Overview
In Cross Margin with Multi-Asset Collateral, users can use multiple supported assets such as BTC, ETH, or USDe as collateral to open and maintain positions.
However, not all assets contribute equally to your margin balance; their value is adjusted by a Collateral Value Ratio to manage market and liquidity risk.
Collateral Value Ratio
Although often mentioned together, these two serve different purposes:
| Term | Definition | Example |
| Collateral Value Ratio | The percentage of an asset’s value that counts toward your margin balance. A lower ratio means less of the asset’s value is usable as collateral. | BTC has a 95% Collateral Value Ratio → 95% of your BTC’s market value counts as collateral. |
Supported Collateral Assets (Priority Order)
These assets can be used as collateral in Cross-Margin with Multi-Asset Collateral mode.
They are listed in priority order; assets higher on the list are converted first during Auto-Exchange or liquidation events.
| Asset | Collateral Value Ratio |
| BTC | 95% |
| ETH | 95% |
| USDe | 99% |
| USDC | 99% |
| USDT | 100% |
| PUSDT | 100% |
| Trading bonus | 100% |
How Collateral Value Is Calculated
To determine the value of an asset used as collateral:
Collateral Value = Asset Market Value × Collateral Value Ratio
Example: Calculating Collateral Value
| Asset | Market Value (USDT) | Collateral Value Ratio | Collateral Value (USDT) |
| BTC | 100,000 | 95% | 95,000 |
| ETH | 5,000 | 95% | 4,750 |
| USDe | 1,000 | 99% | 990 |
Total Collateral Value = 95,000 + 4,750 + 990 = 100,740 USDT
This total is used in your Account Equity calculation for Margin Ratio.