Hyperliquid Perp Calculator: Simulate Long/Short, Fees and Liquidation

Before opening a Hyperliquid perp, the difference between a well-sized entry and an avoidable liquidation usually comes down to numbers: mark price, open fees, accumulated funding and distance to liquidation price. Hyperfolio Perp Calculator v0.7.5 (app.hyperfolio.fun) solves this without connecting a wallet or asking for private keys — it's read-only and uses live data from HL's public API.

Unlike generic leverage calculators that assume static prices, this tool syncs Hyperliquid's current mark price, applies protocol fee rates and models funding based on your position side. You can toggle between cross and isolated margin to see how liquidation risk changes.

This guide covers each calculator field, the liquidation formula Hyperfolio uses, practical LONG and SHORT cases, and how to combine simulations with your real portfolio in the unified panel.

What is Perp Calculator v0.7.5?

• LONG/SHORT position simulator for Hyperliquid perp markets
• Real-time mark price from HL API — not generic spot price
• Open and close fee calculation per market tier
• Accumulated funding projection by side and current rate
• Cross margin and isolated margin modes with different liquidation
• No wallet connected: read-only, zero private keys

Main simulator fields

Asset and side

Select the perp market (BTC-PERP, ETH-PERP, alts, HIP-3 RWAs). LONG side simulates bullish bet; SHORT simulates bearish. Mark price updates automatically when changing assets.

Size and leverage

Enter notional in USD or contract size as preferred. Leverage multiplies exposure over assigned collateral. The calculator shows required margin, unrealized PnL on price moves and percentage distance to liquidation.

Trading fees

• Open fee (taker/maker depending on simulated order type)
• Estimated close fee on exit
• Combined impact on break-even price
• Visual comparison: gross PnL vs net PnL after fees

Funding on Hyperliquid

HL funding rate transfers periodic payments between LONGs and SHORTs based on market imbalance. The calculator projects funding cost or income by your side: if you're LONG and funding is positive, you pay; if negative, you receive.

• Current funding rate for selected market
• Hourly and daily projection based on simulated hold time
• Accumulated impact on position net PnL
• Useful for evaluating carry cost on multi-day swings

Cross margin vs isolated margin

Cross margin

Entire account balance acts as shared collateral. A position in drawdown can absorb margin from other winning positions. Liquidation occurs when account value falls below total maintenance margin. The calculator shows liquidation price considering the cross collateral you specify.

Isolated margin

Only margin assigned to that position is at risk. If price hits liquidation, you lose isolated margin but the rest of the account stays intact. Ideal for testing aggressive sizes without compromising the full portfolio.

• Cross: lower individual liquidation risk, higher account systemic risk
• Isolated: risk capped per position, more likely liquidation on sharp moves
• Calculator recalculates liquidation price when switching modes

Liquidation formula

Hyperfolio applies Hyperliquid's maintenance margin logic: liquidation when remaining position margin (or account in cross) doesn't cover maintenance requirement. For LONG, liquidation price is below entry; for SHORT, above.

• LONG liquidation ≈ entry × (1 − 1/leverage + maintenance margin rate)
• SHORT liquidation ≈ entry × (1 + 1/leverage − maintenance margin rate)
• Fees and accumulated funding adjust effective available margin
• Calculator shows % distance from current mark price to liquidation

Exact values vary by asset per HL maintenance margin tier. The simulator uses current parameters for the selected market — not generic approximations.

Practical cases

LONG BTC at 5x isolated

Simulate $10K notional on BTC-PERP at 5x with $2K isolated margin. See how far BTC must drop (from mark price) to liquidate you and how much funding you'd pay in 48h. Adjust leverage to 3x and compare liquidation distance.

SHORT ETH in cross with mixed portfolio

With $15K account value in cross, simulate SHORT ETH-PERP $30K at 10x. The calculator indicates whether other LONG positions in your real account (visible in Hyperfolio portfolio) would affect shared safety margin.

Integration with Hyperfolio

• Cross simulations with real positions in your HL portfolio panel
• Use Markets for price context before simulating entry
• Combine with Smart Money to validate if top traders use similar leverage
• Wallet tracker to see how followed traders manage margin

Related guides: markets-hyperliquid-guia, smart-money-hyperliquid-guia, hyperliquid-wallet-tracker-guia.

Common simulation mistakes

• Ignoring funding on holds >24h — especially on alts
• Using spot price instead of HL mark price for liquidation
• Not distinguishing cross vs isolated when copying another trader's leverage
• Forgetting open and close fees in real break-even
• Simulating without checking asset maintenance margin tier

Conclusion

Hyperfolio Perp Calculator v0.7.5 turns Hyperliquid public data into concrete risk decisions: real mark price, fees, funding, cross/isolated and liquidation. It's free, read-only and accessible at app.hyperfolio.fun without connecting a wallet.

Simulate before executing on HL's official app. In 2026, the trader who sizes positions with verified numbers has edge over whoever trades on intuition.