Margin and liquidation

Initial margin is the requirement used when admitting new exposure. Maintenance margin is the requirement used to assess ongoing position health. A position can be acceptable at entry and become unsafe after prices, funding, or account balances change.

Market metadata supplies initial margin, maximum leverage, and maintenance-margin tiers. The applicable maintenance requirement can change with position notional. Use the current market limits and the order preview; a limit observed on another market or at an earlier time may not apply.

Available for Orders is the account’s reported capacity for new orders, not a guaranteed cushion against every future price move.

The execution engine calculates margin and fee reserves from exact amounts and current account state before admitting an order. Ongoing risk uses mark prices and maintenance requirements to identify positions that need resolution.

Pre-trade checks. The engine checks leverage, required reserves and available margin. Insufficient margin, bad debt or restricted risk-increasing exposure can cause rejection.

Reducing exposure. Risk-increasing orders and reduce-only orders follow different admission rules. A reducing instruction remains subject to its market status, position size and execution conditions.

Liquidation policy. Identifying a liquidation candidate does not mean a close has executed. Automated liquidation depends on the environment’s enabled policy; otherwise the candidate requires resolution. Monitor current risk and confirmed position state rather than assuming automatic liquidation is active in every environment.

The account view reports its margin mode. Cross margin generally assesses exposure against shared account collateral; isolated margin generally confines allocated margin to a position. The reported mode and current service calculations determine the account’s behavior.

The current terminal does not offer a margin-mode switch. Changing the order ticket’s leverage does not switch between cross and isolated margin. Do not assume a separate balance allocation that the application has not shown.

Review account equity, available collateral, open positions, and the fresh order preview together. See collateral and balances.

The preview provides an estimated liquidation price for the proposed order where available. Positions provides the current reported liquidation and margin status. These values can move as the position, account, mark price, fees, funding, or applicable tier changes.

Risk is assessed using reported mark information, which can differ from the chart’s Index or Trade series and from the last fill. A missing liquidation value is unavailable data, not zero risk.

A liquidation-candidate or bankrupt status requires attention to the current account state. Do not wait for an old chart level or a stale estimate to determine whether exposure remains safe. See trading risks.

The engine needs current, reliable reference prices to assess risk. A recent execution alone does not provide that reference. The market.price stream reports indexPriceAtoms, markPriceAtoms, primaryPriceAtoms and comparatorPriceAtoms, along with provider information and confidenceBps. Each field has a distinct role; the supplied mark price remains the valuation reference.

Risk-increasing orders can be blocked when required price data is stale, unavailable or outside the configured agreement bounds. An available comparison source does not automatically replace the required primary source. Read the market status and preview or rejection reason before changing exposure. Reducing positions and cancelling orders follow their own rules.

For the field definitions, see the WebSocket channel reference and live market data.

To reduce exposure, review a Reduce Only order or the position’s Close action. To remove unused resting orders, use Cancel and confirm the result. Additional collateral can help only after a supported deposit is actually credited; a pending transfer is not available margin.

If the application reports incomplete risk information, stale account data, or an unavailable preview, wait for recovery and inspect the reason. The service can refuse new exposure while required risk evidence is unavailable. An old successful preview cannot override that state.

No exit type, funding action, or displayed estimate guarantees that liquidation will be avoided.

Perpetuals can create exposure larger than the collateral supporting it. A relatively small adverse move can materially reduce equity and lead to liquidation. You can lose collateral before you have time to react.

An estimated liquidation price is not a guarantee. Fees, funding, other positions, pending orders and changing account conditions can affect risk. Monitor current margin, not just entry price or unrealized PNL.

A market order can experience slippage or partial execution. A limit order can remain unfilled. A stop or take-profit instruction depends on its trigger, eligibility and available execution conditions; it is not insurance against losses.

Closing a position also requires successful execution. A pending close must not be treated as a closed exposure. Read Orders and Positions.

24/7 trading does not ensure deep liquidity or fresh reference data at every moment. Last, mark and index prices can differ. Spreads can widen, liquidity can disappear and an external reference market can be closed while a perpetual continues trading.

Do not rely on a single chart, stale quote or a previously displayed preview when deciding whether to submit an instruction.

Connections, authentication, market-data sources, software, custody services and settlement networks can fail or become delayed. An account can show last-known information while current state is unconfirmed.

A successful sign-in, API response or WebSocket connection is not by itself proof of a successful trade or settlement. Keep order and withdrawal identifiers so you can check an uncertain result without blindly repeating it.

Security audits have not yet been completed. Review the current audit status.

Automated clients can place orders quickly, including orders that do not match your intent if a strategy or instruction is wrong. Use the narrowest required permissions and explicit limits for size, inventory and losses. Give the agent a defined trading task before enabling trade access.

Deposits, withdrawals and custody approvals remain owner actions. Review Agent permissions and Account security before connecting automation.

Access does not establish that the product is permitted in your location. Eligibility, sanctions restrictions, tax obligations and legal treatment depend on the applicable rules and your circumstances. Documentation is explanatory, not personalized investment, legal or tax advice.

Read the product's Terms of Use, Privacy Notice and risk disclosure. During pre-launch testing, these destinations can require approved deployment access. Ask Support for the applicable documents if you cannot reach them. Where a document is marked interim or pre-launch, it must not be treated as a finalized public-launch agreement. Edel's general website terms are not a replacement for Markets-specific agreements. These guides do not create additional rights or guarantees.

These simplified relations explain the quantities shown in the account and order preview. Let q be signed position quantity, with a positive value for a long and a negative value for a short; Pmark is the mark price, Pentry the entry price, and C the cash balance. All amounts must use compatible units.

For example, a long position of 2 units entered at 100 and marked at 110 has mark notional of 220 and a simple unrealized gain of 20 before other account effects. It does not follow that the account can withdraw 20 or open another order with 20 of margin. Existing requirements and reservations still matter.

The service’s current metadata, exact arithmetic, preview and account risk fields remain authoritative. Maintenance tiers, fee reserves, open orders, withdrawal reservations, cross-position effects and rounding can change the result; these relations are not a client-side replacement for the venue’s risk engine.