diff --git a/docs/includes/exchange-features.md b/docs/includes/exchange-features.md
index 5d84f763b..7aa6e6436 100644
--- a/docs/includes/exchange-features.md
+++ b/docs/includes/exchange-features.md
@@ -11,7 +11,7 @@
 | [Gate.io](exchanges.md#gateio) | futures | isolated | limit |
 | [HTX](exchanges.md#htx) | spot | | limit |
 | [Hyperliquid](exchanges.md#hyperliquid) | spot | | ❌ (not supported) |
-| [Hyperliquid](exchanges.md#hyperliquid) | futures | isolated | limit |
+| [Hyperliquid](exchanges.md#hyperliquid) | futures | isolated, cross | limit |
 | [Kraken](exchanges.md#kraken) | spot | | market, limit |
 | [OKX](exchanges.md#okx) | spot | | limit |
 | [OKX](exchanges.md#okx) | futures | isolated | limit |
diff --git a/docs/leverage.md b/docs/leverage.md
index d1517e2d3..ca37a0d35 100644
--- a/docs/leverage.md
+++ b/docs/leverage.md
@@ -92,6 +92,11 @@ One account is used to share collateral between markets (trading pairs). Margin
 
 Please read the [exchange specific notes](exchanges.md) for exchanges that support this mode and how they differ.
 
+!!! Warning "Increased risk of liquidation"
+    Cross margin mode increases the risk of full account liquidation, as all trades share the same collateral.
+    A loss on one trade can affect the liquidation price of other trades.  
+    Also, cross-position influence may not be fully simulated in dry-run or backtesting mode.
+
 ## Set leverage to use
 
 Different strategies and risk profiles will require different levels of leverage.
diff --git a/freqtrade/exchange/hyperliquid.py b/freqtrade/exchange/hyperliquid.py
index 74f7c5694..9dcc0e6a4 100644
--- a/freqtrade/exchange/hyperliquid.py
+++ b/freqtrade/exchange/hyperliquid.py
@@ -44,6 +44,7 @@ class Hyperliquid(Exchange):
     _supported_trading_mode_margin_pairs: list[tuple[TradingMode, MarginMode]] = [
         (TradingMode.SPOT, MarginMode.NONE),
         (TradingMode.FUTURES, MarginMode.ISOLATED),
+        (TradingMode.FUTURES, MarginMode.CROSS),
     ]
 
     @property
@@ -99,7 +100,6 @@ class Hyperliquid(Exchange):
                    'SOL/USDC:USDC': 43}}
         """
         # Defining/renaming variables to match the documentation
-        isolated_margin = wallet_balance
         position_size = amount
         price = open_rate
         position_value = price * position_size
@@ -117,8 +117,14 @@ class Hyperliquid(Exchange):
         #       3. Divide this by 2
         maintenance_margin_required = position_value / max_leverage / 2
 
-        # Docs: margin_available (isolated) = isolated_margin - maintenance_margin_required
-        margin_available = isolated_margin - maintenance_margin_required
+        if self.margin_mode == MarginMode.ISOLATED:
+            # Docs: margin_available (isolated) = isolated_margin - maintenance_margin_required
+            margin_available = stake_amount - maintenance_margin_required
+        elif self.margin_mode == MarginMode.CROSS:
+            # Docs: margin_available (cross) = account_value - maintenance_margin_required
+            margin_available = wallet_balance - maintenance_margin_required
+        else:
+            raise OperationalException("Unsupported margin mode for liquidation price calculation")
 
         # Docs: The maintenance margin is half of the initial margin at max leverage
         # The docs don't explicitly specify maintenance leverage, but this works.
diff --git a/tests/exchange/test_hyperliquid.py b/tests/exchange/test_hyperliquid.py
index c7924080e..c2bff9339 100644
--- a/tests/exchange/test_hyperliquid.py
+++ b/tests/exchange/test_hyperliquid.py
@@ -6,7 +6,8 @@ import pytest
 from tests.conftest import EXMS, get_mock_coro, get_patched_exchange
 
 
-def test_hyperliquid_dry_run_liquidation_price(default_conf, mocker):
+@pytest.mark.parametrize("margin_mode", ["isolated", "cross"])
+def test_hyperliquid_dry_run_liquidation_price(default_conf, mocker, margin_mode):
     # test if liq price calculated by dry_run_liquidation_price() is close to ccxt liq price
     # testing different pairs with large/small prices, different leverages, long, short
     markets = {
@@ -281,7 +282,7 @@ def test_hyperliquid_dry_run_liquidation_price(default_conf, mocker):
 
     api_mock = MagicMock()
     default_conf["trading_mode"] = "futures"
-    default_conf["margin_mode"] = "isolated"
+    default_conf["margin_mode"] = margin_mode
     default_conf["stake_currency"] = "USDC"
     api_mock.load_markets = get_mock_coro()
     api_mock.markets = markets
@@ -299,11 +300,32 @@ def test_hyperliquid_dry_run_liquidation_price(default_conf, mocker):
             position["contracts"],
             position["collateral"],
             position["leverage"],
-            position["collateral"],
-            [],
+            # isolated doesn't use wallet-balance
+            wallet_balance=0.0 if margin_mode == "isolated" else position["collateral"],
+            open_trades=[],
         )
+        # Assume full position size is the wallet balance
         assert pytest.approx(liq_price_returned, rel=0.0001) == liq_price_calculated
 
+        if margin_mode == "cross":
+            # test with larger wallet balance
+            liq_price_calculated_cross = exchange.dry_run_liquidation_price(
+                position["symbol"],
+                position["entryPrice"],
+                is_short,
+                position["contracts"],
+                position["collateral"],
+                position["leverage"],
+                wallet_balance=position["collateral"] * 2,
+                open_trades=[],
+            )
+            # Assume full position size is the wallet balance
+            # This
+            if position["side"] == "long":
+                assert liq_price_returned > liq_price_calculated_cross < position["entryPrice"]
+            else:
+                assert liq_price_returned < liq_price_calculated_cross > position["entryPrice"]
+
 
 def test_hyperliquid_get_funding_fees(default_conf, mocker):
     now = datetime.now(UTC)