Hyperliquid is launching a portfolio margin system, now live on the testnet According to Hyperliquid's announcement, their on-chain portfolio margin system is set to launch and is now live in the pre-alpha phase on the testnet. This mechanism unifies users' spot and perpetual trading accounts, achieving higher capital efficiency while automatically earning interest on unused borrowable assets. Initially, only USDC will be borrowable, with HYPE as the sole collateral. In the future, assets like USDH and BTC will also be supported. Users can use a single account for collateralized arbitrage, offsetting PnL, and reducing liquidation risks. This upgrade also deeply integrates with the lending protocols within the HyperEVM ecosystem.