Hyperliquid announces HIP-3 cross-guarantee functionality is now available on the testnet.

PANews reported on February 13th that, according to a Hyperliquid announcement, the cross-margin functionality of the HIP-3 permissionless perpetual contract market has been enabled on the testnet. While not yet available on the mainnet, it meets the criteria for mainnet-level vulnerability rewards. HIP-3 deployers must first enable this functionality for a specific asset before users can conduct cross-margin transactions.

Under a unified account, all cross-margin perpetual contracts using the same collateral can share margin, even across multiple DEXs. Assets on different DEXs will be protected up to their maintenance margin levels to prevent automatic liquidation due to significant volatility on other DEXs. This "protective cross-margin" system balances solvency with user experience. Cross-margin is not designed for DEX abstractions, and related interfaces should not use this functionality through DEX abstractions.