> ## Documentation Index
> Fetch the complete documentation index at: https://hyperhedge.mintlify.site/llms.txt
> Use this file to discover all available pages before exploring further.

# What you can hedge

> The risks Offset surfaces, and how a hedge pays out.

Offset surfaces the prediction markets that could move your position. They fall
into a few buckets.

### The risks

* **Macro.** Inflation reports, Fed decisions, Treasury yields. These move every
  position, crypto and stocks alike.
* **Price moves.** Markets on the asset itself reaching or breaking a level, like
  "Bitcoin dips to $25,000" or "NVDA closes above $230".
* **Earnings and company events.** For stocks, things like an earnings miss, a
  margin call, or an index delisting.
* **Sector.** The force that actually drives a name. AI milestones for a chip
  maker like NVDA, a Bitcoin move for a crypto-treasury stock like MSTR.

### How a hedge pays out

Each card is a prediction market you can hold. You pay a small amount up front. If
the bad thing happens, the market pays out, and that payout offsets the loss on
your position. If it does not, you are only out what you paid, the same way
insurance works.

<Info>
  **Example.** You are long BTC. You hold a market that pays out if BTC crashes to
  \$25,000. If it crashes, you lose on your perp but the market pays you, covering
  much of the loss. If it does not, you are out the small premium, and your perp
  is fine.
</Info>

### Good to know

* **Crypto and stocks.** Any Hyperliquid perp, not just the majors.
* **Priced by the market.** The cost reflects how likely the event is right now.
  Offset always shows the live number.
* **It can expire.** Each market is tied to a specific event or window, and settles
  when it resolves.

A hedge carries its own risk: you can lose what you paid if the event resolves
differently than expected. Offset always shows the cost before you go to the venue.