How it works

Liquidations

Your margin covers a move of one over your leverage. A position is liquidated slightly before that point, at its bust price, when the mid reaches it. At 1000x that is a move of about 0.052% on BTC.

The bust price

Start from the zero-equity price, entry minus entry ÷ leverage for a long (plus for a short). The bust price sits 4.76 bp of that price closer to the entry on BTC. The trade panel shows it before you open, computed with the same integer tick rule the contract uses.

Leverage	BTC long: liquidated after
2×	49.976% against you
10×	9.957% against you
100×	0.953% against you
500×	0.152% against you
1,000×	0.052% against you

When it fires

As soon as the mid is at or beyond the bust price, anyone holding the keeper role can liquidate. The position is removed and the whole margin goes to the pool. It is not a close at the bust price: nothing is returned.

Fees and rebates

With an empty queue, 2% of the forfeited margin goes to stakers and the development fund; with claims queued, the whole margin pays the queue. Rebate tokens are minted on the full margin either way.

Who runs the keepers

Toro operates the keeper. Liquidations outrank every other action in the relayer’s queue, and a pending close does not shield a position from liquidation.

Values on this page are read from the HyperEVM mainnet deployment (chain 999, block 48891965) at build time.

Last updated 2026-10-18