Module 3 · Lesson 11 · 9 min

Liquidity Stress Without a Shared Vault Story

What you'll be able to do

  • Describe how Hyperliquid closes a failing position, from market orders to the liquidator vault to auto-deleveraging.
  • Explain why auto-deleveraging tends to close the winning leg of a pair, and what the state machine does next.
  • List this course's stress scenarios for a pair book and what each one changes.

This course is for members.

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