Hyperliquid Launches Unified Trading Testnet

Hyperliquid Introduces Portfolio Margin on Testnet

• Hyperliquid has launched portfolio margin in pre-alpha mode on testnet, enhancing capital efficiency.
• The system unifies spot and perpetuals trading, enabling strategies like carry trades and automatic yield on idle assets.
• Initially, only USDC is borrowable, with HYPE as the sole collateral asset.
• The platform plans to add USDH and Bitcoin before the alpha release, maintaining conservative borrowing limits.
• The portfolio margin framework applies across all HIP-3 decentralized exchanges and will extend to future HyperCore asset classes.
• Smart contract access via CoreWriter will be available in a later upgrade for developing on-chain strategies using ERC-20-based wrappers.

Hyperliquid’s launch of portfolio margin in pre-alpha mode aims to enhance trading efficiency by unifying spot and perpetuals trading. The initial rollout supports USDC borrowing with HYPE as collateral, with plans to include USDH and Bitcoin while maintaining conservative borrowing limits.