deployer adjusts a cap, so this page reads every limit from the public API when it is built (last build: October 25, 2026, 01:04 UTC).

GroupMarketsHighest capTypical cap
Crypto perps (validator-operated)17840x (BTC)10x for 30 markets; 5x or 3x for 144
HIP-3 perps (stocks, indexes, commodities, FX, pre-IPO)16450x (SP500 (xyz), JPY (xyz), EUR (xyz), GBP (xyz))10x for 111 markets; 137 of 164 isolated margin only

Leverage itself is a setting, not a product: the docs say it "can be set by a user to any integer between 1 and the max leverage", and the margin required to open is position size × mark price ÷ leverage. The cap only limits how little margin you may post. Liquidation is decided by the maintenance margin, which Hyperliquid sets at half the initial margin at the market's maximum leverage (1.25% for BTC), whatever leverage you pick.

Hyperliquid leverage limits for every crypto perp

All 178 live validator-operated perps, grouped by their cap, busiest market first within each group (API, October 25, 2026). Markets with their own page on this site are linked.

Max leverageCountMarkets
40x1BTC
25x1ETH
20x2SOL, XRP
10x30HYPE, ZEC, NEAR, PUMP, WLD, ENA, FARTCOIN, kPEPE, SUI, UNI, AAVE, DOGE, XPL, BNB, ARB, LINK, CRV, ONDO, DOT, AVAX, LTC, ADA, JUP, BCH, TRUMP, APT, kBONK, TRX, PAXG, kSHIB
5x56XMR, LIT, ZRO, STRK, TAO, TIA, GRAM, INJ, XLM, ICP, MON, ASTER, PENGU, MORPHO, PYTH, DASH, FIL, HBAR, SPX, SEI, VIRTUAL, PENDLE, FET, ETHFI, WLFI, RENDER, AVNT, LDO, ATOM, STX, OP, ALGO, ZK, W, JTO, POL, AR, WIF, COMP, ETC, S, MNT, EIGEN, KAITO, SAND, BERA, CFX, APE, IMX, RUNE, ENS, ZEN, DYDX, AXS, kFLOKI, NEO
3x88VVV, CASHCAT, AERO, PONS, USELESS, ZORA, INIT, ANIME, NIL, GRASS, SKR, CHIP, REZ, ALT, SOPH, CC, WCT, CAKE, MEGA, 2Z, SYRUP, STBL, 0G, BABY, GMX, BIGTIME, AZTEC, MET, YGG, MINA, SKY, SUPER, IO, PURR, HYPER, BLUR, MELANIA, STABLE, SNX, MERL, MOODENG, KAS, DYM, BANANA, USUAL, BSV, LAYER, ME, ACE, GOAT, LINEA, RESOLV, BRETT, POPCAT, NXPC, POLYX, MANTA, CELO, ZETA, GRIFFAIN, TRB, SUSHI, MOVE, IOTA, HEMI, APEX, PEOPLE, GALA, RSR, FOGO, BIO, ORDI, PNUT, AIXBT, BOME, kLUNC, GMT, XAI, GAS, SAGA, kNEIRO, TURBO, UMA, PROVE, MEME, NOT, HMSTR, TNSR

Hyperliquid info API metaAndAssetCtxs (field maxLeverage), delisted markets excluded. Sortable list with volume and funding: Hyperliquid markets data.

The pattern: the most liquid coins get the most leverage, and the cap falls fast after the top 4 (BTC, ETH, SOL, XRP). New listings and small caps usually start at 3x or 5x, because their prices move and squeeze faster than the order book can absorb a liquidation.

Related:Hyperliquid Order Types (2026): Limit, Post-Only, Reduce-Only

Leverage on stocks, indexes, gold and FX (HIP-3)

HIP-3 markets are perps deployed by third parties on Hyperliquid's order book. Each deployer sets its own caps, so the highest leverage on Hyperliquid is not on a crypto pair. Live caps by deployer (isolated-only markets marked †):

Deployer (dex)Max leverage → markets
XYZ (xyz, 116 live)

50x: SP500, JPY†, EUR†, GBP†

30x: XYZ100

25x: GOLD, SILVER

20x: CL, BRENTOIL, SPCX, NVDA, DRAM, GOOGL, META, AAPL, EWY†, EWZ†, TSLA, AMZN, MSFT, COPPER†, PLATINUM†, PALLADIUM†, SMH†, KR200†, XLE†, JP225†, TLT†, EWJ†, COST†, EWT†

10x: MRNA†, SNDK, SKHX, MU, MSTR†, SOXL†, CRCL, SKHY, INTC, SMSN†, CBRS†, BB†, AMD†, COIN†, NBIS†, HOOD†, BE†, CRWV†, MRVL†, KORU†, UNITREE†, CXMT†, NATGAS†, SNXX†, PLTR†, ORCL†, BABA†, LITE†, PURRDAT†, BOT†, NET†, KIOXIA†, IREN†, LLY†, CRWD†, IBM†, GME†, HO†, ARM†, AAOI†, AVGO†, SHEIN†, EBAY†, NFLX†, DELL†, STRC†, ZHIPU†, RKLB†, AMAT†, WDC†, ASML†, TSM†, HYUNDAI†, SHAZ†, QCOM†, QNT†, HIMS†, SOFTBANK†, USAR†, MINIMAX†, URNM†, NCLD†, BMNR†, GIGADEV†, NOW†, NOK†, GEV†, BX†, GLW†, CVX†, RDDT†, DKNG†, LYTE†, XBI†, CAMBRICON†, UMC†, ZM†, RIVN†, BIRD†, MAGS†, LRCX†, KSTR†, TWST†

5x: JIO†, OURA†

Paragon (para, 32 live)

20x: 10Y†, TOTAL2, 2Y†, BTCD, 30Y†

10x: UNITREE†, IREN†, MELI†, NET†, AAOI†, CRWD†, GLW†, TTWO†, COHR†, CRDO†, SMH†, VST†, GDX†, SMCI†, CIFR†, RDDT†, LRCX†, CIEN†, STX†, IGV†, OTHERS, AVGO†, SOFI†, TER†

5x: TREAD†, DRV†

3x: ANSEM†

EntropyIO (io, 11 live)

25x: DRAM†, EWY†

15x: SNDK†, NBIS†

10x: IONQ†, XIAOMI†, TCNT†

6x: ANTH†, OAI†

5x: GPRO†

3x: PRL†

Markets By Kinetiq (mkts, 5 live)

25x: USTECH, US500

20x: SMALL2000

10x: USBOND†

5x: BVIV†

perpDexs and metaAndAssetCtxs per dex, October 25, 2026. † = isolated margin only ("no cross" or strict isolated).

The markets that allow 25x or more, with the open-interest cap their deployer set. When a market reaches its cap the app warns that "the limit order would be canceled after resting because open interest is capped. Use market orders to close positions."

MarketMax leverageMarginOpen-interest cap
xyz:SP50050xCross or isolated$1.25B
xyz:JPY50xIsolated only$100M
xyz:EUR50xIsolated only$100M
xyz:GBP50xIsolated only$25M
xyz:XYZ10030xCross or isolated$1B
xyz:GOLD25xCross or isolated$750M
xyz:SILVER25xCross or isolated$500M
io:DRAM25xIsolated only$5M
mkts:USTECH25xCross or isolated$30M
mkts:US50025xCross or isolated$25M
io:EWY25xIsolated only$5M

Stock and index perps keep trading when the underlying exchange is closed, on an internal price with discovery bounds, so a weekend gap can hit a highly levered position at the reopen. Hours, weekend rules and fees: trade.xyz stocks on Hyperliquid; what HIP-3 is: Hyperliquid HIP-3.

How to change leverage on Hyperliquid

Hyperliquid Adjust Leverage window for BTC: 'Control the leverage used for BTC positions. The maximum leverage is 40x.', a slider set to 20 and a warning that higher leverage increases the risk of liquidation
The Adjust Leverage window on BTC-USDC, captured logged out on October 22, 2026 (logged in, the Connect button confirms the change). It states the market's cap and that "Max position size decreases the higher your leverage."
  1. Open the market on app.hyperliquid.xyz/trade and check the margin mode first (the Cross button): the mode cannot be switched while you hold a position in that coin, leverage can.
  2. Click the leverage button between Cross and the account-mode button. It shows the current setting (20x on BTC until you change it).
  3. Set the number in the Adjust Leverage window with the slider or the box. The window states the cap ("The maximum leverage is 40x" on BTC) and only accepts whole numbers.
  4. Confirm, then check Margin Required and Liquidation Price under the order form before you place the order. The setting stays on that market for your next orders; every other market keeps its own.
  • On an open position you can raise leverage without closing; the docs add that leverage "is only checked upon opening a position" and that monitoring it afterwards is up to you. To cut risk on an open position, reduce its size or, on isolated, add margin with Adjust Margin.
  • Through the API the same change is the updateLeverage action (asset, isCross, an integer leverage "subject to leverage constraints on that coin"): Hyperliquid API guide.
  • In third-party apps (Based, Liquid and others) you change the same setting: leverage is stored per coin on your address on HyperCore (the API's activeAssetData returns it), not in the front-end.

The Adjust Leverage window only confirms for a connected, funded account. Open one with code HOLYGRAIL (deposit at least 5 USDC): 4% off fees on your first $25M of volume, which matters more at high leverage because fees are charged on the full position.

Open Hyperliquid with HOLYGRAIL →

Why your max leverage is lower than the headline

  • Position size (margin tiers). 34 crypto perps have a second tier: above a notional threshold the cap drops and the maintenance rate rises. BTC allows 40x only up to $150M of position value and 20x above it. That is why the app says "Max position size decreases the higher your leverage" and shows "The max position size for [leverage]x leverage on [coin] is $…". The live tier tables:
MarketsTier 1Tier 2
BTC40x up to $150M20x above $150M
ETH25x up to $100M15x above $100M
SOL20x up to $70M10x above $70M
XRP20x up to $40M10x above $40M
HYPE, ZEC, NEAR, PUMP, WLD, ENA and 15 more10x up to $20M5x above $20M
XPL, BNB, ARB, ONDO, DOT, JUP and 3 more10x up to $3M5x above $3M

meta.marginTables, October 25, 2026. A "maintenance deduction" keeps the requirement continuous at the boundary, so only the notional above it pays the higher rate (docs, Margin tiers).

  • Isolated-only markets. 137 of 164 HIP-3 markets accept isolated margin only; the cap is the same, but no other balance can top the position up.
  • Open-interest caps on HIP-3 markets limit how much new exposure the whole market can add, whatever your leverage.
  • Testnet is lower. The docs keep testnet tiers smaller for testing; BTC on testnet drops from 40x after only $10,000 (testnet guide).
  • Your own margin. Leverage is checked against the margin you have when the order opens. "Insufficient margin to place order. Try using reduce only." means the account cannot fund the position at that setting.

Leverage vs liquidation distance

Because maintenance margin is half the initial margin at the cap, opening at the cap leaves a thin cushion. This table uses the docs' liquidation formula for an isolated long opened at each cap that exists on Hyperliquid today (a short is liquidated slightly sooner):

Market capInitial margin at the capMaintenance marginLiquidated after a move of aboutMarkets with this cap
50x2%1%−1.01%4
40x2.5%1.25%−1.27%1
30x3.33%1.67%−1.69%1
25x4%2%−2.04%7
20x5%2.5%−2.56%32
15x6.67%3.33%−3.45%2
10x10%5%−5.26%141
6x16.67%8.33%−9.09%2
5x20%10%−11.11%62
3x33.33%16.67%−20%90

Move = (initial − maintenance) ÷ (1 − maintenance), before fees and funding. At lower leverage the cushion grows: BTC at 10x isolated has about 8.9% before liquidation.

The practical rule: at the cap, the liquidation distance is roughly the maintenance rate, which on BTC (1.25%) is a move BTC can make within an hour. Pick leverage from where your stop sits, not from the cap; size with the position size calculator. Cross or isolated decides which balance backs the trade: cross vs isolated margin.

Hyperliquid Calculator — Your own numbers on any Hyperliquid market: margin required at your leverage, liquidation price and PnL after fees and funding. — Open the calculator →

Hyperliquid vs Lighter, Aster and edgeX max leverage

VenueBTC max leverageCatch
Hyperliquid40xUp to $150M of notional; 50x on some HIP-3 markets
Lighter50xNew BTC positions start at 20x until you raise it; ETH also 50x
Aster (order-book perps)200xOnly on the first $400 of notional; 150x up to $300,000. The separate 1001x mode is a different product
edgeX100xUp to $1M of notional, then stepping down

The higher headline caps on Aster and edgeX belong to their first size bracket and step down as the position grows, so compare the whole ladder at your size, not the first tier. All seven perp DEXs with their full tier ladders: DEX max leverage and tiers compared.

FAQ

What is the max leverage on Hyperliquid?

50x is the highest cap on any Hyperliquid market (SP500 (xyz), JPY (xyz), EUR (xyz), GBP (xyz), as of October 25, 2026). On the main validator-operated perps the top is 40x (BTC) and ETH allows 25x; 30 markets allow 10x and 144 of 178 allow 5x or less. Large positions get a lower cap through margin tiers.

Can you use 100x leverage on Hyperliquid?

No. No Hyperliquid market allowed more than 50x on October 25, 2026. Venues that advertise 100x or more, such as edgeX (BTC up to 100x on the first $1M of notional) or Aster's order-book perps, apply those caps only to their first size bracket, and step down as the position grows.

How do I change leverage on Hyperliquid?

On the market's Trade page, click the leverage button above the order form (it shows 20x by default on BTC), set a whole number from 1 to the market's maximum in the Adjust Leverage window, and confirm. The setting is per market and applies to your next orders in that market.

Can I change leverage on an open position?

You can raise it. The docs: "The leverage of an existing position can be increased without closing the position. Leverage is only checked upon opening a position." After that you are responsible for watching the margin. On isolated positions you can also add or remove margin directly, which moves the liquidation price.

Why can't I select the maximum leverage?

Either the position is too big for the top margin tier (BTC's 40x applies only up to $150M of notional), or the market has a lower cap than you expect. The app warns "Order placed exceeds the max position size at your current leverage. Reduce leverage to increase your max position size." Testnet uses lower tiers than mainnet.

Does leverage change the liquidation price on cross margin?

No. On cross margin the docs say the liquidation price is independent of the leverage setting: lower leverage only reserves more collateral, and the whole cross balance backs the position. On isolated margin leverage decides how much margin is allocated, so it moves the liquidation price directly.

Set your leverage on your own account

Join Hyperliquid with code HOLYGRAIL before your first deposit: 4% off taker and maker fees on your first $25M of volume, applied automatically when you join through the link.

Open Hyperliquid with HOLYGRAIL →

Disclosure: HOLYGRAIL is our referral code; we earn a share of referred accounts' fees at no cost to you. Leverage caps, tiers and open-interest caps are read from the Hyperliquid API when this page is built (latest: October 25, 2026); rules and app text from the Hyperliquid docs and app, read October 22, 2026; other venues' caps from our facts registry. High leverage can liquidate a position after a small move. Not investment advice.