Introduction to Cross Margin Trading
Futures mode enables traders to operate across multiple business lines—spot, margin, futures, perpetual swaps, and options—using a unified cross margin account. Assets deposited into this account create a shared margin pool for all positions settled in the same cryptocurrency, allowing profits and losses to offset dynamically.
Key Features:
- Unified Margin Pool: All positions (e.g., BTC-settled) share collateral.
- Risk Aggregation: Positions are liquidated collectively if equity drops below requirements.
- Isolated Margin Option: Available for traders preferring position-specific risk management.
Asset Metrics in Cross Margin Accounts
| Term | Definition | API Parameter (Get Balance) |
|---|---|---|
| Equity | Total balance + Floating PnL (all positions) + Isolated margin + Options value. | eq (details array) |
| Free Margin | Usable margin for new trades: Max(0, Balance + Cross PnL – In Use). | availEq |
| Available Balance | Funds for isolated/spot/options (long) trades. Not displayed on UI. | availBal |
| In Use | Locked collateral (open orders/positions/accrued interest/bots). | frozenBal |
| Floating PnL | Unrealized PnL across margin/futures/options (cross + isolated). | upl |
| Leverage | Position value ÷ (Cross balance + Cross PnL). Calculated per crypto. | notionalLever |
| Maintenance Margin Ratio | Risk indicator: (Asset balance + PnL – Used amounts) ÷ (Maintenance margin + Fees). | mgnRatio |
Trading Rules & Scenarios
Cross Margin Mode:
- Futures/Perpetuals/Options (Short): Require
Free Margin ≥ Order Margin. - Spot/Options (Long): Require
Available Balance ≥ Order Amount.
Example: Margin Trade Verification
| Condition | Calculation | Outcome |
|---|---|---|
| BTC Balance | 700 BTC | |
| In Use (Positions/Orders) | 530 BTC | |
| Free Margin | 700 + 15 (PnL) – 530 = 185 BTC | Order succeeds if ≤ 185 BTC. |
Position Management
Margin Positions (Cross Mode)
| Field | Description | API Parameter (Get Positions) |
|---|---|---|
| Equity | Positive assets (excludes margin). | pos |
| Available Asset | Amount available to close. | availPos |
| Liability | Borrowed amount + interest (quote/base crypto). | liab |
| Est. Liq. Price | Reference price triggering liquidation. Not calculated for mixed positions. | liqPx |
Closing Positions:
Same-Crypto Margin/Asset:
- Use
Available Asset = (Liability × (1 + IMR/MMR%)) ÷ Mark Price.
- Use
Different-Crypto Margin/Asset:
- Sell entire position asset; pay off liability from account equity.
Risk Controls & Liquidations
Order Cancellation Rules:
- Triggered if
Available Equity – Used Amounts < Maintenance Margin + Order Fees. Pre-Liquidation Alerts:
- Warning at 300% maintenance margin ratio.
- Orders canceled if ratio ≤ 100%.
Liquidation Phases:
- Hedge Positions: Offset long/short contracts.
- Delta-Neutral Reduction: Liquidate positions balancing delta risk.
- Unhedged Positions: Prioritize highest-risk exposures.
FAQ
Q1: How is leverage calculated in cross margin mode?
A: Leverage = Position Value ÷ (Cross Balance + Cross PnL). Futures/margin/options values are aggregated per crypto.
Q2: What happens if my maintenance margin ratio hits 100%?
A: The system cancels open orders and partially liquidates positions until the ratio exceeds 100%.
Q3: Can I use isolated and cross margins simultaneously?
A: Yes, but risks are segregated. Isolated positions don’t share collateral with cross margin pools.
👉 Master Cross Margin Trading
👉 Advanced Risk Management Strategies
Disclaimer: Digital asset trading involves significant risk. Past performance does not guarantee future results. OKX provides tools but assumes no liability for trading outcomes.
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