Carry Desk

Hyperliquid borrow/lend analytics for the portfolio-margin era: live USDC utilization and rates, funding carry on the top perps net of borrow costs, and a liquidation calculator for HYPE/BTC collateral positions.

USDC Borrow/Lend — live

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Utilization & rate history — USDC

Carry Desk — rate history
⚡ USDC utilization crossed 50% — supply APR repriced within one snapshot
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Carry monitor — funding vs borrow cost

Carry Desk — carry monitor
⚡ 3 of the top 20 pairs pay positive net carry after the 5% USDC borrow APR
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PM liquidation calculator

Collateral value$4.5K
Borrow capacity (LTV)$2.3K
Borrow health factor2.25
Collateral liq price (borrow)20.00
Collateral drawdown to liq55.6%
Perp leg — portfolio margin vs classic cross
Equity backing perp$1.3K vs $0.00
Effective leverage1.6x vs ∞
Perp liq price (PM)72.56
Perp liq price (classic cross)45.00
Simplified threshold model: collateral prices held fixed for the perp liq solve, linear PnL, no interest/funding accrual. Hypothetical inputs only — nothing is read from your account.
Reserve data from Hyperliquid borrow/lend (snapshot every 15 minutes). Portfolio margin is in beta on mainnet: HYPE and BTC collateral at 0.5 LTV with automatic USDC borrow; idle borrowable assets earn the supply APR. Nothing here is financial advice.