NEAR Protocol Adds Cross Margin to Confidential Perps

NEAR Protocol has rolled out cross-margin on its Hyperliquid-powered perpetuals platform, allowing trading positions to share a single perpetuals balance while maintaining confidential trading features, according to CryptoNews. Announced on Oct. 22, the update enables positions to draw collateral from a shared perpetuals balance instead of holding separate margin for each trade.

Confidential Accounts and Funding

The platform's product documentation describes dedicated Hyperliquid accounts with confidential deposits and withdrawals. NEAR explains that each user receives a dedicated account for trading perpetuals on Hyperliquid. For funding, NEAR Intents converts supported assets into the required margin currency, allowing users to start with assets held across connected networks while funding and settlement transactions are signed directly on their devices.

Hyperliquid documentation outlines account-level liquidation rules for positions utilizing shared cross margin. Under these rules, positions become subject to liquidation when account equity falls below the required maintenance margin. The platform first attempts to close positions through its order book before resorting to backstop processes.

Key facts

• Launch Date: NEAR Protocol announced the cross-margin feature on Oct. 22.
• Underlying Provider: The perpetuals trading interface operates on Hyperliquid.
• Margin Structure: Positions share a single perpetuals balance as margin instead of holding separate collateral.
• Exclusions: NEAR's perpetuals service excludes U.S. persons.