Split Collateral Can Leave Bitcoin Hedges Exposed to Liquidation
Photo: TokenPost
A Bitcoin hedge can still face forced liquidation when its long and short positions are held across venues that assess collateral through separate accounts and risk systems. A market-neutral strategy may pair a long Bitcoin (BTC) position on Hyperliquid with a short position through CME Group futures. The positions can offset each other economically, but a loss on one venue may trigger a margin call before the gain on the other position can support the account facing the shortfall. Hyperliquid perpetual contracts are USDC-margined and support cross or isolated margin at the wallet level.
Source: TokenPost
