Hyperliquid Looping Calculator
Hyperliquid Earn lets a Unified Account supply HYPE or BTC, borrow USDC against it, and buy more — a loop that turns a spot bag into a leveraged long. Pick your asset, how much you hold and the leverage you want; live LTVs and rates give you the liquidation price, the yearly borrow cost and a stress test. Free, read-only, updated continuously.
2 loops of borrow USDC → buy HYPE.
Advanced · live values, editable
- Liquidation price
- $56.39
- −36.1% from $88.21
- Yearly cost
- $803.11
- 8.06% of your equity
- Total exposure
- $19.94K
- 226 HYPE · $9.97K borrowed
HYPE can fall 36.1% to $56.39 before partial liquidations start · full takeover at $52.67
Details · stress test, health factor, the loop steps
If HYPE drops
| Drop | Price | Health factor | Margin ratio | Status |
|---|---|---|---|---|
| −10% | $79.39 | 117.0% | 67.5% | safe |
| −20% | $70.57 | 104.0% | 75.9% | safe |
| −30% | $61.75 | 91.0% | 86.8% | safe |
Margin ratio above 95% is liquidatable. Interest lifts the liquidation price over time: 3 mo $57.53 · 6 mo $58.70 · 12 mo $61.11.
- Health factor
- 130.0%
- < 100% = can't borrow more
- Yearly interest
- $803.11
- 8.06% on $9.97K
- Supply yield
- $0.00
- 0.00% on collateral
- Break-even move / yr
- +4.03%
- HYPE must rise this much
Same 2.00x via HYPE-PERP costs ~52.5%/yr in funding at the current rate (26.2% APR) vs costs ~8.1%/yr with this loop. Perps have their own liquidation rules.
How to get there · 2 loops on the Trade page
| Loop | Borrow → buy | Total borrowed | Collateral | Leverage | Liq price |
|---|---|---|---|---|---|
| 1 | $6.48K | $6.48K | $16.45K | 1.65x | $44.48 |
| 2 | $3.49K | $9.97K | $19.94K | 2.00x | $56.39 |
Live Hyperliquid Earn rates
Every reserve on Earn right now. Only assets with an LTV can be used as collateral; the stablecoins are what you borrow.
| Asset | LTV | Supply APY | Borrow APY | Utilization | Total supplied | Total borrowed |
|---|---|---|---|---|---|---|
| HYPEcollateral | 65% | 0.00% | 5.00% | 0.0% | 14,674,809.5 ($1.29B) | 0 ($0.00) |
| BTCcollateral | 50% | 0.00% | 5.00% | 0.0% | 2,365.87 ($182.74M) | 0 ($0.00) |
| USDC | — | 5.85% | 8.06% | 80.6% | 599,455,511.28 ($599.46M) | 483,422,272.01 ($483.42M) |
| USDT0 | — | 3.36% | 5.00% | 74.6% | 2,514,547.65 ($2.51M) | 1,876,059.44 ($1.87M) |
| USDH | — | 0.51% | 5.00% | 11.3% | 165,705.89 ($165.71K) | 18,721.72 ($18.72K) |
Source: Hyperliquid public API (Earn reserves + perp funding) · updated 2026-10-31 07:35 UTC
Hyperliquid looping — FAQ
What is looping on Hyperliquid Earn?
With a Unified Account you can supply HYPE or BTC to Hyperliquid Earn and borrow USDC against it. Looping means using that borrowed stablecoin to buy more of the same collateral, which raises your borrow capacity again, and repeating. You end up with a leveraged spot long that pays borrow interest instead of perp funding.
How much leverage can a loop reach?
Each round can borrow the collateral's LTV of whatever you now hold, so the leverage converges to 1 / (1 − LTV). HYPE's current LTV of 65% caps a loop at about 2.86x; the first few loops get you most of the way there. The slider stops just short of the cap because the cap itself leaves no borrowing headroom.
How is the liquidation price worked out?
Hyperliquid marks a Unified Account liquidatable when (borrowed + 20 USDC) exceeds 95% of your collateral value × its liquidation threshold, where the threshold is 0.5 + 0.5 × LTV. Solving that for the collateral price gives the liquidation price shown. Between that level and the full-takeover threshold (LTV + ⅔ of the gap to 100%) the protocol liquidates in partial steps; below it the whole position is taken over. Some guides quote the simpler borrowed / (collateral × threshold), which sits a few percent lower — this calculator deliberately uses the stricter protocol formula, and the stress test shows how the health factor and margin ratio move on a 10, 20 and 30% drop.
Is a loop cheaper than just going long on the perp?
Often, but not always. A loop pays interest only on what you borrowed (leverage − 1 times your equity), while a perp pays funding on the full notional (leverage times your equity). When funding is positive and above the borrow rate the loop is cheaper to hold; when funding flips negative the perp pays you instead. The Details section prints both numbers at the current rates. Perps liquidate differently and you hold no spot tokens.
What does the calculator not model, and where does the data come from?
Not modelled: trading fees and slippage on each buy, differences between the borrow oracle price and the spot price you actually fill at, borrow and supply caps being hit, and accounts holding several collateral assets at once. Interest accruing onto the debt is shown as the drift of the liquidation price at 3, 6 and 12 months. All numbers come from Hyperliquid's public API — Earn reserve states for LTV, rates, utilization and oracle prices; perp metadata for funding — re-rendered on the server every minute and re-polled in your browser every 30 seconds. Planning estimate, not financial advice.