# Hypercall Portfolio Margin Combines Options and Perpetual Risk By John Kim Canonical URL: https://www.tokenpost.com/news/business/40127 Published: 2026-10-24T16:21:20.000Z Updated: 2026-10-24T16:21:20.000Z Section: Business > The feature is available to every account and assesses Hypercall options and Hyperliquid perpetual positions against USDC collateral. Hypercall has made portfolio margin available to every account, combining risk calculations for its options and Hyperliquid perpetual positions against USDC collateral in a setup that may reduce collateral needs. The feature expands on the scope of Hypercall's June 1, 2026, mainnet launch, which focused on long-premium and defined-risk trades and held back broad portfolio margin. It follows the company's [earlier push to simplify options trading](). Options are divided among contracts with different strike prices and expiration dates, leaving sellers to manage exposure across a range of positions. A fully paid long-option buyer can lose the premium, and the contract may expire worthless. Perpetual futures have no expiration date and make funding payments hourly. A leveraged perpetual position can be liquidated after an adverse move, before a longer-term view has time to play out. Perpetual markets can provide options sellers with a venue to adjust their hedges. Hypercall's model evaluates options and perpetual exposures together under spot-price and volatility stress scenarios. The combined assessment may reduce collateral needs, but it does not remove market or liquidation risk. Hypercall's system has both on-chain and off-chain components. Option matching, orderbook management, pre-trade margin checks, pricing and liquidation orchestration take place off-chain. Hypercall does not write each options match to the chain. Hypercall tracks option positions and cash in its own engine, while perpetual positions remain on Hyperliquid. “A perp lets you choose how far the price can move against you,” Saurabh Deshpande wrote. He views perpetual markets as a potential hedge venue for options sellers, while identifying liquidity and sustainable market-maker incentives as unresolved challenges. ## Links in this article - [earlier push to simplify options trading](https://www.tokenpost.com/news/business/27604)