Margining
How margin, collateral, and risk management work on Hypercall.
Overview
Mainnet Alpha uses Standard Margin for general users. Portfolio Margin is live for allowlisted accounts; see Onboarding to Portfolio Margin to get on it.
Key principle: margin = worst_loss + cash ≥ 0
Guides
Core Concepts
- Standard Margin - Current Mainnet Alpha margin mode
- Portfolio Margin - Portfolio-level margining across options and perps. Live for allowlisted accounts.
- Onboarding to Portfolio Margin - Why you start from a new wallet, the setup steps, and what is live today
- Margin Floor - Minimum margin requirements
Risk Events
- Settlement - Options expiry and cash settlement
Quick Reference
| Concept | Description |
|---|---|
| Initial Margin | Required to open a position |
| Maintenance Margin | Required to keep a position open |
| Worst-case Loss | Maximum loss across all stress scenarios |
| Liquidation | Forced position closure when margin insufficient |
See Also
- Introduction - Platform overview and architecture
- Fees - Trading fee rates and how they interact with margin
- Contracts - On-chain settlement and account management
- Margining Basics (course) - Beginner-friendly explanation of margin concepts