User Interface and Strategy Customization

Liminal’s Customized now provides a single unified experience for managing your strategies. Our UI merges simplicity and advanced controls into one view, making it intuitive for beginners while offering powerful customization options for experienced users.

From Liminal Customized UI, you can:

• View all key metrics at a glance: your Liminal balance, APY, funding earned, TVL, and historical performance.

• Monitor your positions in real time with up-to-the-second data directly from Hyperliquid.

• Customize your strategy parameters, including leverage, asset selection, and allocations.

• Access detailed analytics and transparency features, such as on-chain verification of trades and yields via the Verify button.

Monitoring Performance

As you use Liminal Customized, you’ll notice several metrics on your dashboard that help you understand your strategy’s performance. The main ones are:

Your 30d APY (%):

Your 30-day APY represents the annualized funding yield generated by your strategy over the last 30 days. For each asset, the contribution is derived from the funding rate of the perpetual leg, adjusted for both the leverage applied and the asset’s allocation within the strategy. The 30-day APY is calculated as the weighted average of these contributions across all assets. A 10% performance fee is then deducted from this weighted average, meaning the displayed APY is already net of performance fees. An exception applies for USDe and thBILL allocations are exempt from performance fees. It is important to note that this metric does not include execution costs such as spreads, trading fees, or builder fees. Execution costs are highly dependent on prevailing market conditions and vary with factors such as volatility and the user’s specific entry price. Since these conditions cannot be anticipated before execution, the 30-day APY should be interpreted as a gross performance indicator of funding yield potential, rather than a final net return.

Your Liminal Balance:

Your Liminal Balance: Your Liminal balance shows the current total value of your strategy across both spot and perpetual positions.

Short-term fluctuations can occur due to:

• Spot/perp price spreads at entry, exit, or rebalance

• Execution slippage

• Temporary price volatility

These variations are typically minor and tend to be offset over time as funding earned accumulates. This balance reflects your net value within Liminal, but it may briefly diverge from your initial deposit, especially around rebalances.

Funding earned:

Funding earned reflects the total funding received by your delta-neutral strategy, after Liminal’s 10% performance fee has been deducted.

In short: Funding earned = Gross funding earned – 10% performance fee Execution costs are not deducted. This metric helps you evaluate the raw performance of your strategy. Your actual balance accounts for this value minus execution-related costs over time.

Leverage Customization

Leverage is a key tool to optimize capital efficiency on Liminal. It’s available to both Self-Custody and Regular users, allowing each to adjust exposure according to their risk and yield preferences.

Leverage can improve capital efficiency and amplify returns within Liminal’s delta-neutral framework. However, higher leverage brings the position closer to its risk thresholds and makes it more sensitive to market fluctuations. This may result in more frequent rebalancing in order to preserve delta neutrality and keep the strategy aligned.

Such additional adjustments generate higher execution costs, which can gradually erode the net yield of the strategy. Leverage therefore increases both the potential upside and the likelihood of higher costs, a balance that should be carefully considered by each user.

Using leverage allows you to allocate less USDC to the perp leg and more to the spot leg, increasing the total position size while keeping the same deposit.

Example (illustrative only):

If the base strategy environment yields ~10% APY:

• 1× leverage: 10% APY

• 2× leverage: ~13.3% APY

In the example above, the performance gain behaves as follows:

• Non-linear growth: Returns increase with leverage, but not proportionally.

• Asymptotic cap (example-specific): In this scenario, performance tends toward a theoretical maximum of 20%, even with higher leverage.

Leverage Risk/Reward: Liminal’s engine manages higher-leverage configurations with the same core controls as standard setups, but tighter collateral buffers make the system more sensitive to price movements. This can lead to more frequent rebalances and execution costs, where the engine may partially reduce a position to restore safety margins or, in rare cases, fully close the position, always well before the true liquidation price to maximize user protection. Leverage limits by asset

Liminal does not adjust leverage dynamically, but applies strict leverage caps based on asset volatility. Currents limits:

• BTC/ETH → up to 2×

• Volatile assets like FARTCOIN, HYPE or PUMP → no leverage allowed for now

Leverage parameters may evolve over time, depending on market conditions, liquidity, and volatility of each supported asset.

Custom Strategy Parameters

Beyond leverage, Liminal Customized gives you the ability to choose which asset’s funding rate you want to capture. While strategies originally launched with $BTC as the default market, Liminal has since expanded to support multiple spot assets listed by Unit, and this list evolves with listings and liquidity conditions.

New assets are gradually introduced as Unit lists them, but availability also depends on market depth and liquidity conditions. If an asset listed by Unit is too illiquid or volatile, it won’t immediately be enabled in Liminal, our engine only supports markets where execution is safe and scalable.

Each supported asset operates as a separate strategy, but you can also combine several into a single multi-asset portfolio using the asset selector. This lets you diversify funding exposure and build more customized yield profiles.

Importantly, each asset has its own safety parameters, including:

• Asset-specific leverage caps based on volatility and liquidity

• TVL and per user-caps to avoid saturating markets

• Custom risk thresholds controlling partial or full position reductions

These measures ensure that even as more markets are added, your strategy remains stable and secure.

Because funding rates and liquidity vary by asset, each strategy has its own APY potential and risk profile. For example, one asset may offer higher funding yields but come with wider spreads or more frequent rebalancing. UI displays a per-asset breakdown of performance as well as your combined portfolio totals, giving you full transparency into how each allocation contributes to overall returns.

To help users navigate these differences, Liminal provides an Assets page featuring a detailed scoring system for each market. This score factors in multiple parameters such as liquidity depth, volatility, funding stability, and historical efficiency, allowing you to quickly assess the relative safety and performance potential of every asset.

Finally, while chasing higher APYs can be tempting, it’s important to understand the underlying asset’s liquidity, volatility profile, and the execution costs involved. Frequent switching between assets can increase these costs and impact performance. Liminal is designed to help you capture funding efficiently while keeping systemic risk controlled, but informed allocation choices remain key to optimizing your results.