Cross Margin Mode Overview

What Is Cross Margin Mode?

In Cross Margin Mode, supported collateral assets in your account are shared across all open positions. Your total account equity is used to maintain all active trades, allowing profits from one position to offset losses from another.

Note: Multi-position mode is allowed under Cross Margin.

Key Features

• Account Equity: The total value of your assets used as collateral, calculated as:
  Account Equity = Sum of (Collateral × Collateral Value Ratio) + Unrealized P&L
• Account Maintenance Margin: The minimum collateral required to maintain all open Cross Margin positions, now calculated under the Position Bracket System (tiered margin). Maintenance margin depends on the position value of each contract and its corresponding bracket.
• Account Margin Ratio: Measures account-level risk:
  Cross Margin Ratio = Account Maintenance Margin / Account Equity
• Actual Leverage: The effective leverage used across all positions in your Cross Margin account is capped based on the maximum leverage allowed for the position’s bracket.
   

Multi-Asset Mode Enabled by Default

When Cross Margin Mode is active, Multi-Asset Mode is automatically enabled. This allows multiple supported assets — such as BTC, ETH, USDT, USDC, USDe, PUSDT, and Trading Bonus — to be used as shared collateral for your positions.

Example:

• Your account holds a BTCUSDT perpetual position of 0.01 BTC (worth 1,000 USDT) and 0.2 ETH (worth 500 USDT). Both assets contribute to your overall collateral balance.
• If your BTCUSDT position moves against you and loses more than 1,000 USDT, your ETH and BTC collateral can cover the shortfall.
• Position Bracket Impact: Each position is also evaluated under its position bracket, meaning your maintenance margin and max leverage are determined based on the total position value. This ensures your position stays compliant with the bracket rules.
   

Adding Margin and Increasing Position Size

• Cross Margin automatically uses your supported assets to maintain margin for all positions.
• Manual margin adjustment is not available for individual positions in Cross Margin Mode.
• Position Bracket Rule: Users may not increase a position beyond the bracket limit by simply adding margin. To enter a larger position, users must reduce leverage so the position fits within the bracket. Adding margin alone will not allow increasing the position size beyond the current bracket.
   

Liquidation Rules

Cross Margin positions are managed at the account level, and liquidation follows these rules:

• A warning email is sent when your Account Margin Ratio is ≥ 90%.
• Liquidation is triggered when the Account Margin Ratio is ≥ 100%.
   

Liquidation Process:

1. All open orders are canceled.
2. If canceling orders is insufficient, all positions in the account are liquidated.

This ensures that losses do not exceed your total account equity.

Key Takeaways

• Cross Margin shares all supported assets across positions.
• Multi-Asset Mode is automatically enabled.
• Margin adjustments are automatic; manual adjustments per position are not required.
• Position Bracket System: Each position’s maintenance margin and max leverage are determined based on its bracket.
• Users may only reduce leverage to increase position size; adding margin alone will not allow exceeding bracket limits.
• Liquidation occurs at the account level, based on the Account Margin Ratio.
• Margin mode changes are per contract and only allowed when no active positions exist.