Risk, Leverage, and Educational Limits

On Hyperliquid, as of October 2026, which price decides when a leg is liquidated?

• The last trade on the order book
• The mark price
• The candle close your backtest uses

One leg of your pair is on isolated margin and is liquidated. What happens to your cross margin and your other positions?

• They cover the rest of that leg's loss
• They are untouched; only that leg's isolated margin is lost
• The other leg is closed automatically at the same time