cross-margin

Hyperliquid has enabled a cross-margin automatic deleveraging (ADL) liquidation system across all its major perpetual contract markets, introducing deeper risk management in the face of rising open contract volumes and fluctuating funding rates. After a series of internal stress tests and simulations conducted over the past month, ADL is now officially live to ensure orderly market operations during periods of extreme volatility, especially when liquidity tightens or large positions approach liquidation.When the insurance fund cannot fully absorb the losses from liquidated positions, ADL (automatic liquidation mechanism) serves as a backup liquidation method. In this scenario, positions of profitable traders with high leverage and high unrealized gains may be partially or fully reduced to cover the funding gap. Hyperliquid emphasizes that ADL will only be triggered in exceptional circumstances, and its design aims to maintain market integrity by preventing potential cascading defaults that could disrupt the entire ecosystem.

ChainCatcher news, BitMEX co-founder Arthur Hayes stated that the automatic liquidation of cross-margin position collateral by large centralized exchanges (CEX) is the reason for the significant decline of many altcoins during this round of price downturn.He mentioned, "When limit orders are not smooth, liquidation operates normally," and indicated that several high-quality altcoins are unlikely to return to their previous lows in the short term.

ChainCatcher news, crypto KOL and Primitive Ventures co-founder Dovey posted on social media, speculating that the recent market crash was caused by a large institution (possibly a traditional trading company using cross-margin) facing liquidation on the Binance platform.While further analysis is needed, initially, the price of USDe on Binance dropped to 0.6, while prices on other trading platforms remained relatively stable. Additionally, there has been a significant divergence in volatility between tokens listed on Binance and those not listed on Binance.

ChainCatcher news, according to the official announcement, Binance will adjust the collateral rates of multiple assets under the cross-margin mode in two batches on August 15, 2025, at 6:00 (UTC) and August 22, 2025, at 6:00 (UTC), involving dozens of tokens such as ENA, JUV, BAR, etc. There may be a service interruption of about 30 minutes during the adjustment period, and users need to closely monitor their margin levels to avoid the risk of forced liquidation.

ChainCatcher news, according to the official announcement, the coin security warehouse and isolated margin leverage have added multiple trading pairs including AAVE/USDC, EURI/USDT, SLF/USDT, SLF/USDC, TRX/USDC, etc.

ChainCatcher news, according to a Binance announcement, the Binance margin trading platform will delist the TUSD trading pair from cross margin and isolated margin at 14:00 (Beijing time) on July 24, 2024. The delisted cross margin trading pairs include BTC/TUSD and TUSD/USDT, while the isolated margin trading pairs include BTC/TUSD and TUSD/USDT.

ChainCatcher news, according to the official announcement, Binance has added FDUSD full margin and isolated margin trading pairs. These include ALT/FDUSD, ETHFI/FDUSD, IO/FDUSD, MEME/FDUSD, PYTH/FDUSD, TNSR/FDUSD, and TAO/FDUSD.

ChainCatcher message, Binance leverage will remove the BTC/BUSD and ETH/BUSD cross-margin and isolated-margin trading pairs on December 7, 2023, at 14:00. The isolated-margin lending services for the above trading pairs will be suspended. Binance will automatically close and liquidate the cross-margin and isolated-margin positions for the above trading pairs and cancel all user orders in the above trading pairs. Subsequently, the above trading pairs will be delisted from the leverage platform.

According to ChainCatcher's message and the official announcement, Binance leverage will undergo a system upgrade for cross-margin leverage from September 19, 14:00 to September 19, 15:00, and for isolated-margin leverage from September 20, 14:00 to September 20, 15:00, in order to enhance the overall performance and stability of the system. All leverage services will remain operational during the system upgrade.To ensure the best experience, users are advised to operate before or after the upgrade. Users are also recommended to reassess their margin balance and risk ratio before the system upgrade to avoid potential liquidation risks due to price fluctuations.

ChainCatcher message, Binance adds FDUSD as a new borrowable asset for cross-margin and isolated-margin. New cross-margin trading pairs: BTC/FDUSD, ETH/FDUSD, FDUSD/USDT, YGG/BTC; New isolated-margin trading pairs: BTC/FDUSD, ETH/FDUSD, FDUSD/USDT, OP/BTC.