NEAR Launches Cross‑Margin on Hyperliquid Perpetuals

Overview

• NEAR rolled out cross‑margin on its Hyperliquid‑powered perpetuals interface so multiple positions can draw from a single perps balance instead of holding separate margin.
• Hyperliquid documentation says unrealized profits from cross‑margin positions can become initial margin for new trades and that the platform uses a combined mark price and hourly funding transfers between longs and shorts.
• Account‑level liquidation rules apply so an entire account can enter a backstop process and transfer cross positions and collateral to a liquidator vault if equity falls far below maintenance margin.
• NEAR advertises more than 50 perpetual markets with up to 40x leverage, uses NEAR Intents for device‑signed funding and settlement flows, and says each user gets a dedicated confidential trading account without independent privacy verification.
• The service excludes U.S. persons and other restricted jurisdictions and NEAR has not published trading volumes, user counts or third‑party audits, so transparency on usage and the confidentiality claim is still limited.