A 1× long in HYPE² can still be liquidated.

Paragon's Power #PERPS pitch is a curved payoff without an expiry. But the holding cost matters: longs usually pay funding for that convexity, with payments settled hourly.

The project's #FAQ says a fully collateralized 1× long cannot be liquidated by a price decline alone. Funding payments or losses elsewhere in a cross-margin account can still drain its collateral.

So a quiet $HYPE market isn't automatically a cheap market to hold this position in. Check the funding rate and margin setup before treating “1×” as a safety label.