Trading
Margin & Leverage
Isolated margin per position. Dynamic max leverage based on probability level.
Isolated margin per position. Dynamic max leverage based on probability level.
Dynamic leverage
10×
20–80%
5×
10–20%
3×
5–10%
2×
<5% / >95%
Margin math
Initial Margin (IM) = Notional ÷ Leverage
Maintenance Margin (MM) = 50% of IM
Liquidation (long) = Entry × (1 − 1/Leverage × MM_Ratio)At max leverage near terminal probabilities (very high or very low), liquidation distance shrinks fast. The dynamic leverage curve enforces lower max leverage in those zones to protect both traders and the vault.
Related
- Risk Management — what happens when liquidation triggers
- Funding Rates — additional cost of holding leveraged positions
- How It Works — example trade with P&L math