Define the risk first
then size the position
Disciplined position management rests on quantified risk rather than intuition. Once the maximum acceptable loss for a trade is defined, HYPERNOVA derives the position size, the margin required and the estimated liquidation price, and flags the case where leverage places liquidation ahead of the stop.
Crypto Futures Position Calculator
Trade parameters
Results
Trade Journal
Record closed trades to obtain your realised win rate, per-trade expectancy, profit factor and equity curve. Each outcome is measured as an R-multiple — the realised profit or loss divided by the risk taken on that trade — so trades of different sizes remain comparable. All records are held in your browser and are never uploaded.
Record a trade
Statistics
Why risk comes first
Loss limit first, size second
Disciplined sizing quantifies the acceptable loss first, then derives the position size from the stop distance — rather than choosing a size first and passively accepting whatever exposure follows.
Liquidation checked in advance
When leverage is too high the liquidation price can be reached before the stop, leaving the stop without protective effect. The tool computes the liquidation price and raises a warning in that case.
R:R and net-of-fee outcomes
The risk-to-reward ratio is computed automatically, alongside net profit and net loss after fees on both legs, so a trade is never assessed on gross figures alone.
Methodology
Every formula used by this tool is published below. All figures follow directly from them, with no undisclosed adjustments. Notation: E entry price, S stop price, T target price, A account size, r risk per trade, L leverage, m maintenance margin rate, f fee rate per side, Q position size, N notional value.
The acceptable loss follows from the account size and the risk rate; the position size is then derived from the stop distance. Size is determined by risk, independently of leverage.
Liquidation occurs where account equity equals the maintenance margin, with that margin valued at the liquidation price rather than at entry. The expressions below are the exact solution to that condition, not a linear approximation. Cross margin assumes this is the only open position.
The entry leg is charged at the entry price and the exit leg at the actual exit price, so a stop exit and a target exit do not cost the same. The Fees row on this page uses the stop-exit basis, which reconciles exactly with the net loss figure.
The risk-to-reward ratio is the target distance divided by the stop distance and is known before entry. The R-multiple is the realised result divided by the risk taken on that trade, which makes trades of different sizes comparable.
Basis of estimation: once a symbol is entered, the maintenance margin rate is derived from Hyperliquid’s rule — maintenance margin = 1 ÷ (2 × the contract’s max leverage) — using their public contract list. Two caveats. First, Hyperliquid applies tiered margin to large positions (for example BTC drops to 20x max leverage above $150M notional); this page uses the first tier, which is accurate for any position below that threshold. Second, the liquidation price remains a theoretical estimate: the actual level is also affected by funding costs, realised P/L and other positions in the account. Always defer to the value displayed by your exchange.
About HYPERNOVA
HYPERNOVA is a risk-management toolkit for crypto derivatives traders, built to make institutional position-sizing methods directly usable by anyone.
The position calculator and the trade journal are the two tools currently available. Further risk-control features will follow, and the calculation methods will remain fully published.
Three standing principles: the parameters you enter are used only on your own device; no trade data is collected or uploaded; no wallet connection is required. The only outbound request fetches public contract parameters from Hyperliquid and carries no user information.