Position Commands

What is a position?

A position is an open trade. When you place a market or limit order that fills, it becomes a position. You hold that position until you close it, either manually or through a take-profit or stop-loss trigger.

Positions have a few key properties:

• Side: Long (you profit when price goes up) or short (you profit when price goes down)

• Size: How much of the asset you are holding

• Leverage: How much your exposure is multiplied relative to your collateral. With 10x leverage and $100 deposited, you control $1,000 worth of the asset. This amplifies both gains and losses

• Margin mode: Whether your collateral is shared across all positions (cross) or locked to this position individually (isolated)

• Unrealised PnL: How much you are up or down on the position right now

Viewing your positions

Run byreal-perps-cli position list to see all open positions, including their size, entry price, current mark price, leverage, margin mode, and unrealised PnL.

Leverage

Leverage multiplies your exposure. A 5x leveraged position on $200 of USDC gives you $1,000 of market exposure. This means a 10% price move in your favour gives you 50% return on your collateral, but a 10% move against you loses 50%.

Higher leverage increases both potential gains and the risk of liquidation, which is when your position is automatically closed because your losses have consumed your collateral.

To set leverage on a position:

byreal-perps-cli position leverage BTC 10

Leverage can be set between 1x and 50x. You can also include --cross or --isolated to switch margin mode at the same time.

Margin mode

Margin mode controls how your collateral is allocated.

Cross margin uses your entire account balance as collateral across all positions. If one position is losing, your other funds can help keep it open. This lowers the chance of liquidation but means a liquidation event can affect your whole account.

Isolated margin locks a set amount of collateral to a specific position. If that position is liquidated, only the allocated collateral is lost and the rest of your account is unaffected.

To switch margin mode:

byreal-perps-cli position margin-mode BTC cross
byreal-perps-cli position margin-mode ETH isolated

Note: Some assets on Hyperliquid only support isolated margin. The CLI will block a cross-margin request on those assets and return a clear error message.

Closing positions

There are three ways to close a position:

Close at market price fills immediately at the best available price. Use this when you want out quickly:

byreal-perps-cli position close-market BTC

Close with a limit order lets you set the price you want to exit at. The order sits in the book until the market reaches your price. Use this when you are not in a rush and want a specific exit:

byreal-perps-cli position close-limit BTC 105000

The CLI will warn you if the price you set would fill immediately with more than 5% slippage from the current mark price.

Close all positions closes everything at once. This always requires confirmation:

byreal-perps-cli position close-all -y

Position commands summary

Command	Description
position list	View all open positions
position leverage <coin> <1-50>	Set leverage between 1x and 50x
position margin-mode <coin> <cross or isolated>	Switch margin mode
position tpsl <coin>	View existing TP/SL orders
position tpsl <coin> --tp <price> --sl <price>	Set or replace TP/SL on a position
position tpsl <coin> --cancel-tp	Cancel the take-profit order
position tpsl <coin> --cancel-sl	Cancel the stop-loss order
position close-market <coin>	Close a position at market price
position close-limit <coin> <price>	Close a position with a limit order
position close-all -y	Close all open positions