> For the complete documentation index, see [llms.txt](https://docs.satori.finance/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.satori.finance/perpetual-trading/margin.md).

# Margin

Satori enforces margin requirements for users, including an initial margin requirement to open and increase positions, as well as a maintenance margin requirement to avoid liquidation. Users can add or remove margin above the initial requirement as needed. 

#### Initial Margin <a href="#initial-margin" id="initial-margin"></a>

The initial margin is calculated as follows:

*Initial Margin = Initial Margin Fraction \* Order Price \* Order Size*

This represents the collateral required to open a position, determined by the initial margin rate and the value of the order.&#x20;

The maximum supported leverage is 25x, meaning at least 4% of the position value must be used as collateral when opening a new position.

Example:&#x20;

With $100 of collateral, the maximum position size is calculated based on the leverage applied.&#x20;

| Leverage | Position Size |
| -------- | ------------- |
| 1x       | $100          |
| 5x       | $500          |
| 10x      | $1,000        |
| 25x      | $2,500        |

#### Maintenance Margin <a href="#maintenance-margin" id="maintenance-margin"></a>

The maintenance margin is defined as:

*Maintenance Margin Amount = Maintenance Margin Fraction \* Entry Price \* Position Size*

This is the minimum collateral required to maintain a position. If the value of a position falls below the maintenance margin level, it may be automatically liquidated.&#x20;

Maintenance margin rates are determined on a per-token pair basis.&#x20;

For example:&#x20;

| Token     | Maintenance Margin Rate |
| --------- | ----------------------- |
| BTC       | 1.5%                    |
| ETH       | 1.5%                    |
| MATIC     | 1.5%                    |
| SOL       | 3%                      |
| BNB       | 3%                      |
| SUI       | 3%                      |
| DOGE      | 3%                      |
| ARB       | 3%                      |
| OP        | 3%                      |
| NEAR      | 3%                      |
| SCR       | 3%                      |
| 1000PEPE  | 3%                      |
| ZK        | 1.5%                    |
| USDE      | 0.8%                    |
| WIF       | 5%                      |
| WLD       | 3%                      |
| TON       | 3%                      |
| GOAT      | 5%                      |
| 1000DOGS  | 5%                      |
| NEIRO     | 5%                      |
| NOT       | 5%                      |
| MEW       | 5%                      |
| PEOPLE    | 5%                      |
| 1000SHIB  | 5%                      |
| 1000BONK  | 5%                      |
| 1000FLOKI | 5%                      |
| 10000WHY  | 5%                      |

Example 1: BTC Maintenance Margin Fratction is 1.5%&#x20;

* A long leveraged position in BTC-USD may be liquidated if the mark price falls below 1.5% above the bankruptcy price.&#x20;

&#x20; If users use 20x leverage: &#x20;

* A mark price decline of 5% results in bankruptcy (5% \* 20x = 100% loss).&#x20;
* A decline of 3.5% results in liquidation (5% - 1.5% = 3.5%).&#x20;

Example 2: SOL Maintenance Margin Fraction: 3%&#x20;

* A long leveraged position in SOL-USD may be liquidated if the mark price falls below 3% above the bankruptcy price.&#x20;

If users use 20x leverage:&#x20;

* A mark price decline of 5% results in bankruptcy (5% \* 20x = 100% loss).&#x20;
* A decline of 2% results in liquidation (5% - 3% = 2%).&#x20;


---

# Agent Instructions
This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com.

## Querying This Documentation
If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question.

Perform an HTTP GET request on the current page URL with the `ask` query parameter, and the optional `goal` query parameter:

```
GET https://docs.satori.finance/perpetual-trading/margin.md?ask=<question>&goal=<endgoal>
```

`ask` is the immediate question: it should be specific, self-contained, and written in natural language.
`goal` is optional and describes the broader end goal you are ultimately trying to accomplish on behalf of the user. GitBook uses it to tailor the answer towards what is most useful for that goal.

The response will contain a direct answer to the question and relevant excerpts and sources from the documentation.

Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.