Separate position margin from account mode
Cross versus isolated describes how a position uses collateral. Account abstraction mode describes how spot, perps and different DEX balances are organized. Confusing the two can produce incorrect assumptions about which losses or balances interact.
The supported account modes are Unified, Portfolio margin and Manual / Standard. DEX abstraction is discontinued.
| Account mode | Balance and collateral scope | Main use or limit |
|---|---|---|
| Unified | One balance for each asset across spot and cross-margin positions in that asset | Recommended for most users; 50,000 user actions per day |
| Portfolio margin | One portfolio across eligible spot assets and cross-margin perpetual positions | Most capital-efficient; 50,000 user actions per day |
| Manual / Standard | Separate spot, perpetual and DEX balances; cross margin stays within each DEX | For market makers, high-volume automated users and builders; not subject to the 50,000-user-action limit |
Cross, isolated, strict isolated and no-cross
Cross margin shares eligible collateral with other cross positions, improving capital efficiency while allowing one loss to consume a common buffer. Isolated margin confines assigned collateral and permits margin adjustments after opening.
Strict isolated prevents manual margin removal, with margin released proportionally as the position closes. HIP-3 can also expose no-cross behavior, which keeps isolated accounting while allowing margin removal but disallows cross margin.
| Mode | Collateral scope | Primary trade-off |
|---|---|---|
| Cross | Compatible cross positions | Efficient but interconnected |
| Isolated | One position | Contained but less flexible |
| Strict isolated | One position; no manual removal | Tighter containment |
| HIP-3 no-cross | Isolated with removable margin | No cross netting |
Initial and maintenance margin
Initial margin for a position is position size multiplied by mark price and divided by selected leverage. Maximum leverage is asset-specific. The maintenance margin rate is half the initial margin rate at the tier’s maximum leverage. The required maintenance amount subtracts the tier’s maintenance deduction.
Removing collateral must still satisfy initial-margin rules and a transfer requirement based on at least 10% of total open notional. Liquidation logic uses mark price and account equity instead of one last trade.
initial_margin = position_size × mark_price ÷ leverage maintenance_margin = notional × maintenance_margin_rate − maintenance_deduction
Choose by failure containment
Cross margin is not automatically safer because it has more collateral, and isolated margin is not automatically safer because it limits spillover. The correct choice depends on correlated positions, operational monitoring and what should happen when one thesis fails.
Keep a buffer above maintenance, place risk exits before the liquidation boundary and verify the active mode after every account-setting change.