MEXC Policy on Handling Abnormal Trading Behavior
<div><h2><span style="font-family:'arial' , 'helvetica' , sans-serif"><strong style="font-weight:bolder">1. Overview</strong></span></h2><div> </div><div><span style="font-size:16px"><span style="font-family:'arial' , 'helvetica' , sans-serif">To regulate trading activities, maintain market functioning, and ensure fairness, MEXC monitors trading activity to identify and address irregular behavior. When abnormal trading behavior is identified, MEXC may initiate procedures for handling abnormal trading and take corresponding management measures against the users involved.</span></span></div><div> </div><h2><span style="font-family:'arial' , 'helvetica' , sans-serif"><strong style="font-weight:bolder">2. Identification of Abnormal Trading Behavior</strong></span></h2><div> </div><div><span style="font-size:16px"><span style="font-family:'arial' , 'helvetica' , sans-serif">A user's activity will be deemed abnormal trading behavior under any of the following circumstances:</span></span></div><div> </div><div><span style="font-size:16px"><span style="font-family:'arial' , 'helvetica' , sans-serif">1) Engaging in repeated self-trading (buying and selling with oneself) or transactions between accounts under the same beneficial control, acting as counterparties multiple times (self-matching). This includes, but is not limited to, abnormal behavior such as identical or related sources of funds across one or more accounts, identical IP addresses, or synchronized trading patterns; accounts under the same actual control using wash trading or matched trades to manipulate market prices; or repeated counterparty transactions between customers within one or more accounts under common control.</span></span></div><div> </div><div><span style="font-size:16px"><span style="font-family:'arial' , 'helvetica' , sans-serif">2) Frequent intraday order placement and cancellation that may affect trading prices or mislead other market participants (frequent order placement and cancellation).</span></span></div><div> </div><div><span style="font-size:16px"><span style="font-family:'arial' , 'helvetica' , sans-serif">3) Multiple intraday large-order placements and cancellations that may affect trading prices or mislead other market participants (large-order placement and cancellation).</span></span></div><div> </div><div><span style="font-size:16px"><span style="font-family:'arial' , 'helvetica' , sans-serif">4) The number of opened trades in a single day for a specific trading product (including but not limited to MEXC Futures or Spot) exceeds the intraday trading limits set by the exchange.</span></span></div><div> </div><div><span style="font-size:16px"><span style="font-family:'arial' , 'helvetica' , sans-serif">5) Using algorithmic trading methods to place orders in a way that may affect the security of MEXC's systems or the normal trading order.</span></span></div><div> </div><div><span style="font-size:16px"><span style="font-family:'arial' , 'helvetica' , sans-serif">6) Trading behavior carried out with dishonest intent: Where MEXC reasonably determines that there may be suspected or actual market manipulation and/or market abuse, including but not limited to the following:</span></span></div><ul style="list-style-type:disc" start="1"><li style="text-align:left"><div><span style="font-size:16px"><span style="font-family:'arial' , 'helvetica' , sans-serif">Conducting trades at executable prices that significantly deviate from current market prices to secure unfair profit.</span></span></div></li><li style="text-align:left"><div><span style="font-size:16px"><span style="font-family:'arial' , 'helvetica' , sans-serif">Deliberately influencing market prices or market depth by other means for the purpose of manipulation.</span></span></div></li><li style="text-align:left"><div><span style="font-size:16px"><span style="font-family:'arial' , 'helvetica' , sans-serif">Exploiting MEXC's pricing mechanisms or other system vulnerabilities for improper gain.</span></span></div></li><li style="text-align:left"><div><span style="font-size:16px"><span style="font-family:'arial' , 'helvetica' , sans-serif">Engaging in abnormal wash trading to create a false appearance of market activity or distort market behavior for improper gain.</span></span></div></li></ul><div> </div><div><span style="font-size:16px"><span style="font-family:'arial' , 'helvetica' , sans-serif">7) Coordinated multi-account activity: Where two or more accounts are under common control or highly related, and by synchronizing or coordinating their trading behavior, may constitute market manipulation or abuse. In such cases, MEXC may assess and handle the activity collectively based on comprehensive evidence.</span></span></div><div> </div><div><span style="font-size:16px"><span style="font-family:'arial' , 'helvetica' , sans-serif">8) Any other circumstances as determined by MEXC.</span></span></div><div> </div><h2><span style="font-family:'arial' , 'helvetica' , sans-serif"><strong style="font-weight:bolder">3. Handling of Abnormal Trading Behavior</strong></span></h2><div> </div><div><span style="font-size:16px"><span style="font-family:'arial' , 'helvetica' , sans-serif">To safeguard the integrity of trading on MEXC, if a user engages in any of the abnormal trading behaviors listed above, MEXC may, without prior notice, take the following measures against the account:</span></span></div><div style="text-align:left"><span style="font-size:16px"><span style="font-family:'arial' , 'helvetica' , sans-serif">1) Require the user to provide a report on their trading activity.</span></span></div><div style="text-align:left"><span style="font-size:16px"><span style="font-family:'arial' , 'helvetica' , sans-serif">2) Restrict, suspend, or terminate the user’s access to the </span></span><a href="https://www.mexc.com/"><span style="font-size:16px"><span style="font-family:'arial' , 'helvetica' , sans-serif">MEXC website</span></span></a><span style="font-size:16px"><span style="font-family:'arial' , 'helvetica' , sans-serif">.</span></span></div><div style="text-align:left"><span style="font-size:16px"><span style="font-family:'arial' , 'helvetica' , sans-serif">3) Restrict opening new positions, impose deadlines for position closures, or enforce liquidation.</span></span></div><div style="text-align:left"><span style="font-size:16px"><span style="font-family:'arial' , 'helvetica' , sans-serif">4) Restrict deposits and withdrawals for the account.</span></span></div><div style="text-align:left"><span style="font-size:16px"><span style="font-family:'arial' , 'helvetica' , sans-serif">5) Close the account and confiscate any remaining assets.</span></span></div><div style="text-align:left"><span style="font-size:16px"><span style="font-family:'arial' , 'helvetica' , sans-serif">6) Take any other measures permitted under the exchange's business rules.</span></span></div><div> </div><h2><span style="font-family:'arial' , 'helvetica' , sans-serif"><strong style="font-weight:bolder">4. Disclaimer of Liability</strong></span></h2><div> </div><div><span style="font-size:16px"><span style="font-family:'arial' , 'helvetica' , sans-serif">Users participating in trading on MEXC must comply with applicable laws, regulations, and the business rules of the exchange, and are subject to MEXC's oversight and monitoring of the legitimacy of their trading activities. Users are expected to regulate their own trading behavior accordingly.</span></span></div><div> </div><div><span style="font-size:16px"><span style="font-family:'arial' , 'helvetica' , sans-serif">MEXC reserves the right to pursue any fair and legally permissible remedies in response to abnormal trading behavior, including but not limited to restricting all trading activities of abnormal trading accounts. MEXC shall bear no liability for any economic losses arising from suspected violations of these rules.</span></span></div><div> </div></div>
FAQ on Guaranteed Stop-Loss
<div data-page-id="Gm6AdwhTgouGs1xthG4uFQXesiK" data-lark-html-role="root" data-docx-has-block-data="false"><h2 class="heading-2 ace-line old-record-id-doxusr7rJpZ4hTU3lIz39ea1EOe"><strong>1. What is guaranteed stop-loss?</strong></h2><div class="ace-line ace-line old-record-id-doxusxv8EM4LrYWTuXIYoVDFTvg"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-RsNSdvLlNoObxbxBRKOuqJ8fsZf"><span style="font-size: 16px;">Guaranteed Stop Loss (GSL) is a paid risk management feature designed to help traders handle extreme market volatility. When you place a Guaranteed SL order, your stop-loss is guaranteed to execute at the trigger price you specify. This helps cap maximum losses and effectively eliminates slippage risk.</span></div><div class="ace-line ace-line old-record-id-doxussw9uNfT19JldDKXuMU5Lef"><span style="font-size: 16px;"><br></span></div><h2 class="heading-2 ace-line old-record-id-B4ntdzujdoJQt1xKd4xuYcugsDb"><strong>2. What is the difference between guaranteed stop-loss and a regular stop loss?</strong></h2><div class="ace-line ace-line old-record-id-DIJZdVqTroxs2SxCOfhu7J58sTb"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-Y0ybd53A4oEJKBx443RuaHDGsDh"><span style="font-size: 16px;">Understanding the difference between guaranteed SL and regular stop loss orders is essential for effective risk management. A regular stop-loss is typically executed at market price once triggered. During periods of high volatility, significant slippage may occur, causing the final fill price to deviate from your intended stop price. A guaranteed SL ensures execution at the specified trigger price regardless of market conditions, providing a more stable and predictable exit.</span></div><div class="ace-line ace-line old-record-id-doxusfgfG75axujRtCxM6fYrgQd"><span style="font-size: 16px;"><br></span></div><h2 class="heading-2 ace-line old-record-id-NuqhdnBgYo9uAcxCPb7udxJ3suh"><strong>3. Which trading pairs support guaranteed SL?</strong></h2><div class="ace-line ace-line old-record-id-doxus1snvt30Oabs1iMnccOMqtc"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-PyUldi95tobGeNxM2cyuqGSXsmh"><span style="font-size: 16px;">Guaranteed SL is only available for selected trading pairs. Refer to the actual display on the trading or order placement page to confirm whether a specific pair supports guaranteed SL.</span></div><div class="ace-line ace-line old-record-id-doxusjY5ptThQmCrEIdCwv6RSud"><span style="font-size: 16px;"><br></span></div><h2 class="heading-2 ace-line old-record-id-CznZdLnauoxf91x2nCzuvGiBsVb"><strong>4. Which trigger price types are supported by guaranteed SL?</strong></h2><div class="ace-line ace-line old-record-id-doxus17vMF6pQYbO5fbXyHf1p7b"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-YaA6dVMMootpYvxO88Zuk1UCsRb"><span style="font-size: 16px;">Guaranteed SL only supports the last price as the trigger price. Triggering based on fair price, mark price, or index price is not supported.</span></div><div class="ace-line ace-line old-record-id-doxusIHcTHQK9miplmDmBRyTAtg"><span style="font-size: 16px;"><br></span></div><h2 class="heading-2 ace-line old-record-id-WW7wdVogxobL4mxtyZZunykTsCe"><strong>5. Is there a fee for using guaranteed stop-loss?</strong></h2><div class="ace-line ace-line old-record-id-We2ZdwnwEoyNUuxGh9GuTx4NsXe"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-AwZNdy3kFoSCnfxh9ixuOwmDs2b"><span style="font-size: 16px;">Yes. Using guaranteed stop-loss incurs an additional fee. Fees are set per trading pair, and the applicable rate is shown on the trading page.</span></div><div class="ace-line ace-line old-record-id-doxusSBEwOh3vAS5lkN8IZ0j1jb"><span style="font-size: 16px;"><br></span></div><h2 class="heading-2 ace-line old-record-id-SpQydx40pooJxyx7ltEubqI6sHg"><strong>6. When is the guaranteed stop-loss fee charged?</strong></h2><div class="ace-line ace-line old-record-id-doxus4XabZ7Njud6wIckBCIj71e"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-OPvQdseWGoLGYhxdNnJu00ErsMb"><span style="font-size: 16px;">The fee is charged only when the order is triggered and successfully filled:</span></div><ul start="1" class="list-bullet1"><li style="text-align:left" class="ace-line ace-line old-record-id-ZOsvdNKwuomhxhxfjBnuOYQJsQb" data-list="bullet"><div><span style="font-size: 16px;">Not triggered: no fee</span></div></li><li style="text-align:left" class="ace-line ace-line old-record-id-WnhAd3pDCo9Ai4xn02guGuHGscb" data-list="bullet"><div><span style="font-size: 16px;">Triggered but not executed: no fee</span></div></li><li style="text-align:left" class="ace-line ace-line old-record-id-ZzkJd7hrRoRQhqx1wl2u1BA3swh" data-list="bullet"><div><span style="font-size: 16px;">Triggered and filled: fee charged</span></div></li></ul><div class="ace-line ace-line old-record-id-doxusz4jDE7MG8HgK3qT8mPVYBb"><span style="font-size: 16px;"><br></span></div><h2 class="heading-2 ace-line old-record-id-Wq1udBA0mo2vv6xPjptu3zpjswd"><strong>7. How is the fee calculated?</strong></h2><div class="ace-line ace-line old-record-id-doxus3M3r9ZGI78nuLQlCTaOXjd"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-WS6ZdRtpYoZ6coxBFmfu5yEYsWg"><span style="font-size: 16px;">The fee rate varies by trading pair and is generally calculated based on the notional value of the filled stop loss order. Example:</span></div><ul start="1" class="list-bullet1"><li style="text-align:left" class="ace-line ace-line old-record-id-KJjxdq1uEoPnfYxh2RtuonoYsPc" data-list="bullet"><div><span style="font-size: 16px;">GSL fee = Filled notional value × GSL fee rate</span></div></li><li style="text-align:left" class="ace-line ace-line old-record-id-GRetdbndko5Nmbxqu3zu8yo1swb" data-list="bullet"><div><span style="font-size: 16px;">Notional value (USDT-M example) = Filled quantity × fill price</span></div></li></ul><div class="ace-line ace-line old-record-id-CuuRdUpXfouRkpxfyEIuCuuBssc"><span style="font-size: 16px;">Note: Refer to the trading page for the exact fee rate.</span></div><div class="ace-line ace-line old-record-id-doxusu7U2GsrRRsuM2hhfMnBZ3f"><span style="font-size: 16px;"><br></span></div><h2 class="heading-2 ace-line old-record-id-DV35dKIx5oPjQ3xrbzxuWgq4sZd"><strong>8. Does guaranteed stop-loss guarantee execution?</strong></h2><div class="ace-line ace-line old-record-id-doxusgAsYZhY9H1O4aXmy4ZQLjb"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-HcrUdBI0poptsZxeEoxuykYPsvb"><span style="font-size: 16px;">Guaranteed SL is designed to execute when trigger conditions are met, but it does not guarantee that triggering or execution will always succeed. In extreme market conditions, system congestion, or other exceptional circumstances, trigger delays, trigger failure, or non-execution may occur. If a guaranteed stop-loss order is not triggered or not executed, no fee will be charged.</span></div><div class="ace-line ace-line old-record-id-doxusz8lEFBgMwVGSQcv9Qs1Mmh"><span style="font-size: 16px;"><br></span></div><h2 class="heading-2 ace-line old-record-id-BBQ0ds78Lof0RLxBAj6uqZ6ysqe"><strong>9. Can I modify or cancel a guaranteed stop-loss order?</strong></h2><div class="ace-line ace-line old-record-id-doxusGMqsaFHlZF9VEQ7zMPByCf"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-LF6vdLIS9oOESvxAEiFuZmIFs0c"><span style="font-size: 16px;">Yes. You can modify or cancel a guaranteed stop-loss through the TP/SL settings in your order or position. Any changes will take effect immediately based on the latest settings.</span></div><div class="ace-line ace-line old-record-id-doxushl4i6LuGcUA8vJbD5kuK0g"><span style="font-size: 16px;"><br></span></div><h2 class="heading-2 ace-line old-record-id-E1DMdfOFtotai5xd9YcuuoNGs4g"><strong>10. Why can't I see the Guaranteed Stop Loss option?</strong></h2><div class="ace-line ace-line old-record-id-doxusejemrkhLuGEITvVGV7WGne"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-KZF0di1KloknQPxoR23uLp0lsie"><span style="font-size: 16px;">If the guaranteed SL option is not visible, possible reasons include:</span></div><ul start="1" class="list-bullet1"><li style="text-align:left" class="ace-line ace-line old-record-id-Gyeod7kYLoxE4Rxxj64u66HosAd" data-list="bullet"><div><span style="font-size: 16px;">The current trading pair does not support guaranteed stop-loss</span></div></li><li style="text-align:left" class="ace-line ace-line old-record-id-GdgmdYFQEo9XSrxd2eduyS66sOd" data-list="bullet"><div><span style="font-size: 16px;">The feature is unavailable for certain regions, account types, or risk levels. Please refer to on-page notices for applicable restrictions</span></div></li></ul><div class="ace-line ace-line old-record-id-doxuskN6HJaQ3fSeS8AU55X2Ohf"><span style="font-size: 16px;"><br></span></div><h3 class="heading-3 ace-line old-record-id-CPpKd8WktogxQ1xxBjduMJkpshg"><span style="font-size: 16px;">Recommended Reading:</span></h3><ul start="1" class="list-bullet1"><li class="ace-line ace-line old-record-id-AGvNdgRmmoWWYsxxUTTuKUcWszh" data-list="bullet"><div><a data-lark-is-custom="true" href="https://www.mexc.com/learn/article/17827791534161" style="font-size: 16px;">What Is a MEXC Futures Guaranteed Stop-Loss Order</a></div></li><li class="ace-line ace-line old-record-id-CoGLdJtdso7dZOxvtcxuSGyXs2b" data-list="bullet"><div><a href="https://www.mexc.com/support/article/how-to-trade-futures-on-the-mexc-app-305421274812529664" data-lark-is-custom="true" style="font-size: 16px;">How to Trade Futures on the MEXC App </a></div></li><li class="ace-line ace-line old-record-id-C1TsdJlGjoQeamx0vF9u5QnSsbd" data-list="bullet"><div><a href="https://www.mexc.com/support/article/how-to-trade-futures-on-mexc-web-305423980641926144" data-lark-is-custom="true" style="font-size: 16px;">How to Trade Futures on MEXC Web </a></div></li><li class="ace-line ace-line old-record-id-RlBbdAUdRoSEsHxSkH5uATTyske" data-list="bullet"><div><a href="https://www.mexc.com/support/article/futures-trading-faq-305425827477864448" data-lark-is-custom="true" style="font-size: 16px;">Futures Trading FAQ: A Complete Beginner's Guide </a></div></li><li class="ace-line ace-line old-record-id-IwEAdvjj8oZGTtxDXlKuHCatsag" data-list="bullet"><div><a href="https://www.mexc.com/support/article/mexc-futures-market-order-faqs-318921954751756288" data-lark-is-custom="true" style="font-size: 16px;">MEXC Futures Market Order FAQ </a></div></li></ul><div class="ace-line ace-line old-record-id-doxusbVMcz9yQUj6zKkRBfo1xYe"><span style="font-size: 16px;"><br></span></div></div>
MEXC Margin Calculation Guide: Initial Margin, Maintenance Margin, and Liquidation Price Explained
<div data-page-id="WtS7dEFKao201yxRR98uLmQUs9e" data-lark-html-role="root" data-docx-has-block-data="false"><div class="ace-line ace-line old-record-id-doxusMOi7BRX3QnmNCX3IuxXhqc"><span style="font-size: 16px;">In MEXC Futures trading, <strong>margin</strong> is a core concept that every trader must understand. Whether you are new to Futures trading or an experienced user looking to better understand margin calculations, this guide explains MEXC's margin formulas, liquidation mechanism, and how to manage position risk effectively.</span></div><div class="ace-line ace-line old-record-id-doxusE3Vw8oDYm7UyfPLyg2CtWh"><span style="font-size: 16px;"><br></span></div><h2 class="heading-2 ace-line old-record-id-UyP1drZuoo1CS0x7HdjuWlF3sZc"><strong>1. Position Value: The Basis of Margin Calculation</strong></h2><div class="ace-line ace-line old-record-id-EbUydaWeNoUHYpx4wGIur9yIsEe"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-KXzOdwXEkolVijxhc1JuPpdisCf"><span style="font-size: 16px;">Position value is the fundamental data used to calculate all margin requirements. In MEXC Futures trading, opening any position requires margin, and the position value determines how much capital is needed.</span></div><ul start="1" class="list-bullet1"><li class="ace-line ace-line old-record-id-J8ymdU9qxoFTuYxOd1Nuzdscs4e" data-list="bullet"><div><span style="font-size: 16px;"><strong>USDT-margined </strong><strong>position value</strong><strong> = Fill price × Contract size × </strong><strong>Position size</strong></span></div></li><li class="ace-line ace-line old-record-id-DB11dGl8UoDb10xVIrWuB4c8sYI" data-list="bullet"><div><span style="font-size: 16px;"><strong>Coin-margined </strong><strong>position value</strong><strong> = </strong><strong>Position size</strong><strong> × Contract value </strong><strong>/</strong><strong> Price</strong></span></div></li></ul><div class="ace-line ace-line old-record-id-J83ydWLHQozv8ixDnyZueTbTsDc"><span style="font-size: 16px;"><br></span></div><div style="white-space:pre;" class="ace-line ace-line old-record-id-GkXxdKKgeoZYIYxtZZ5uJ6aOsXb"><span style="font-size: 16px;"><strong>Example:</strong>
Suppose you buy <strong>100 </strong><strong>BTCUSDT</strong><strong> perpetual contracts</strong> at a price of <strong>50,000 USDT</strong>, each with a contract size of <strong>0.0001 BTC</strong>.</span></div><div class="ace-line ace-line old-record-id-TMfndhCDcoYDKuxXAKquzQofsjg"><span style="font-size: 16px;">Position value = 50,000 × 0.0001 × 100 = <strong>500 USDT</strong></span></div><div class="ace-line ace-line old-record-id-ZNhvdSWNBoeroTxWXrhuRaQOs9g"><span style="font-size: 16px;"><br></span></div><h2 class="heading-2 ace-line old-record-id-Fle1dflQ1onq8pxv6COuRhV7sic"><strong>2. Initial Margin: Funds Required to Open a Position</strong></h2><div class="ace-line ace-line old-record-id-L2L8doghJo5uMoxKscuuPfxcs8e"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-ZkxXdixyCo2J7Wx9O8BuvEbCsFf"><span style="font-size: 16px;">Initial margin is the minimum amount of funds required to open a position. The initial margin rate directly reflects the leverage you use. The higher the leverage, the lower the required initial margin.</span></div><ul start="1" class="list-bullet1"><li class="ace-line ace-line old-record-id-OUrEdeeMLoDLf4xLUf7uGROrsfb" data-list="bullet"><div><span style="font-size: 16px;"><strong>Initial margin rate</strong><strong> = Position margin / </strong><strong>Position value</strong></span></div></li><li class="ace-line ace-line old-record-id-OwZcdvlmLoqOI3x508Iu9ojJsyc" data-list="bullet"><div><span style="font-size: 16px;"><strong>USDT-margined </strong><strong>initial margin</strong><strong> = Average fill price × </strong><strong>Position size</strong><strong> × Contract size / </strong><strong>Leverage</strong></span></div></li><li class="ace-line ace-line old-record-id-AHcAdjdRtoDFljxlkrSuHQlasxc" data-list="bullet"><div><span style="font-size: 16px;"><strong>Coin-margined </strong><strong>initial margin</strong><strong> = </strong><strong>Position size</strong><strong> × Contract value / (Average fill price × </strong><strong>Leverage</strong><strong>)</strong></span></div></li></ul><div class="ace-line ace-line old-record-id-UNgrd3viDoFayFxnPCduOGjqsC9"><span style="font-size: 16px;"><br></span></div><div style="white-space:pre;" class="ace-line ace-line old-record-id-A2EMdXKXnorbu8xY9LbuLzf9sCg"><span style="font-size: 16px;"><strong>Example:</strong>
You open a BTCUSDT position at <strong>50,000 USDT</strong>, with a position value of <strong>500 USDT</strong>, using <strong>10× </strong><strong>leverage</strong>.</span></div><div class="ace-line ace-line old-record-id-VarxdJXS0oyV1lxGG4Quuu5Ssch"><span style="font-size: 16px;">Initial margin = 500 / 10 = <strong>50 USDT</strong></span></div><div class="ace-line ace-line old-record-id-LzUpdC1dPoLdQwxKrvyullbAsbf"><span style="font-size: 16px;">This means you only need to commit <strong>50 USDT</strong> to control a position worth <strong>500 USDT</strong>.</span></div><div class="ace-line ace-line old-record-id-doxushQN66HO867Uy65bfe7SEnf"><span style="font-size: 16px;"><br></span></div><h2 class="heading-2 ace-line old-record-id-YFtXdLziZoi152xrNy2uT03Ws1e"><strong>3. Maintenance Margin: Minimum Requirement to Avoid Liquidation</strong></h2><div class="ace-line ace-line old-record-id-SVXndautjoXfSWxOLsSurAsps1g"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-H1YjdY94koail2xF21FuUXE0sWg"><span style="font-size: 16px;">Maintenance margin is the minimum amount of margin required to keep a position open.</span></div><div class="ace-line ace-line old-record-id-ThOCdGOJDo8qCMxNOctuUvbHsQe"><span style="font-size: 16px;">If your account margin falls below the maintenance margin level, liquidation or partial liquidation will be triggered.</span></div><ul start="1" class="list-bullet1"><li class="ace-line ace-line old-record-id-EoYOd73QXoINW0xQNaFuOgzNsYN" data-list="bullet"><div><span style="font-size: 16px;"><strong>USDT-margined </strong><strong>maintenance margin</strong><strong> = Average fill price × </strong><strong>Position size</strong><strong> × Contract size × Maintenance margin rate</strong></span></div></li><li class="ace-line ace-line old-record-id-PGdUd7p4BoH8e2xoP6Cu1hxesrf" data-list="bullet"><div><span style="font-size: 16px;"><strong>Coin-margined </strong><strong>maintenance margin</strong><strong> = Contract value × </strong><strong>Position size</strong><strong> / Average fill price × Maintenance margin rate</strong></span></div></li></ul><div class="ace-line ace-line old-record-id-RuMBdgA18orZLixMEwtuRdkvsEc"><span style="font-size: 16px;"><br></span></div><div style="white-space:pre;" class="ace-line ace-line old-record-id-Px3ldsQVMoIezpxCFz3u3fIBs2b"><span style="font-size: 16px;"><strong>Example</strong>
Suppose your position value is <strong>500 USDT</strong>, and the maintenance margin rate is <strong>0.5%</strong>.</span></div><div class="ace-line ace-line old-record-id-W24SdmpH2oyvsMxJtJDuFCHms3e"><span style="font-size: 16px;">Maintenance margin = 500 × 0.5% = <strong>2.5 USDT</strong></span></div><div class="ace-line ace-line old-record-id-GbvUdkSJRoEvqcxKxvuuTSkjsAb"><span style="font-size: 16px;">As long as your <strong>position margin plus unrealized </strong><strong>PNL</strong> remains above <strong>2.5 USDT</strong>, the position can be maintained.</span></div><div class="ace-line ace-line old-record-id-doxusJdvhBVALk5q2UfJqHtyind"><span style="font-size: 16px;"><br></span></div><h2 class="heading-2 ace-line old-record-id-PrwzdmfPjoW8HQxp98vuiq5gsKb"><strong>4. Margin Rate: Key Indicator of Position Risk</strong></h2><div class="ace-line ace-line old-record-id-SPrCdTAiXopdNXxaCU0usRujsVg"><span style="font-size: 16px;"><br></span></div><div style="white-space:pre;" class="ace-line ace-line old-record-id-F93sdIfFiodrtzxtdZ9ucnsTs7e"><span style="font-size: 16px;">Margin rate is the key metric used to measure position risk.
The lower the margin rate, the lower the risk. When the margin rate reaches <strong>100%</strong>, the position will be liquidated.</span></div><div class="ace-line ace-line old-record-id-H4jfdhxKbofvnpxxsuBu6ZnAs6f"><span style="font-size: 16px;"><strong>Margin rate = (</strong><strong>Maintenance margin</strong><strong> + Liquidation fee) / (Position margin + Unrealized </strong><strong>PNL</strong><strong>)</strong></span></div><div class="ace-line ace-line old-record-id-B69RdNABAopiGQx8KCeuu3RVsDc"><span style="font-size: 16px;"><br></span></div><div style="white-space:pre;" class="ace-line ace-line old-record-id-RFuFdHawKoJe6mxg96nu7eeOsSg"><span style="font-size: 16px;"><strong>Example</strong>
Your maintenance margin is <strong>2.5 USDT</strong>, liquidation fee is <strong>0.5 USDT</strong>, position margin is <strong>50 USDT</strong>, and current unrealized loss is <strong>20 USDT</strong> (unrealized PNL = −20).</span></div><div class="ace-line ace-line old-record-id-SToHdoWgpohsOQxqAaTucggDsFd"><span style="font-size: 16px;">Margin rate = (2.5 + 0.5) / (50 − 20) = 3 / 30 = <strong>10%</strong>, indicating low risk.</span></div><div class="ace-line ace-line old-record-id-TAa3d7B4ho6gy1xhvwpuYMO8sEz"><span style="font-size: 16px;">If the unrealized loss increases to <strong>47 USDT</strong>, margin rate = 3 / 3 = <strong>100%</strong>, and liquidation will be triggered.</span></div><div class="ace-line ace-line old-record-id-doxusK6IzxxaKxPgOKNi3qX8Lxc"><span style="font-size: 16px;"><br></span></div><h2 class="heading-2 ace-line old-record-id-YA9odTix5ozYO4xGE0EuBqdNsuc"><strong>5. Opening Cost: Total Funds Frozen When Opening a Position</strong></h2><div class="ace-line ace-line old-record-id-LdFidVH2Do8BbLxqgVjuWq2esii"><span style="font-size: 16px;"><br></span></div><div style="white-space:pre;" class="ace-line ace-line old-record-id-ZqSDdIpedoxwX1xBHoau4iIFsOg"><span style="font-size: 16px;">Opening cost is the total amount of assets that must be frozen when opening a position. It includes the <strong>initial margin</strong> and any <strong>applicable trading fees</strong>.
The fee depends on whether your order is executed as a <strong>Maker (limit order)</strong> or <strong>Taker (market order)</strong>.</span></div><ul start="1" class="list-bullet1"><li class="ace-line ace-line old-record-id-KISVdAhmHoLG6JxPxPZuCWnwsPe" data-list="bullet"><div><span style="font-size: 16px;"><strong>Opening cost = </strong><strong>Initial margin</strong><strong> + Estimated fee (depends on Maker / Taker execution)</strong></span></div></li><li class="ace-line ace-line old-record-id-HrO5dyq6Ro50YoxIp9DuPL5Fsfh" data-list="bullet"><div><span style="font-size: 16px;"><strong>USDT-margined Futures:</strong> Order cost = Average fill price × Order quantity × Contract size / Leverage</span></div></li><li class="ace-line ace-line old-record-id-ZSGZdqnmBoqtVmxCubhuTPGosXd" data-list="bullet"><div><span style="font-size: 16px;"><strong>Coin-margined Futures:</strong> Order cost = Order quantity × Contract value / (Leverage × Average fill price)</span></div></li></ul><div class="ace-line ace-line old-record-id-LQ7NdNPz0o5bnhxMVj7uVJonsDb"><span style="font-size: 16px;"><br></span></div><div style="white-space:pre;" class="ace-line ace-line old-record-id-EN4kd8FRNoIOfrxmvNmucOW0slg"><span style="font-size: 16px;"><strong>Example:</strong>
You open a position with a value of <strong>500 USDT</strong> using <strong>10× </strong><strong>leverage</strong>, and the taker fee rate is <strong>0.02%</strong>.</span></div><div class="ace-line ace-line old-record-id-OFzOddAIAovk1AxHLqYuHKZXsSd"><span style="font-size: 16px;">Initial margin = <strong>50 USDT</strong></span></div><div class="ace-line ace-line old-record-id-EoeOd82GvoDKi8xSnOPuHhLEsjf"><span style="font-size: 16px;">Estimated fee = 500 × 0.02% = <strong>0.1 USDT</strong></span></div><div class="ace-line ace-line old-record-id-X4yVdsEB0oJbUCxdcFWunkmGsXb"><span style="font-size: 16px;">Opening cost = 50 + 0.1 = <strong>50.1 USDT</strong></span></div><div class="ace-line ace-line old-record-id-doxusvRR5CdAxM0HfW7CJWSiF95"><span style="font-size: 16px;"><br></span></div><h2 class="heading-2 ace-line old-record-id-LLZwdMK8toIoKpxmkNruXXsTs7b"><strong>6. Position Margin: Key Data for Liquidation Decisions</strong></h2><div class="ace-line ace-line old-record-id-NLCTdrmQ3oiPILxbp8lupJKAsYg"><span style="font-size: 16px;"><br></span></div><div style="white-space:pre;" class="ace-line ace-line old-record-id-GPtvdUsiwonZ3yxEczFuVRN3spH"><span style="font-size: 16px;">Position margin is a key factor the system uses to determine whether liquidation will be triggered.
When <strong>position margin plus unrealized </strong><strong>P</strong><strong>N</strong><strong>L</strong> falls below the <strong>maintenance margin</strong>, liquidation will occur.</span></div><div class="ace-line ace-line old-record-id-ZmqVdFYgLoQyzexgIWXuQsLjs1e"><span style="font-size: 16px;"><strong>Position margin = Average fill price × </strong><strong>Position size</strong><strong> × Contract size / </strong><strong>Leverage</strong></span></div><div class="ace-line ace-line old-record-id-doxuswnGEpVYSw93eo7mOvpFoZg"><span style="font-size: 16px;"><br></span></div><h2 class="heading-2 ace-line old-record-id-doxus5JBpLzHcm87lRl9QBWekyh"><strong>7. Liquidation Price in Isolated Margin Mode: Precise Calculation of the Liquidation Level</strong></h2><div class="ace-line ace-line old-record-id-doxusN8hs9yi9nLiIgP6MYo9Ald"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-DdZSd8JpGo5Ad1xbo6suiPg1sTd"><span style="font-size: 16px;">In <strong>isolated margin mode</strong>, the margin of each position is independent. If the margin of a specific position plus its unrealized PNL falls below the maintenance margin, that position will be liquidated.</span></div><ul start="1" class="list-bullet1"><li style="white-space:pre;" class="ace-line ace-line old-record-id-ZLnidDE83ohKijxnQXZuLz4Msfg" data-list="bullet"><div><span style="font-size: 16px;"><strong>Liquidation condition:</strong>
Position margin + Unrealized PNL ≤ Maintenance margin</span></div></li><li style="white-space:pre;" class="ace-line ace-line old-record-id-LV7sdVI92ogqH8x13ZwusPKKswe" data-list="bullet"><div><span style="font-size: 16px;"><strong>Long position </strong><strong>liquidation price</strong>
= (Maintenance margin − Position margin + Average fill price × Position size × Contract size) / (Quantity × Contract size)</span></div></li><li style="white-space:pre;" class="ace-line ace-line old-record-id-FuE0dWL9GodFYYxJb06ucVsuspf" data-list="bullet"><div><span style="font-size: 16px;"><strong>Short position </strong><strong>liquidation price</strong>
= (Average fill price × Position size × Contract size − Maintenance margin + Position margin) / (Quantity × Contract size)</span></div></li></ul><div class="ace-line ace-line old-record-id-Cvwid6NIPoZf1Vxv8mHuG7zFsfd"><span style="font-size: 16px;"><br></span></div><div style="white-space:pre;" class="ace-line ace-line old-record-id-LnEzdaTRUopCGzxNNIdu5yLDsge"><span style="font-size: 16px;"><strong>Example</strong>
You open a <strong>BTC long position</strong> at <strong>50,000 USDT</strong>, with a position value of <strong>500 USDT</strong>, using <strong>10× </strong><strong>leverage</strong> (position margin = <strong>50 USDT</strong>). </span></div><div class="ace-line ace-line old-record-id-X0tDd0Nzroz0R3xQK2EuEz26sbc"><span style="font-size: 16px;">Maintenance margin = <strong>2.5 USDT</strong></span></div><div class="ace-line ace-line old-record-id-GZIhdVqaEoxjgfx3Z6tuczPWsyh"><span style="font-size: 16px;">Quantity × Contract size = <strong>0.01 BTC</strong></span></div><div class="ace-line ace-line old-record-id-VVYRdQkUboW7KnxfPKluGSNysyb"><span style="font-size: 16px;">Long liquidation price = (2.5 − 50 + 500) / 0.01 = 452.5 / 0.01 = <strong>45,250 USDT</strong></span></div><div class="ace-line ace-line old-record-id-IovCd9Iylon0iCxLWKEu2moEskc"><span style="font-size: 16px;">This means your long position will be liquidated if BTC falls to approximately <strong>45,250 USDT</strong>.</span></div><div class="ace-line ace-line old-record-id-doxuscippckLObHTxhqfQcgbWMW"><span style="font-size: 16px;"><br></span></div><h2 class="heading-2 ace-line old-record-id-doxusejeGTZ6U7JltjXk7nNKp0c"><strong>8. Cross Margin Mode: Margin Calculation and Differences from Isolated Mode</strong></h2><div class="ace-line ace-line old-record-id-doxusMFtpjmnE6vl2T4k410tmDc"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-IbgwdyDzFo61RHxQYGIu59atsNh"><span style="font-size: 16px;">In <strong>cross margin mode</strong>, the system uses <strong>all available margins in your account</strong> as position margins to reduce the risk of liquidation. However, if one position incurs losses and reduces the available balance, those funds are not immediately reallocated as margin for other cross-margin positions.</span></div><div class="ace-line ace-line old-record-id-MTL1dKsKIozs3Lxio4Xus08Ssjb"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-PVModpl3FoNJO6xRe7Yu63vAsZg"><strong style="font-size: 16px;">Key characteristics of cross margin mode:</strong></div><ul start="1" class="list-bullet1"><li class="ace-line ace-line old-record-id-OFTqdTkGhol9tBxwEfDuNkB3s3d" data-list="bullet"><div><span style="font-size: 16px;">All available funds share the risk across positions</span></div></li><li class="ace-line ace-line old-record-id-CdxPdjbY3oogEwxWLFHu5EtKs7f" data-list="bullet"><div><span style="font-size: 16px;">Suitable for traders with strong confidence in their market outlook</span></div></li><li class="ace-line ace-line old-record-id-CFpBdmVqYo1bFqxz8JLuxDKGshh" data-list="bullet"><div><span style="font-size: 16px;">If liquidation occurs, losses may affect all available funds in the account</span></div></li></ul><div class="ace-line ace-line old-record-id-YUSyd66hNo2yVBxxusKuO9tus2e"><span style="font-size: 16px;"><br></span></div><h2 class="heading-2 ace-line old-record-id-LDL5dIjlyoZynYxWpTBujHkOsMc"><strong>9. Auto-Margin Addition: The Last Line of Defense for Your Position</strong></h2><div class="ace-line ace-line old-record-id-HgLXdFEjkoogmNxXyeaukK5Asch"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-VpHXdLNxRoDC8Hxk434uS3ZmsEc"><span style="font-size: 16px;">The auto-margin addition feature automatically transfers funds from your available balance to your position margin when the position approaches liquidation. This helps protect your position and avoid forced liquidation. It serves as the final line of defense for maintaining a position.</span></div><div class="ace-line ace-line old-record-id-WfOTdSMvYoBZxAxMzjeufPmMsbd"><span style="font-size: 16px;"><br></span></div><ul start="1" class="list-bullet1"><li style="white-space:pre;" class="ace-line ace-line old-record-id-SPjbdpet4oLBDMxAs5WuSMctsSg" data-list="bullet"><div><span style="font-size: 16px;"><strong>USDT-margined Futures:</strong>
Margin added per addition
= Average fill price × Contract size × Position size × Maintenance margin rate</span></div></li><li style="white-space:pre;" class="ace-line ace-line old-record-id-FokMd3CHCo6YKlxRzIaubEpksRd" data-list="bullet"><div><span style="font-size: 16px;"><strong>Coin-margined Futures:</strong>
Margin added per addition
= Contract value × Position size × Maintenance margin rate / Average fill price</span></div></li></ul><div class="ace-line ace-line old-record-id-G2VVdqucro9AiNxEuQLuz7DQsse"><span style="font-size: 16px;"><br></span></div><div style="white-space:pre;" class="ace-line ace-line old-record-id-CVnwd0LTHoSr3sxmVxsuCnwgsLf"><span style="font-size: 16px;"><strong>Example:</strong>
You hold a BTCUSDT long position with an average fill price of <strong>50,000 USDT</strong>, a position value of <strong>500 USDT</strong>, and a maintenance margin rate of <strong>0.5%</strong>. When auto-margin addition is triggered, the system adds <strong>500 × 0.5% = 2.5 USDT</strong> each time.</span></div><div class="ace-line ace-line old-record-id-doxusTitlwFOOBtzZ9xOB4aDc2f"><span style="font-size: 16px;"><br></span></div><h2 class="heading-2 ace-line old-record-id-doxusvL3BCKKpcLi2pTL0gspS0h"><strong>10. Margin FAQs</strong></h2><div class="ace-line ace-line old-record-id-doxusB8ZyTqLBq52Ndzc2bb6jr8"><span style="font-size: 16px;"><br></span></div><h3 class="heading-3 ace-line old-record-id-MeZhdBv7uo7uJnx8JJquKXJJsdx"><span style="font-size: 16px;"><strong>10.1 What happens if </strong>the <strong>margin is insufficient?</strong></span></h3><div class="ace-line ace-line old-record-id-UGhZdQv89oGq5ixDwyBubTFGsXc"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-KVpXdK0H2ovP33xOpPAu2loosHf"><span style="font-size: 16px;">When your <strong>position margin plus unrealized </strong><strong>PNL</strong> falls below the maintenance margin requirement, the system will trigger forced liquidation. In isolated margin mode, only that position is liquidated. In cross-margin mode, liquidation may affect all positions.</span></div><div class="ace-line ace-line old-record-id-PSEvd9zaToZzOexNragupUf1sLb"><span style="font-size: 16px;"><br></span></div><div style="white-space:pre;" class="ace-line ace-line old-record-id-F9QLdA1exoyzGoxW48iuz6OzsFI"><span style="font-size: 16px;"><strong>Example:</strong>
You open a long position with a <strong>50 USDT margin</strong>, and the maintenance margin is <strong>2.5 USDT</strong>. If market losses reach <strong>47.5 USDT</strong>, then:</span></div><ul start="1" class="list-bullet1"><li class="ace-line ace-line old-record-id-SgGUdinsSozofkxGpvPuAHHbsIh" data-list="bullet"><div><span style="font-size: 16px;">Position margin + Unrealized PNL = 50 − 47.5 = <strong>2.5 USDT</strong></span></div></li></ul><div class="ace-line ace-line old-record-id-QT3Gd7LMOot8VyxBZM9usN4TsVl"><span style="font-size: 16px;">This equals the maintenance margin, and liquidation is triggered.</span></div><div class="ace-line ace-line old-record-id-doxusXTtWoAr8h4bd6L8On6nGuy"><span style="font-size: 16px;"><br></span></div><h3 class="heading-3 ace-line old-record-id-WETgdd2Weo57SSxyMkouO90Kszh"><span style="font-size: 16px;"><strong>10.2 How can I reduce margin </strong><strong>rate</strong><strong> and lower liquidation risk?</strong></span></h3><div class="ace-line ace-line old-record-id-W1OCdHtAmonYZJxRfHOukZ0Ssme"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-Bl3adbG0lo9a0ZxoXI3uKSDuseh"><span style="font-size: 16px;">You can reduce risk by:</span></div><ul start="1" class="list-bullet1"><li class="ace-line ace-line old-record-id-GT3YdLsyfolbuFxKECiuh8HksyB" data-list="bullet"><div><span style="font-size: 16px;">Manually adding margin</span></div></li><li class="ace-line ace-line old-record-id-ZWz4dv0Cco2Ry2x8Dmqu35chsgf" data-list="bullet"><div><span style="font-size: 16px;">Reducing leverage</span></div></li><li class="ace-line ace-line old-record-id-V566dIxXCoiPJExR5Mpur7cbsFg" data-list="bullet"><div><span style="font-size: 16px;">Partially closing the position to reduce size</span></div></li><li class="ace-line ace-line old-record-id-GAEQd62aCoDbp1xI7cUuNE3hsKf" data-list="bullet"><div><span style="font-size: 16px;">Enabling auto-margin addition</span></div></li></ul><div class="ace-line ace-line old-record-id-HUkddMd2noLWaWxZW7FujyRRsze"><span style="font-size: 16px;"><br></span></div><div style="white-space:pre;" class="ace-line ace-line old-record-id-JfOld29TkoLk7LxStwvuBT2Nszg"><span style="font-size: 16px;"><strong>Example</strong>
If your margin rate is <strong>80%</strong> (close to liquidation), adding <strong>20 USDT</strong> margin may reduce the margin rate to about <strong>50%</strong>, significantly lowering liquidation risk.</span></div><div class="ace-line ace-line old-record-id-doxusjluo7n1hT0Pu2IXib6J1th"><span style="font-size: 16px;"><br></span></div><h3 class="heading-3 ace-line old-record-id-Uo1Nd51axoBpSyxLZIUuXnY6suh"><strong style="font-size: 16px;">10.3 How do I choose between isolated margin and cross margin?</strong></h3><div class="ace-line ace-line old-record-id-EwLndlV72oiSHOxZlR3u6LtKsjb"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-LDD4dVv61ojAHjxbPNDueHqes5d"><span style="font-size: 16px;"><strong>Isolated margin mode</strong> is suitable for traders who want to isolate risk. Each position is calculated independently, and liquidation of one position does not affect others.</span></div><div class="ace-line ace-line old-record-id-IvDtdHNX7ocvtWx1ZCoudaqXsSh"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-KayGdpjJmo50Bcx4goGuFTszs3D"><span style="font-size: 16px;"><strong>Cross margin mode</strong> is suitable for traders who want stronger risk resistance. All available funds share risk across positions, but losses can be larger if liquidation occurs.</span></div><div class="ace-line ace-line old-record-id-SUZydhtxOoj9UBxcqYruBDBSsJh"><span style="font-size: 16px;"><br></span></div><div style="white-space:pre;" class="ace-line ace-line old-record-id-IPUDdUxOyoyZCXxbvOMuSaJEsLR"><span style="font-size: 16px;"><strong>Example</strong>
Your account has <strong>1,000 USDT</strong>, and you open two positions (A and B), each using a <strong>100 USDT margin</strong>.</span></div><ul start="1" class="list-bullet1"><li class="ace-line ace-line old-record-id-ZGgEd3Ki5oALBdx45s5uXLzusAe" data-list="bullet"><div><span style="font-size: 16px;">In <strong>isolated margin </strong><strong>mode</strong>, if position A is liquidated, the maximum loss is <strong>100 USDT</strong>. Position B and the remaining <strong>800 USDT</strong> are unaffected.</span></div></li><li class="ace-line ace-line old-record-id-M88jdPIv6oJFHzxSBVYugPAesPe" data-list="bullet"><div><span style="font-size: 16px;">In <strong>cross margin mode</strong>, if position A continues to lose, the system may use the remaining <strong>800 USDT</strong> to maintain the position. In extreme cases, the entire <strong>1,000 USDT</strong> may be lost.</span></div></li></ul><div class="ace-line ace-line old-record-id-doxusJ4kfwAEb5C2yYrMKnTjiuh"><span style="font-size: 16px;"><br></span></div><h3 class="heading-3 ace-line old-record-id-BitEdavMMo94byxDRsLueH4GsVd"><strong style="font-size: 16px;">10.4 Can margin be withdrawn at any time?</strong></h3><div class="ace-line ace-line old-record-id-XH8OdQjuJotAbgx2ctVuAPYVsgc"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-JfgvdvBOcotEEYxCIv8uJ9VVs5b"><span style="font-size: 16px;">Available margin that is not being used by positions can be withdrawn at any time. Position margin currently in use can only be released after the position is closed.</span></div><div class="ace-line ace-line old-record-id-C13vdQDsPoiFAkxyoU2uhUCls4g"><span style="font-size: 16px;"><br></span></div><div style="white-space:pre;" class="ace-line ace-line old-record-id-SqLedR6FIoyoQHxq73SugDEGsMc"><span style="font-size: 16px;"><strong>Example</strong>
Your account balance is <strong>500 USDT</strong>, of which <strong>100 USDT</strong> is used as position margin and <strong>400 USDT</strong> is available balance. You can withdraw up to <strong>400 USDT</strong>. The remaining <strong>100 USDT</strong> can only be withdrawn after the position is closed.</span></div><div class="ace-line ace-line old-record-id-doxuswIcEVVbQiHqApaZbSld05d"><span style="font-size: 16px;"><br></span></div><h3 class="heading-3 ace-line old-record-id-ChOfd2uCOo2HPzxiZrRuW9elsib"><span style="font-size: 16px;">Recommended Readings:</span></h3><ul start="1" class="list-bullet1"><li class="ace-line ace-line old-record-id-HUISd8irGoUBCrxA5QbuatPhsVe" data-list="bullet"><div><span style="font-size: 16px;"><a href="https://www.mexc.com/support/article/mexc-futures-calculation-guide-312060306409668608">MEXC Futures Calculation Guide: Fees, Unrealized PNL, and Closing Profit Explained</a></span></div></li><li class="ace-line ace-line old-record-id-AkOSdXKZNolrHExDqpOutuqJsNh" data-list="bullet"><div><a href="https://www.mexc.com/support/article/how-to-trade-futures-on-the-mexc-app-305421274812529664" data-lark-is-custom="true" style="font-size: 16px;">How to Trade Futures on the MEXC App</a></div></li><li class="ace-line ace-line old-record-id-Swq2djYgFozM8PxjQHEuYeCqs8v" data-list="bullet"><div><a href="https://www.mexc.com/support/article/how-to-trade-futures-on-mexc-web-305423980641926144" data-lark-is-custom="true" style="font-size: 16px;">How to Trade Futures on MEXC Web</a></div></li><li class="ace-line ace-line old-record-id-Lyv0dX5YKoAvHsxdAbfuUNLOsWh" data-list="bullet"><div><a href="https://www.mexc.com/support/article/mexc-futures-funding-rate-305432020820705280" data-lark-is-custom="true" style="font-size: 16px;">MEXC Futures Funding Rate: Calculation Methods and How to View Funding Rates</a></div></li><li class="ace-line ace-line old-record-id-SOiTdnJDsoMTsNxGBgKuEuR0sIb" data-list="bullet"><div><a href="https://www.mexc.com/support/article/futures-trading-page-terminology-guide-7951093588505" data-lark-is-custom="true" style="font-size: 16px;">Futures Trading Page Terminology Guide</a></div></li></ul><div class="ace-line ace-line old-record-id-VG0CdlnLeoW2enx933LuhcsQsGV"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-doxus3KYtOwGGvrjIEMGP6qtFlc"><span style="font-size: 16px;"><br></span></div></div>
FAQ on Auto-Deleveraging (ADL)
<div data-page-id="JvsqdVGOpoKgz4xNegkuJcdysIf" data-lark-html-role="root" data-docx-has-block-data="true"><h2 class="heading-2 ace-line old-record-id-doxusZeUDPL9F3pcCznjbgnDlwc"><strong>1. What Is Auto-Deleveraging (ADL)?</strong></h2><div class="ace-line ace-line old-record-id-doxus5rujMQIRCeXzs3426vprLb"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-doxusfga8LXs5RAIFZKfpHcs9Ze"><span style="font-size: 16px;">Auto-Deleveraging (ADL) is an important risk control mechanism in cryptocurrency Futures trading. When the market experiences extreme volatility, or when force majeure events cause the platform's risk reserve to become insufficient or decline rapidly, the system will trigger the ADL mechanism to control overall risk.</span></div><div class="ace-line ace-line old-record-id-R4KbdOZsCokMjMxddjluymbRsWf"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-M8FrdWcKZoG6H1xNVI0uL3vsshg"><span style="font-size: 16px;">At its core, ADL is a counterparty position reduction mechanism. Based on traders' leverage levels and profit performance, the system ranks positions according to predefined rules and prioritizes accounts with higher leverage and higher profits for automatic position reduction. This helps ensure overall fund security and market stability on the platform.</span></div><div class="ace-line ace-line old-record-id-doxusibu7CGiHW1gHY6foKCrRYf"><span style="font-size: 16px;"><br></span></div><h2 class="heading-2 ace-line old-record-id-TLWVd5vYmo9abQxlpgGuL7WEs9e"><strong>2. How ADL Is Executed</strong></h2><div class="ace-line ace-line old-record-id-doxusEGnfXGGY89BrP49yEkWguf"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-PjqqdblSeoMpflxNk56u5Ajwsdf"><span style="font-size: 16px;">Understanding how ADL works can help traders better manage potential risks. The system first calculates a PNL ranking based on profit performance and effective leverage (PNL refers to profit and loss). Traders with more aggressive strategies and higher profits are ranked higher and are more likely to be selected by the ADL mechanism.</span></div><div class="ace-line ace-line old-record-id-doxusFrATS4KEe0J2gIklpjmQkg"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-A5nkdkv7FoPGbyxSfqnuuiAfsee"><span style="font-size: 16px;">Once ADL is triggered, the system automatically identifies counterparty accounts with higher PNL rankings and executes direct trades with them at the bankruptcy price, thereby completing the automatic deleveraging process. This process is fully automated and does not require any manual intervention.</span></div><div class="ace-line ace-line old-record-id-doxusZFn3vbUVYignWiwGeuwsfb"><span style="font-size: 16px;"><br></span></div><h2 class="heading-2 ace-line old-record-id-Cx02dlEmwoCE96x4sRKuN7Mxste"><strong>3. Detailed Explanation of the ADL Ranking Formula</strong></h2><div class="ace-line ace-line old-record-id-doxusVYVNpcSDF4FycKjc2PLCkc"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-UFoKdtegQoQ1jpx23q4u2GoNspb"><span style="font-size: 16px;">ADL ranking is strictly calculated using the following formula:</span></div><div style="white-space:pre;" class="ace-line ace-line old-record-id-Iy9Udbm9DoOctAxQ4Nou36UEsjf"><span style="font-size: 16px;"><strong>Ranking = Profit </strong><strong>p</strong><strong>ercentage × Effective </strong><strong>l</strong><strong>everage</strong><strong> (if profitable)</strong>
<strong>Ranking = Loss</strong><strong> p</strong><strong>ercentage / Effective </strong><strong>l</strong><strong>everage (if at a loss)</strong></span></div><div class="ace-line ace-line old-record-id-doxuspAF8gSesH67Za4WefKd0Tg"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-doxusDU83VkcfFdAD0PGR2h758d"><span style="font-size: 16px;">Where:</span></div><ul start="1" class="list-bullet1"><li style="text-align:left" class="ace-line ace-line old-record-id-HlShd9tXKof2cBxjQshub6cjs7b" data-list="bullet"><div><span style="font-size: 16px;"><strong>Effective Leverage</strong> = Fair Value / (Fair Value − Bankruptcy Value)</span></div></li><li style="text-align:left" class="ace-line ace-line old-record-id-ReExd3YtzorM3kx3oz2ujj3qsZg" data-list="bullet"><div><span style="font-size: 16px;"><strong>Profit Percentage</strong> = (Fair Value − Average Entry Value) / Average Entry Value</span></div></li><li style="text-align:left" class="ace-line ace-line old-record-id-XwTgdYFFvoJICwxGhwWugma3sih" data-list="bullet"><div><span style="font-size: 16px;"><strong>Fair Value</strong> = Position value at the fair price</span></div></li><li style="text-align:left" class="ace-line ace-line old-record-id-Q3E1d9aHcok4Aux3NJGukwUWscc" data-list="bullet"><div><span style="font-size: 16px;"><strong>Bankruptcy </strong><strong>Value</strong> = Position value at the bankruptcy price</span></div></li><li style="text-align:left" class="ace-line ace-line old-record-id-LAdCdFrGZoY5oIxF0BKuRHHCsDe" data-list="bullet"><div><span style="font-size: 16px;"><strong>Average Entry </strong><strong>Value</strong> = Position value at the average entry price</span></div></li></ul><div class="ace-line ace-line old-record-id-JaxEdK4FRoxVVyx4ZpIuhsYPsmb"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-XPQEdgEbbougBExx6fEuaH5As5f"><span style="font-size: 16px;">Note: Long and short positions are ranked separately from highest to lowest.</span></div><div class="ace-line ace-line old-record-id-doxusTVrv8lZAHIkoyZOYQfXReg"><span style="font-size: 16px;"><br></span></div><h2 class="heading-2 ace-line old-record-id-ZV1zdtVu5opq8qxtu8huYdXBsb1"><strong>4. ADL Indicator Levels</strong></h2><div class="ace-line ace-line old-record-id-doxuseJ3BVpUHr70xtLNSyVTVFh"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-Cc2fdigxfopjXyx0ZKAuB3iKsTd"><span style="font-size: 16px;">MEXC provides an ADL indicator to help users visually understand where their positions rank in the auto-deleveraging queue. The ADL indicator has 5 levels, corresponding to 0 to 4 illuminated bars.</span></div><div class="ace-line ace-line old-record-id-doxus9AHTUbJYvOpZ3eS3X6Q53u"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-GPVpdP5A3oVipmxC5TtuPw8tsVg"><span style="font-size: 16px;">Ranking is based on profit per position for a single Futures trading pair, with long and short positions ranked separately.</span></div><div class="ace-line ace-line old-record-id-HEeXdVHX4ohYENxsxO0uBRVFsRd"><span style="font-size: 16px;"><br></span></div><div><table class="ace-table" data-ace-table-col-widths="200;200;200" style="border:none;border-collapse:collapse;table-layout:fixed;width:500px;"><colgroup><col width="200"><col width="200"><col width="200"></colgroup><tbody><tr style="height:39px;"><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: top; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-P228dwN1coTvtZxahNQuZ3NrsBh"><strong style="font-size: 16px;">Profit Ranking Range</strong></div></td><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: top; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-CqRqdA5gSogyNmxU0jluqwr7sMg"><strong style="font-size: 16px;">ADL Level</strong></div></td><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: top; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-Mga5dFS4ZopvE6xiZEJumK0VsrJ"><strong style="font-size: 16px;">Indicator Bars</strong></div></td></tr><tr style="height:39px;"><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: top; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-IAHzdkTMxoT1TbxuTzRukhk4seg"><span style="font-size: 16px;">Top 25%</span></div></td><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: top; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-PDssdJEW1ojLtqxOweTuytW5s9g"><span style="font-size: 16px;">Level 4</span></div></td><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: top; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-VhiAdyBRJoKYBWxk8WIuf3I8smh"><span style="font-size: 16px;">4 bars lit</span></div></td></tr><tr style="height:39px;"><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: top; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-HuZfdlhfvoH8jFxIJBUuI7uCsGh"><span style="font-size: 16px;">25%–50%</span></div></td><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: top; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-S7DqdjrbooCy5uxNCbOuGf7lseG"><span style="font-size: 16px;">Level 3</span></div></td><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: top; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-UzcjdciX4o7EcGxXPhhu7c5is2f"><span style="font-size: 16px;">3 bars lit</span></div></td></tr><tr style="height:39px;"><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: top; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-DyHwdRcAdoURYSxvjqVubvMJsyf"><span style="font-size: 16px;">50%–75%</span></div></td><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: top; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-NNVMdCR1Iob9aRx9lh6u0dBssvb"><span style="font-size: 16px;">Level 2</span></div></td><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: top; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-TPDjdqWGWoS3jMxU1NducIPbs3d"><span style="font-size: 16px;">2 bars lit</span></div></td></tr><tr style="height:39px;"><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: top; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-Y9JUdbMqPo1RPsxsoGEuNXgjsee"><span style="font-size: 16px;">75%–100%</span></div></td><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: top; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-P0NDdCbMQoXtSDxMJYWu2e0JsTd"><span style="font-size: 16px;">Level 1</span></div></td><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: top; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-DW54d1FhqoeWogxm08ku9Ajas9b"><span style="font-size: 16px;">1 bar lit</span></div></td></tr><tr style="height:39px;"><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: top; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-A7RCdA8y2oih6jxJ97TuMwsvsBe"><span style="font-size: 16px;">Loss-making positions</span></div></td><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: top; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-ZSQDdAZJMoGgkLx5K7luIbWCsde"><span style="font-size: 16px;">Level 0</span></div></td><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: top; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-TB1ydfytvo63WoxzBgGuginVsbh"><span style="font-size: 16px;">No bars lit</span></div></td></tr></tbody></table></div><div class="ace-line ace-line old-record-id-LlfRdt5vZoiVgvxQXJduw7UXsFg"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-VVxddwFLXoJORixHsGruSUs5spg"><span style="font-size: 16px;">The more bars illuminated, the higher the position ranks in the ADL queue. If all bars are lit, it means that the position will be prioritized for reduction if an ADL event occurs. Traders are advised to closely monitor the ADL indicator and adjust their positions accordingly.</span></div><div class="ace-line ace-line old-record-id-doxusJnFCX3oEB5LjKf6dvQhvkc"><span style="font-size: 16px;"><br></span></div><h2 class="heading-2 ace-line old-record-id-CP1zduUR3o57YexMmGguBQiMswg"><strong>5. How to Reduce the Risk of Being Auto-Deleveraged</strong></h2><div class="ace-line ace-line old-record-id-doxustRuHeC5v4u1jLwvZMHt8zf"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-OWyRdEGK9oAoGIxYHJAuIhCjsre"><span style="font-size: 16px;">To minimize the risk of being affected by ADL, traders are advised to take the following measures:</span></div><div style="text-align:left" class="ace-line ace-line old-record-id-JMfJdn3dJoxgwcxkNAYuZdnbstf"><span style="font-size: 16px;"><strong>1) Control </strong><strong>leverage</strong><strong>:</strong> Choose an appropriate leverage level and avoid excessive leverage that may increase your ADL ranking.</span></div><div style="text-align:left" class="ace-line ace-line old-record-id-TkDYd0ecko3tzhxSM9euqj3Bsjd"><span style="font-size: 16px;"><strong>2) Take profits in batches:</strong> Lock in profits gradually to reduce concentrated unrealized gains and lower the likelihood of being prioritized by the system.</span></div><div style="text-align:left" class="ace-line ace-line old-record-id-IhNLdxFZXofaAzxmpWbuzigqshf"><span style="font-size: 16px;"><strong>3) Set take-profit and stop-loss (TP/SL) orders:</strong> Use reasonable TP and SL levels to avoid automatic position reduction during extreme market conditions.</span></div><div style="text-align:left" class="ace-line ace-line old-record-id-CStEdL977ouMF2x50mIuknetsaf"><span style="font-size: 16px;"><strong>4) Monitor the ADL indicator:</strong> Regularly check your ADL level and consider proactively adjusting positions when multiple bars are lit.</span></div><div class="ace-line ace-line old-record-id-doxuswhrh5XMdFRWNj5zHhwrOdS"><span style="font-size: 16px;"><br></span></div><h2 class="heading-2 ace-line old-record-id-EYoFdwR3WowqydxQ5Xaurksiscf"><span style="font-size: 16px;">Recommended Reading:</span></h2><ul start="1" class="list-bullet1"><li style="text-align:left" class="ace-line ace-line old-record-id-Jvexdj4TVoms1nxzZv3uZgRnsVf" data-list="bullet"><div><span style="font-size: 16px;"><a href="https://www.mexc.com/support/article/mexc-futures-funding-rate-305432020820705280">MEXC Futures Funding Rate: Calculation Methods and How to View Funding Rates</a></span></div></li><li style="text-align:left" class="ace-line ace-line old-record-id-IEkZdEK7poHAH9xXHBbujY1usBc" data-list="bullet"><div><span style="font-size: 16px;"><a href="https://www.mexc.com/support/article/futures-trading-faq-305425827477864448">Futures Trading FAQ: A Complete Beginner's Guide</a></span></div></li><li style="text-align:left" class="ace-line ace-line old-record-id-YCESdoDO4os2mFx7dPOujPCNseb" data-list="bullet"><div><span style="font-size: 16px;"><a href="https://www.mexc.com/support/article/time-in-force-tif-for-futures-trading-305427906242034688">Time in Force (TIF) for Futures Trading: A Complete Guide</a></span></div></li><li style="text-align:left" class="ace-line ace-line old-record-id-LC1EdNteVoBuEtxV5Eiu2wMIsyc" data-list="bullet"><div><span style="font-size: 16px;"><a href="https://www.mexc.com/support/article/a-complete-guide-to-futures-information-terminology-305436590665908224">A Complete Guide to Futures Information Terminology</a></span></div></li><li style="text-align:left" class="ace-line ace-line old-record-id-IJA9d22mroVswMxbIGRuhWYKseg" data-list="bullet"><div><span style="font-size: 16px;"><a href="https://www.mexc.com/support/article/futures-trading-page-terminology-guide-7951093588505">Futures Trading Page Terminology Guide</a></span></div></li><li style="text-align:left" class="ace-line ace-line old-record-id-KoRFd8wOOozO8exehAHufgjlsGg" data-list="bullet"><div><span style="font-size: 16px;"><a href="https://www.mexc.com/support/article/faq-on-index-price-fair-price-and-last-price-7950960183961">FAQ on Index Price, Fair Price, and Last Price</a></span></div></li></ul></div>
FAQ on Liquidation for Futures Trading
<div data-page-id="QAXCdSKp3ovrG7xZfhHuAw6psvb" data-lark-html-role="root" data-docx-has-block-data="true"><h2 class="heading-2 ace-line old-record-id-doxusTdSRATg8afYygRhs4QGg3g"><strong>1. What Is Liquidation?</strong></h2><div class="ace-line ace-line old-record-id-U9xddrwh9oajYWxNPo2uFxQvsZc"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-RrtCdNieyo1xNVxAYUHuszzVsgd"><span style="font-size: 16px;">Liquidation, also referred to as forced closure or margin call, occurs when the platform automatically closes a user's position. On MEXC, the maintenance margin rate (MMR) is the key indicator of a user's position risk and overall asset exposure. When the MMR reaches or exceeds 100%, the system will automatically liquidate the position. Users are strongly advised to monitor changes in their MMR closely to avoid liquidation.</span></div><div class="ace-line ace-line old-record-id-doxus77cPplSKzsI5xH4oWMsySf"><span style="font-size: 16px;"><br></span></div><h2 class="heading-2 ace-line old-record-id-doxusXNFoQ4eICatMFSumDtP6bh"><strong>2. What Triggers Liquidation on MEXC?</strong></h2><div style="white-space:pre;" class="ace-line ace-line old-record-id-doxusSDlrZFAlaLxo8Nk89v3q8e"><span style="font-size: 16px;">
MEXC uses the fair price as the trigger for liquidation. When the fair price reaches the liquidation price, the liquidation mechanism is activated. Using the fair price as a reference helps improve market stability and reduces unnecessary liquidation during periods of abnormal market fluctuations.</span></div><div class="ace-line ace-line old-record-id-Zgsod8uX4oK9PJxoSkBulmK8sqb"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-XaLadiGDGoqHCDxeRczuDq1FsAb"><span style="font-size: 16px;">Users can view the current fair price and its explanation at the top of the trading page. Additionally, at the top of the candlestick chart, users can switch between the fair price, the last price, and the index price to easily track the trends of all three prices.</span></div><div class="ace-line ace-line old-record-id-VSpbdp2blo0tuWxOS8Vuluossqe"><span style="font-size: 16px;"><br></span></div><div style="text-align:center" data-type="image" data-ace-gallery-json="{"items":[{"uuid":"4c5d3677-18c3-4ca3-8fd0-472522fe0806","height":1298,"width":2268,"currHeight":1298,"currWidth":2268,"natrualHeight":1298,"natrualWidth":2268,"pluginName":"imageUpload","scale":1,"src":"https%3A%2F%2Finternal-api-drive-stream.larksuite.com%2Fspace%2Fapi%2Fbox%2Fstream%2Fdownload%2Fpreview%2FKUELbfUodoLA3PxhMTpuc88YscS%2F%3Fpreview_type%3D16","file_token":"KUELbfUodoLA3PxhMTpuc88YscS","image_type":"image/png","size":589158,"comments":[]}]}" class="image-uploaded gallery old-record-id-Wo1AdjynzoH0tZxcc1ZuXVezsch"><img src="https://mexc-rainbown-activityimages.s3.ap-northeast-1.amazonaws.com/banner/F20260205174212532lhp9LtjS9TFuEX.png" data-single-block="true" data-snapshot="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" data-suite="eyJmaWxlVG9rZW4iOiJLVUVMYmZVb2RvTEEzUHhoTVRwdWM4OFlzY1MiLCJvYmpUeXBlIjoiZG9jeCIsIm9ialRva2VuIjoiV28xQWRqeW56b0gwdFp4Y2MxWnVYVmV6c2NoIiwib3JpZ2luU3JjIjoiaHR0cHM6Ly9pbnRlcm5hbC1hcGktZHJpdmUtc3RyZWFtLmxhcmtzdWl0ZS5jb20vc3BhY2UvYXBpL2JveC9zdHJlYW0vZG93bmxvYWQvcHJldmlldy9LVUVMYmZVb2RvTEEzUHhoTVRwdWM4OFlzY1MvP3ByZXZpZXdfdHlwZT0xNiJ9" data-src="https://internal-api-drive-stream.larksuite.com/space/api/box/stream/download/all/KUELbfUodoLA3PxhMTpuc88YscS/?mount_node_token=Wo1AdjynzoH0tZxcc1ZuXVezsch&mount_point=docx_image" data-width="2268" data-height="1298" data-lark-image-uri="drivetoken://KUELbfUodoLA3PxhMTpuc88YscS" data-lark-image-width="2268" data-lark-image-height="1298" data-host-from-cloud="true" style="max-width: 100%; height: auto; border-radius: 12px; font-size: 16px; width: 750px;"></div><div class="ace-line ace-line old-record-id-doxusuFIpTOMApSWqi8tDhGIfwt"><span style="font-size: 16px;"><br></span></div><h2 class="heading-2 ace-line old-record-id-doxusJplf24Qw2dWyO0wJxbEG5p"><strong>3. How Does the Liquidation Process Work?</strong></h2><div class="ace-line ace-line old-record-id-ZG5UdZaF4oHFQCxEzH5ujutrste"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-doxusofLJqRUEWtLgSNFmu9xjlo"><span style="font-size: 16px;">When liquidation is triggered, the system will execute a tiered liquidation based on the user's position risk limit to prevent the entire position from being liquidated and to better manage risks.</span></div><div class="ace-line ace-line old-record-id-doxusRSkiu0ukNnJaPToAFVRW4f"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-doxus5y6VtLGK8xhIZL3iJTikKb"><strong style="font-size: 16px;">Order Cancelation</strong></div><ul start="1" class="list-bullet1"><li style="text-align:left" class="ace-line ace-line old-record-id-OMSwd9UeNopA3vxD1N2u0wWns2d" data-list="bullet"><div><span style="font-size: 16px;"><strong>Cross Margin Mode:</strong> All open orders under the account are canceled.</span></div></li><li style="text-align:left" class="ace-line ace-line old-record-id-MLZrdiMsZotkwHxlDU4uGAIIsUf" data-list="bullet"><div><span style="font-size: 16px;"><strong>Isolated Margin Mode (when the </strong><strong>auto-margin addition feature</strong><strong> is enabled):</strong> All open orders for the affected contract are canceled.</span></div></li><li class="ace-line ace-line old-record-id-Dnv5dgY61omh9jx01KwuAMpwsye" data-list="bullet"><div><span style="font-size: 16px;">After canceling orders, if the maintenance margin rate still equals or exceeds 100%, the process moves on to the next step.</span></div></li></ul><div class="ace-line ace-line old-record-id-QJMqdSYNAoYUf7xWKUgus3dDsEz"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-IXVFdZ1gpo3GSXxSpiNuFHhmsqb"><strong style="font-size: 16px;">Long-Short Self Trading</strong></div><ul start="1" class="list-bullet1"><li class="ace-line ace-line old-record-id-BMXmdTDw7oy3MZxr8RluztMfs7g" data-list="bullet"><div><span style="font-size: 16px;">In cross margin mode, if both long and short positions exist simultaneously, the system will automatically reduce positions by performing self trading. </span></div></li><li class="ace-line ace-line old-record-id-Zrxkdp8hsoiVQ3xMTyiucmyPs1b" data-list="bullet"><div><span style="font-size: 16px;">This step only applies in <strong>cross margin mode</strong>. After completing self-trading, if the margin rate is still 100% or higher, the system will proceed to the next step.</span></div></li></ul><div class="ace-line ace-line old-record-id-TjHVdBBkIoJGggxPwvruAlpIs8f"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-AdxPdECkbolsKzxwbRIuVra6snc"><strong style="font-size: 16px;">Tiered Liquidation</strong></div><ul start="1" class="list-bullet1"><li style="text-align:left" class="ace-line ace-line old-record-id-PPM8doYrLoJId3xPfOTuNhVRsoc" data-list="bullet"><div><span style="font-size: 16px;"><strong>Lowest Risk Tier:</strong> If the position is already in the lowest risk limit tier, the process moves on to the next step.</span></div></li><li style="text-align:left" class="ace-line ace-line old-record-id-ThMKdZoTVozsjwxG36Nu88A1sAd" data-list="bullet"><div><span style="font-size: 16px;"><strong>Higher Risk Tiers:</strong> If the position is at a higher risk limit tier, the system will liquidate part of the position at the bankruptcy price to reduce the risk limit tier. The system will then recalculate the margin rate based on the new, lowered maintenance margin rate. If the margin rate remains 100% or higher, the tiered liquidation process continues until the lowest tier is reached.</span></div></li></ul><div class="ace-line ace-line old-record-id-IqlDdaNiBoS5TJxGCuTut3HWs9d"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-NuyMdSuplomdfNxgpUFuYpzKsrf"><strong style="font-size: 16px;">Full Liquidation</strong></div><ul start="1" class="list-bullet1"><li style="text-align:left" class="ace-line ace-line old-record-id-P1OddOiqPoZzi3xyQj9u6af8sAb" data-list="bullet"><div><span style="font-size: 16px;">When the position is at the lowest risk tier but still has a margin rate at or above 100%, the remaining position is fully taken over by the liquidation engine at the bankruptcy price.</span></div></li><li class="ace-line ace-line old-record-id-HeRJdCqg7oQn1mxup1ZupQx4sCh" data-list="bullet"><div><span style="font-size: 16px;">Note: Liquidations are handled by the liquidation engine and do not go through the matching engine, so the bankruptcy price is not reflected in transaction records or on the price chart.</span></div></li></ul><div class="ace-line ace-line old-record-id-doxushWSz2yoMgXEiyHpgcSiGUc"><span style="font-size: 16px;"><br></span></div><h3 class="heading-3 ace-line old-record-id-doxus2bzIVQ1xmNvXipfTFSSc3g"><span style="font-size: 16px;">After Liquidation Engine Takeover:</span></h3><div class="ace-line ace-line old-record-id-doxusrmdVtP7iJJ9SjXeYYu6zgh"><span style="font-size: 16px;">Once a user's position is taken over by the liquidation engine at the bankruptcy price, if it can be executed at a price better than the bankruptcy price, any remaining margin will be added to the insurance fund.</span></div><div class="ace-line ace-line old-record-id-doxusJIFNwZBBQnUMlkYdli5UHh"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-Cvrad14SuoFtAyxBuVcuHteps86"><span style="font-size: 16px;">If the position cannot be executed at a price better than the bankruptcy price, the resulting deficit will be covered by the insurance fund. Finally, if the insurance fund is insufficient to cover the loss, the position will be passed on to the auto-deleveraging (ADL) system.</span></div><div class="ace-line ace-line old-record-id-GvSBdDGcAoI51IxGyxcuifF4sgf"><span style="font-size: 16px;"><br></span></div><h2 class="heading-2 ace-line old-record-id-doxusxBr1vln5HQFDdGX0oEE3ud"><strong>4. How to View Liquidation Orders</strong></h2><div class="ace-line ace-line old-record-id-Sezhd2kcSo4I5yxg3KWuhUCQsLc"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-doxusky82kMmDejmLYbb3MkFYEf"><span style="font-size: 16px;">Liquidation orders can be found in the <strong>Position History</strong> section.</span></div><div class="ace-line ace-line old-record-id-BANydpasDooDbDxnQvkudVImsCD"><span style="font-size: 16px;"><br></span></div><h3 class="heading-3 ace-line old-record-id-doxuskWPHHu33sdgOCcykVnV0Xf"><span style="font-size: 16px;">4.1 App</span></h3><div class="ace-line ace-line old-record-id-KhmVdmFxWogNKaxAYY1uzDVRsPc"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-doxusOaBqyHPIPdLI80vu9j1V2g"><strong style="font-size: 16px;">Method 1</strong></div><div style="text-align:left" class="ace-line ace-line old-record-id-HCSjdqbGxoC4oaxzgLluRfwBsWd"><span style="font-size: 16px;">1）Log in to the MEXC App and click <strong>Futures</strong> at the bottom to enter the Futures Trading page.</span></div><div class="ace-line ace-line old-record-id-AR3hdDuSIoYW1oxSk7mubJSZsnd"><span style="font-size: 16px;">2）Click the order icon in the order section.</span></div><div class="ace-line ace-line old-record-id-SpGKdMlExoH5JSxDgDQuHs4VsWe"><span style="font-size: 16px;">3）Check your liquidated orders in <strong>Position History</strong>.</span></div><div class="ace-line ace-line old-record-id-MYK1dDlOOoupGOxdCUxuC2Vysih"><span style="font-size: 16px;"><br></span></div><div style="text-align:center" data-type="image" data-ace-gallery-json="{"items":[{"uuid":"05fb4a27-d4b3-4c2c-ae5f-dd3717c01f9b","height":2157,"width":3129,"currHeight":2157,"currWidth":3129,"natrualHeight":2157,"natrualWidth":3129,"pluginName":"imageUpload","scale":1,"src":"https%3A%2F%2Finternal-api-drive-stream.larksuite.com%2Fspace%2Fapi%2Fbox%2Fstream%2Fdownload%2Fpreview%2FLlHAbIacNobxwExSh5Muojb9sdg%2F%3Fpreview_type%3D16","file_token":"LlHAbIacNobxwExSh5Muojb9sdg","image_type":"image/png","size":1141047,"comments":[]}]}" class="image-uploaded gallery old-record-id-P6MpdjdBxo67BrxWyMNuelBwsAh"><img src="https://mexc-rainbown-activityimages.s3.ap-northeast-1.amazonaws.com/banner/F20260211152437225sopQTF7uqNBMMU.png" style="max-width: 100%; height: auto; border-radius: 12px; width: 750px;" data-host-from-cloud="true"></div><div class="ace-line ace-line old-record-id-doxusbMGnx3I9YfnmUSULQof1be"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-doxusrFmTW0QUng5wW2WCCUmO4c"><strong style="font-size: 16px;">Method 2</strong></div><div style="text-align:left" class="ace-line ace-line old-record-id-OZBKdzDnvoFXS8x7WJiuQzbCsPb"><span style="font-size: 16px;">1）Log in to the MEXC App and tap <strong>Wallets</strong> at the bottom to enter the Wallets page.</span></div><div style="text-align:left" class="ace-line ace-line old-record-id-V6ridjb3noYIXlxq5X4uDaBbsbs"><span style="font-size: 16px;">2）Select the Futures tab and click the order icon on the right.</span></div><div style="text-align:left" class="ace-line ace-line old-record-id-Cf3ndLMzdo4voUxRP59uxKw8sRc"><span style="font-size: 16px;">3）View your liquidated orders in <strong>Position History</strong>.</span></div><div class="ace-line ace-line old-record-id-QqF6drqA1opFCFxx7Fvuot81syd"><span style="font-size: 16px;"><br></span></div><div style="text-align:center" data-type="image" data-ace-gallery-json="{"items":[{"uuid":"65cc9cc9-3688-4fe1-bc48-8e6130b63542","height":2160,"width":3129,"currHeight":2160,"currWidth":3129,"natrualHeight":2160,"natrualWidth":3129,"pluginName":"imageUpload","scale":1,"src":"https%3A%2F%2Finternal-api-drive-stream.larksuite.com%2Fspace%2Fapi%2Fbox%2Fstream%2Fdownload%2Fpreview%2FY8J4byRJZot7IaxFhgBunb8tsRd%2F%3Fpreview_type%3D16","file_token":"Y8J4byRJZot7IaxFhgBunb8tsRd","image_type":"image/png","size":1062486,"comments":[]}]}" class="image-uploaded gallery old-record-id-BQv8dPaqnoVt6Vxsk96uTnLVsRb"><img src="https://mexc-rainbown-activityimages.s3.ap-northeast-1.amazonaws.com/banner/F2026021115242316710dIqAGy4fF86A.png" style="max-width: 100%; height: auto; border-radius: 12px; width: 750px;" data-host-from-cloud="true"></div><div class="ace-line ace-line old-record-id-SAipdRbcroAIg4xqh1puGW7Gsif"><span style="font-size: 16px;"><br></span></div><h3 class="heading-3 ace-line old-record-id-doxusa5ovlW5dZp1ywWdR2WDTqh"><span style="font-size: 16px;">4.2 Web</span></h3><div class="ace-line ace-line old-record-id-HgQ0dqquAoScUlxQXF0u7mM0sSd"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-Vh64dRbKToHBPAxOrfJu4tFosRb"><span style="font-size: 16px;">On the website, log in and click <strong>Futures Orders</strong> under <strong>Orders</strong> in the top-right navigation bar.</span></div><div class="ace-line ace-line old-record-id-OdsYd2JAAoyKMpxGNUMucMWOsyd"><span style="font-size: 16px;"><br></span></div><div style="text-align:center" data-type="image" data-ace-gallery-json="{"items":[{"uuid":"a71250e7-80be-454c-8e10-aaa4d49693bb","height":1274,"width":2870,"currHeight":1274,"currWidth":2870,"natrualHeight":1274,"natrualWidth":2870,"pluginName":"imageUpload","scale":1,"src":"https%3A%2F%2Finternal-api-drive-stream.larksuite.com%2Fspace%2Fapi%2Fbox%2Fstream%2Fdownload%2Fpreview%2FSrwwbNi8fo2yb0xdBWBuXCWxsdb%2F%3Fpreview_type%3D16","file_token":"SrwwbNi8fo2yb0xdBWBuXCWxsdb","image_type":"image/png","size":418738,"comments":[]}]}" class="image-uploaded gallery old-record-id-XnlldL2VfoIGglxnQX4uLpcrs2c"><img src="https://mexc-rainbown-activityimages.s3.ap-northeast-1.amazonaws.com/banner/F20260205174216736Ptw8NIfXqJJ2ZH.png" data-single-block="true" data-snapshot="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" data-suite="eyJmaWxlVG9rZW4iOiJTcnd3Yk5pOGZvMnliMHhkQldCdVhDV3hzZGIiLCJvYmpUeXBlIjoiZG9jeCIsIm9ialRva2VuIjoiWG5sbGRMMlZmb0lHZ2x4blFYNHVMcGNyczJjIiwib3JpZ2luU3JjIjoiaHR0cHM6Ly9pbnRlcm5hbC1hcGktZHJpdmUtc3RyZWFtLmxhcmtzdWl0ZS5jb20vc3BhY2UvYXBpL2JveC9zdHJlYW0vZG93bmxvYWQvcHJldmlldy9Tcnd3Yk5pOGZvMnliMHhkQldCdVhDV3hzZGIvP3ByZXZpZXdfdHlwZT0xNiJ9" data-src="https://internal-api-drive-stream.larksuite.com/space/api/box/stream/download/all/SrwwbNi8fo2yb0xdBWBuXCWxsdb/?mount_node_token=XnlldL2VfoIGglxnQX4uLpcrs2c&mount_point=docx_image" data-width="2870" data-height="1274" data-lark-image-uri="drivetoken://SrwwbNi8fo2yb0xdBWBuXCWxsdb" data-lark-image-width="2870" data-lark-image-height="1274" data-host-from-cloud="true" style="max-width: 100%; height: auto; border-radius: 12px; font-size: 16px; width: 750px;"></div><div class="ace-line ace-line old-record-id-doxusjKUeMbA23lmfqX7kgsB0Mh"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-Wuw2dCztjoqulIxBTKduxEfssBt"><span style="font-size: 16px;">Under <strong>Position History</strong>, you can view your liquidated orders.</span></div><div class="ace-line ace-line old-record-id-PIQMdf38Co7ANcxsKrCu0ZZFsfe"><span style="font-size: 16px;"><br></span></div><div style="text-align:center" data-type="image" data-ace-gallery-json="{"items":[{"uuid":"e9759685-42cb-4cc4-9c98-ee100e9c822c","height":1016,"width":2872,"currHeight":1016,"currWidth":2872,"natrualHeight":1016,"natrualWidth":2872,"pluginName":"imageUpload","scale":1,"src":"https%3A%2F%2Finternal-api-drive-stream.larksuite.com%2Fspace%2Fapi%2Fbox%2Fstream%2Fdownload%2Fpreview%2FX9VXbimtpoVgrqxxH05ukAvKsLg%2F%3Fpreview_type%3D16","file_token":"X9VXbimtpoVgrqxxH05ukAvKsLg","image_type":"image/png","size":374875,"comments":[]}]}" class="image-uploaded gallery old-record-id-QPHddYBi7oWkjGxELknulAaxsIh"><img src="https://mexc-rainbown-activityimages.s3.ap-northeast-1.amazonaws.com/banner/F20260205174210384UenERbWNzMfvdT.png" data-single-block="true" data-snapshot="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" data-suite="eyJmaWxlVG9rZW4iOiJYOVZYYmltdHBvVmdycXh4SDA1dWtBdktzTGciLCJvYmpUeXBlIjoiZG9jeCIsIm9ialRva2VuIjoiUVBIZGRZQmk3b1drakd4RUxrbnVsQWF4c0loIiwib3JpZ2luU3JjIjoiaHR0cHM6Ly9pbnRlcm5hbC1hcGktZHJpdmUtc3RyZWFtLmxhcmtzdWl0ZS5jb20vc3BhY2UvYXBpL2JveC9zdHJlYW0vZG93bmxvYWQvcHJldmlldy9YOVZYYmltdHBvVmdycXh4SDA1dWtBdktzTGcvP3ByZXZpZXdfdHlwZT0xNiJ9" data-src="https://internal-api-drive-stream.larksuite.com/space/api/box/stream/download/all/X9VXbimtpoVgrqxxH05ukAvKsLg/?mount_node_token=QPHddYBi7oWkjGxELknulAaxsIh&mount_point=docx_image" data-width="2872" data-height="1016" data-lark-image-uri="drivetoken://X9VXbimtpoVgrqxxH05ukAvKsLg" data-lark-image-width="2872" data-lark-image-height="1016" data-host-from-cloud="true" style="max-width: 100%; height: auto; border-radius: 12px; font-size: 16px; width: 750px;"></div><div class="ace-line ace-line old-record-id-doxushTVGag3grSU2UGbLywnlqg"><span style="font-size: 16px;"><br></span></div><h2 class="heading-2 ace-line old-record-id-Gmq9dwo3lor5Hyxbq4LudvV5ssf"><strong>5. Explanation of Maintenance Margin and Maintenance Margin Rate</strong></h2><div class="ace-line ace-line old-record-id-ToTVdWEbsoXHElxyUXJuk2jpszb"><span style="font-size: 16px;"><br></span></div><h3 class="heading-3 ace-line old-record-id-SgIIdnoNQoQkaYxQcNkuWcsPsAc"><span style="font-size: 16px;">5.1 Maintenance Margin Rate</span></h3><div class="ace-line ace-line old-record-id-DjtkdB8x1oglI7xtoXNublGssxb"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-T0PJd7ZvFoFqXsxGWyluzbnusVc"><span style="font-size: 16px;">The maintenance margin rate (MMR) is a risk indicator that is dynamically calculated based on your current position. When the MMR reaches 100% or higher, it means your margin is not sufficient to maintain your position, and the system will trigger liquidation.</span></div><div class="ace-line ace-line old-record-id-KAGHdrczBoG1SLx3XlYuumaQsQb"><span style="font-size: 16px;"><br></span></div><div style="white-space:pre;" class="ace-line ace-line old-record-id-FLn0dTaExo3L7axP1nAuILiNsHg"><span style="font-size: 16px;"><strong>Calculation formula:</strong>
MMR = (Maintenance Margin + Liquidation Fee) / (Position Margin + Unrealized PNL)</span></div><div class="ace-line ace-line old-record-id-BFKVdykHWozFekxBYuouUUGvsFf"> <span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-VVS1dYBOhoa4G1xZMLsuXU7bsgf"><strong style="font-size: 16px;">Risk Assessment:</strong></div><ul start="1" class="list-bullet1"><li style="text-align:left" class="ace-line ace-line old-record-id-DLZEdPY47oJLo3xT7L2uqZ7YsNc" data-list="bullet"><div><span style="font-size: 16px;">MMR < 100%: The position still has a safety buffer.</span></div></li><li style="text-align:left" class="ace-line ace-line old-record-id-BZYAdL5pyowI8KxcjwvuZ16ssUb" data-list="bullet"><div><span style="font-size: 16px;">MMR = 100%: The position value is just enough to meet the minimum requirement (Maintenance Margin + Liquidation Fee). Liquidation is triggered at this point.</span></div></li><li style="text-align:left" class="ace-line ace-line old-record-id-C9lzd8j1io4YACxFSViunBmMsxc" data-list="bullet"><div><span style="font-size: 16px;">MMR > 100%: The position value has fallen below the minimum requirement, and the system will begin the liquidation process.</span></div></li></ul><div class="ace-line ace-line old-record-id-TRwwdj5lAoVElvxsfTxuzZHps7g"><span style="font-size: 16px;"><br></span></div><h3 class="heading-3 ace-line old-record-id-Z0p5du2OPo8wpJx5Yp6u723IsQd"><span style="font-size: 16px;">5.2 Maintenance Margin and Maintenance Margin Rate</span></h3><div class="ace-line ace-line old-record-id-JtuFdBRuioE9oHxwZbfu4nKysEh"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-JRR7djwt9oXx0Rxp1BKuQmE9sMd"><strong style="font-size: 16px;">5.2.1 Why Does Maintenance Margin Exist?</strong></div><div class="ace-line ace-line old-record-id-B4tIddo9cooYQKx75JvuTMwOsyf"><span style="font-size: 16px;"><br></span></div><div style="white-space:pre;" class="ace-line ace-line old-record-id-YLfPdPdFloaGLdxV6znuxVtysbf"><span style="font-size: 16px;">The maintenance margin is the minimum margin required to keep a position open. When the account margin falls below this threshold, the system will trigger liquidation or partial liquidation. It is a necessary mechanism to protect positions and control the risk of liquidation.
</span></div><div class="ace-line ace-line old-record-id-GOVsdYdIgotJtHxezbKus3CysOc"><strong style="font-size: 16px;">Calculation formulas:</strong></div><ul start="1" class="list-bullet1"><li style="white-space:pre;;text-align:left" class="ace-line ace-line old-record-id-JltndmGISo5Lw4xsBHguhCERskc" data-list="bullet"><div><span style="font-size: 16px;">USDT-Margined Futures:
Maintenance Margin = Average Entry Price × Cont. × Size × Maintenance Margin Rate</span></div></li><li style="white-space:pre;;text-align:left" class="ace-line ace-line old-record-id-SX4tdLNenoXI87xeDc8uxyGysKf" data-list="bullet"><div><span style="font-size: 16px;">Coin-Margined Futures:
Maintenance Margin = (Size × Cont. / Average Entry Price) × Maintenance Margin Rate</span></div></li></ul><div style="white-space:pre;" class="ace-line ace-line old-record-id-J64sdBbgloapXfx0QxKu5hKTsQb"><span style="font-size: 16px;">
The maintenance margin directly affects the liquidation price and can be considered the "locked" portion of margin used for risk management. The larger the position size, the more margin must be locked, which means the maintenance margin rate will increase accordingly. We strongly recommend that users close their positions before their available margin balance falls to the maintenance margin level to avoid liquidation.
</span></div><p><br></p><div class="ace-line ace-line old-record-id-UciCd2mX8oYAl8xSCT9ucd5asKb"><strong style="font-size: 16px;">5.2.2 What Is the Maintenance Margin Rate?</strong></div><div class="ace-line ace-line old-record-id-UcjldMDMsoaRgAx8pmluNx33sGh"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-OlYydzLs7onuCMx6umYu5d1fs4G"><span style="font-size: 16px;">The maintenance margin rate (MMR) is calculated based on the size of a user's position, rather than the leverage multiplier. This means the MMR is not affected by the leverage chosen. The system divides position sizes into multiple tiers according to the Future's base risk limit and incremental thresholds. Each tier corresponds to a different MMR: the larger the position, the higher the MMR. Details on the MMR and risk limit tiers for each Perpetual Futures can be found under <strong>Futures Overview</strong> → <strong>Information</strong> → <strong><a data-lark-is-custom="true" href="https://www.mexc.com/futures/information/risk_limit?symbol=BTC_USDT&type=linear_swap&utm_source=mexc&utm_medium=newfuturesheader&utm_campaign=risk_limit">Risk Limits</a></strong>.</span></div><div class="ace-line ace-line old-record-id-EKhMdcLAVo0Wn2xk7iTu3VtmsZ3"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-Js8zdQ84HoN6q6xYMhGuLOFfscd"><span style="font-size: 16px;"><strong>Example:</strong> If User A's MMR is 1% and they use 100 USDT as margin, 1 USDT will be locked. When the unrealized loss reaches 99 USDT, the position will be liquidated, rather than waiting until the full 100 USDT is lost. This mechanism helps the platform manage risk more effectively.</span></div><div class="ace-line ace-line old-record-id-JVJodhLqqozrhCxTDWyugmeOsAc"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-WkLadWqV6odFp6xj61ru93X2std"><span style="font-size: 16px;"><strong>Note:</strong> In cases of abnormal price fluctuations or extreme market conditions, the system may take additional measures to maintain market stability, including but not limited to:</span></div><ul start="1" class="list-bullet1"><li style="text-align:left" class="ace-line ace-line old-record-id-FGLkdfgcdoY7vyxU8qEuWdAtsMe" data-list="bullet"><div><span style="font-size: 16px;">Adjusting the maximum leverage for Futures</span></div></li><li style="text-align:left" class="ace-line ace-line old-record-id-S4Lcd24jDoD9qCxPoomutvGgsxB" data-list="bullet"><div><span style="font-size: 16px;">Adjusting position limits across different tiers</span></div></li><li style="text-align:left" class="ace-line ace-line old-record-id-Yg5rd9uVEoglddx09W9uwxhTsQb" data-list="bullet"><div><span style="font-size: 16px;">Adjusting the MMR across different tiers</span></div></li></ul><div class="ace-line ace-line old-record-id-Mdiqd7etpoFKPMxwQD2uPhUys7f"><span style="font-size: 16px;"><br></span></div><h2 class="heading-2 ace-line old-record-id-UszDdQVFpo1TpWxtZNwucywCsrb"><strong>6. Liquidation Price Calculation</strong></h2><div class="ace-line ace-line old-record-id-Vh4CdjXcso2JERx9432u0h2hs7c"><span style="font-size: 16px;"><br></span></div><h3 class="heading-3 ace-line old-record-id-KXDddbF8KoaUkyxj2TXuoRUWsAh"><span style="font-size: 16px;">6.1 Calculation of Liquidation Price in Isolated Margin Mode</span></h3><div class="ace-line ace-line old-record-id-FNfTdKKqwofM8Xx1BAtuhXBZsQd"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-XtzwdcOIKos5I6xcXrvuHc2Tsqg"><span style="font-size: 16px;"><strong>Liquidation condition: </strong>A position will be liquidated when the Position Margin + Unrealized PNL ≤ Maintenance Margin + Liquidation Fee. </span></div><div class="ace-line ace-line old-record-id-J2kgd4ZSAoYb2uxf3FYuyesLscb"><span style="font-size: 16px;">In other words, liquidation is triggered when the maintenance margin rate (MMR) = 100%, and the liquidation price can be derived from this condition. (For simplicity, the following example ignores the liquidation fee.)</span></div><div class="ace-line ace-line old-record-id-Jg9Xd0l0eoXsdTx1czvuTI4HsJe"><span style="font-size: 16px;"><br></span></div><div style="white-space:pre;;text-align:left" class="ace-line ace-line old-record-id-MZ9zdnEJao2cfTxvdpPuiprws7b"><span style="font-size: 16px;"><strong>Long position:</strong>
Liquidation Price = (Maintenance Margin – Position Margin + Average Entry Price × Cont. × Size) / (Cont. × Size)</span></div><div style="white-space:pre;;text-align:left" class="ace-line ace-line old-record-id-VkobdfdXeoBNpcxempJuBsxHsJe"><span style="font-size: 16px;"><strong>Short position:</strong>
Liquidation Price = (Average Entry Price × Cont. × Size – Maintenance Margin + Position Margin) / (Cont. × Size)</span></div><div class="ace-line ace-line old-record-id-N1Hodfk94ordW9xgZLfu6VEwsHc"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-DBBFdjAsuoXUalxpq2du1wGLs3f"><span style="font-size: 16px;"><strong>Example: </strong>A user buys 10,000 cont. of BTCUSDT Perpetual Futures at an Average Entry Price of 8,000 USDT with 25x leverage, opening a long position. (Assume the 10,000 cont. fall under the first risk tier with a maintenance margin rate of 0.5%.)</span></div><div class="ace-line ace-line old-record-id-ZTEadurSqoGxHaxkGNKulq5Ysjc"><span style="font-size: 16px;"><br></span></div><div style="text-align:left" class="ace-line ace-line old-record-id-PxnydOj20oNBatxQoOuuRC0tsSe"><span style="font-size: 16px;">Maintenance Margin = 8,000 × 10,000 × 0.0001 × 0.5% = 40 USDT</span></div><div style="text-align:left" class="ace-line ace-line old-record-id-XZtOddFhroElptx0XKyuRA2bshg"><span style="font-size: 16px;">Position Margin = (8,000 × 10,000 × 0.0001) / 25 = 320 USDT</span></div><div class="ace-line ace-line old-record-id-QVihdIZLyouRgbxIdXmukzZLsNg"><span style="font-size: 16px;"><br></span></div><div style="white-space:pre;" class="ace-line ace-line old-record-id-RiCqdVBucozTvaxXGLDu4zuNsKc"><span style="font-size: 16px;">Liquidation Price for the long position:
(40 – 320 + 8,000 × 10,000 × 0.0001) / (10,000 × 0.0001) = 7,720 USDT</span></div><div class="ace-line ace-line old-record-id-BoEXd6999oeyLUxzCvNuWIKRsYg"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-Bz5LdsvaNov8emxcpYmuIK1dsab"><span style="font-size: 16px;">In isolated margin mode, users can manually add margin to increase the buffer between the liquidation price and the entry price, thereby lowering the risk of liquidation. When the risk level of a position is high, adding extra margin is an effective way to reduce exposure.</span></div><div class="ace-line ace-line old-record-id-D6Q9dWrbPoF8oixoXNQur5klsIf"><span style="font-size: 16px;"><br></span></div><h3 class="heading-3 ace-line old-record-id-ISa0dEK91ooLbqxwyBUuR7UbsOg"><span style="font-size: 16px;">6.2 Calculation of Liquidation Price in Cross Margin Mode</span></h3><div class="ace-line ace-line old-record-id-SqjHdJnAXob2vVxrPXduFsU8s2Y"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-EK1Kd0Mc2oNfzUxtpQAuV8bEsbh"><span style="font-size: 16px;"><strong>Liquidation condition: </strong>A position will be liquidated when the equity in cross margin mode (excluding isolated margin, isolated Unrealized PNL, and all order margins) ≤ Cross Margin Maintenance Margin + Liquidation Fee. In other words, liquidation is triggered when the maintenance margin rate (MMR) = 100%, and the liquidation price can be derived from this condition. (For simplicity, the following example ignores the liquidation fee.)</span></div><div class="ace-line ace-line old-record-id-NW99dZDpHocA7Gx5Xy7uVVJHsNb"><span style="font-size: 16px;"><br></span></div><div style="white-space:pre;" class="ace-line ace-line old-record-id-KMMCddlpJoYl3dx0JWXuXE1Zs9b"><span style="font-size: 16px;"><strong>Formula:</strong>
Liquidation Price = (Average Short Entry Price × Short Position Cont. × Size – Average Long Entry Price × Long Position Cont. × Size – Cross Margin Maintenance Margin + (Wallet Balance – Isolated Position Margin – Order Margin + Unrealized PNL of other cross margin positions)) / (Short Position Cont. × Size – Long Position Cont. × Size)</span></div><div class="ace-line ace-line old-record-id-QwUhdfiEro0hQAxML0GuuFRWs5d"><span style="font-size: 16px;"><br></span></div><div style="white-space:pre;" class="ace-line ace-line old-record-id-Fk6bdSzVoodrMexfDTxu0PMLske"><span style="font-size: 16px;"><strong>Example:</strong>
A user buys 10,000 cont. of BTCUSDT Perpetual Futures at an Average Entry Price of 8,000 USDT with 25x leverage, using 500 USDT wallet balance. The user holds only this single long cross margin position, with no isolated positions and no active open orders. (Assume the 10,000 cont. fall under the first risk tier with a maintenance margin rate of 0.5%.)</span></div><div class="ace-line ace-line old-record-id-WDwgdd521oMa6Ox8hIeuiP9UsXg"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-CYs4d732WonkkMxQVKVu5jmWsTh"><span style="font-size: 16px;">Cross Margin Maintenance Margin = 8,000 × 10,000 × 0.0001 × 0.5% = 40 USDT</span></div><div class="ace-line ace-line old-record-id-KzwPdpGaao2latxU3AvuztNnskd"><span style="font-size: 16px;"><br></span></div><div style="white-space:pre;" class="ace-line ace-line old-record-id-ADpsdIMiloXerBxPBvGuHYa4stc"><span style="font-size: 16px;">Liquidation Price:
(0 × 0 × 0.0001 – 8,000 × 10,000 × 0.0001 – 40 + (500 – 0 – 0 + 0)) / (0 × 0.0001 – 10,000 × 0.0001) = 7,540 USDT</span></div><div class="ace-line ace-line old-record-id-VTmed2KDCoSjLixLm5wuoCR1syc"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-B3cfddNvzoOhCYxE1P2uZPR0sqb"><span style="font-size: 16px;">Unlike isolated margin mode, the liquidation price in cross margin mode may change at any time, since the margin is constantly affected by positions in other trading pairs. In cross margin mode, each position has its own independent initial margin, but the margin pool is shared. The unrealized PNL of every position impacts the overall cross margin account balance. Moreover, if a user holds both long and short cross margin positions under the same Future, the liquidation price will be the same for both directions.</span></div><div class="ace-line ace-line old-record-id-NopRdP6ycovf9YxKlzeuxHvmsbb"><span style="font-size: 16px;"><br></span></div><h2 class="heading-2 ace-line old-record-id-IpbIdo112om8S9xmQmFuAmSSsnO"><strong>7. Is the Liquidation Price the Same as the Takeover Price?</strong></h2><div class="ace-line ace-line old-record-id-Xk27dH967oAxeAx3cUuuIhqDsEf"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-K4OIdtuWJoOXmbxc3mgu6Lwfs1g"><span style="font-size: 16px;">The liquidation price is not the same as the takeover price. The liquidation price is only a trigger point. Once liquidation occurs, the liquidation engine will take over the user's position at the takeover price. In position history and "Share My PNL" page, the average close price shown is the takeover price.</span></div><div class="ace-line ace-line old-record-id-HkZJdxPfhoVTFUxtfCruHSwusrv"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-QFEndkIcWonit0xIllTucxvdsLK"><span style="font-size: 16px;">The takeover price, also known as the bankruptcy price, refers to the price at which all the margin in the position has been completely lost. It represents the theoretical point where the account balance would be reduced to zero. In practice, this rarely occurs, because once the liquidation price is reached, the platform automatically liquidates the position to protect market liquidity.</span></div><div class="ace-line ace-line old-record-id-KZpsdSW4UoioLBxJXC9uphQKshg"><span style="font-size: 16px;"><br></span></div><div style="text-align:center" data-type="image" data-ace-gallery-json="{"items":[{"uuid":"b9c16eb2-96a2-4443-b0f6-1511a594242b","height":823,"width":1459,"currHeight":823,"currWidth":1459,"natrualHeight":823,"natrualWidth":1459,"pluginName":"imageUpload","scale":1,"src":"https%3A%2F%2Finternal-api-drive-stream.larksuite.com%2Fspace%2Fapi%2Fbox%2Fstream%2Fdownload%2Fpreview%2FWjvZbGniHoujILxft5kuIJ5ls7b%2F%3Fpreview_type%3D16","file_token":"WjvZbGniHoujILxft5kuIJ5ls7b","image_type":"image/png","size":435825,"comments":[]}]}" class="image-uploaded gallery old-record-id-DAX2dDjCto4DZwxUKGfucdPJs4g"><img src="https://mexc-rainbown-activityimages.s3.ap-northeast-1.amazonaws.com/banner/F20260205174213677jMhxEZlzoaCWSp.png" data-single-block="true" data-snapshot="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" data-suite="eyJmaWxlVG9rZW4iOiJXanZaYkduaUhvdWpJTHhmdDVrdUlKNWxzN2IiLCJvYmpUeXBlIjoiZG9jeCIsIm9ialRva2VuIjoiREFYMmREakN0bzREWnd4VUtHZnVjZFBKczRnIiwib3JpZ2luU3JjIjoiaHR0cHM6Ly9pbnRlcm5hbC1hcGktZHJpdmUtc3RyZWFtLmxhcmtzdWl0ZS5jb20vc3BhY2UvYXBpL2JveC9zdHJlYW0vZG93bmxvYWQvcHJldmlldy9XanZaYkduaUhvdWpJTHhmdDVrdUlKNWxzN2IvP3ByZXZpZXdfdHlwZT0xNiJ9" data-src="https://internal-api-drive-stream.larksuite.com/space/api/box/stream/download/all/WjvZbGniHoujILxft5kuIJ5ls7b/?mount_node_token=DAX2dDjCto4DZwxUKGfucdPJs4g&mount_point=docx_image" data-width="1459" data-height="823" data-lark-image-uri="drivetoken://WjvZbGniHoujILxft5kuIJ5ls7b" data-lark-image-width="1459" data-lark-image-height="823" data-host-from-cloud="true" style="max-width: 100%; height: auto; border-radius: 12px; font-size: 16px; width: 750px;"></div><div class="ace-line ace-line old-record-id-HURZd5AdDoP04BxBpTyu7tbpsEf"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-VVF6d4bPYo2VbNxBAEXuzvaKs6e"><span style="font-size: 16px;">Example: SOLUSDT Liquidated Position Order Details</span></div><div><table class="ace-table" data-ace-table-col-widths="94;56;107;118;118;100;100" style="border:none;border-collapse:collapse;table-layout:fixed;width:500px;"><colgroup><col width="94"><col width="56"><col width="107"><col width="118"><col width="118"><col width="100"><col width="100"></colgroup><tbody><tr style="height:39px;"><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: middle; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-Dicad0L8AoYo05x3JriugJBKsZe"><span style="font-size: 16px;"><br></span></div></td><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: middle; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-WSHmdLZtGoaMhjxy93Lu2LMmsob"><span style="font-size: 16px;">Leverage</span></div></td><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: middle; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-Bes5dTKGCoB6unxGHhEuA1VFsHg"><span style="font-size: 16px;">Average Entry Price</span></div></td><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: middle; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-Kr4odePltoTAVVxlDO3ugVcjsge"><span style="font-size: 16px;">Position Margin</span></div></td><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: middle; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-Y1OydSGmCozUEtx5kwLuq5qOs5d"><span style="font-size: 16px;">Position Value</span></div></td><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: middle; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-PsP1dSukmo6j5lxIrj0u6l1nsMd"><span style="font-size: 16px;">Liquidation Price</span></div></td><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: middle; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-Q7y2dkyndo8GpRxXrkHuzzG0szb"><span style="font-size: 16px;">Bankruptcy Price</span></div></td></tr><tr style="height:39px;"><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: middle; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-R4sEd2rxJosZzVxAUFauBtHKsEh"><span style="font-size: 16px;">Before Liquidation</span></div></td><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: middle; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-EJycdj5oYoKCogxaWdGunvDQs7g"><span style="font-size: 16px;">100x</span></div></td><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: middle; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-BSJkdjIpxoo3mHxzS3huduA2sIe"><span style="font-size: 16px;">196.09 USDT</span></div></td><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: middle; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-IzjKdmohuogClvxXRWRuZu6xsl1"><span style="font-size: 16px;">1.3726 USDT</span></div></td><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: middle; font-size: 10pt;"><div style="text-align:left" class="ace-line ace-line old-record-id-XjxHddhVaobT4Ex9hkcuSc96sbf"><span style="font-size: 16px;">137.263 USDT</span></div></td><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: middle; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-Kz7IdYAVmoacABxAOQTueCVUsmb"><span style="font-size: 16px;">/</span></div></td><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: middle; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-NGxqd0Pn1oSlLkxgMZWu0Glnslc"><span style="font-size: 16px;">/</span></div></td></tr><tr style="height:39px;"><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: middle; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-AivQd1s3xom5YkxY6UGuxZ6ts8g"><span style="font-size: 16px;">After Liquidation</span></div></td><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: middle; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-VjjOdocbDo5nj1xjjTYuKe07sIh"><span style="font-size: 16px;">100x</span></div></td><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: middle; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-QMmQddv0CoOPF9xBHb4u1hkYsph"><span style="font-size: 16px;">/</span></div></td><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: middle; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-PcpNdEcMUoKXY4xVRtruEwyvsND"><span style="font-size: 16px;">/</span></div></td><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: middle; font-size: 10pt;"><div class="ace-line ace-line old-record-id-Ljp7dHL7Eom22YxXbcLuzdpSskf"><span style="font-size: 16px;">137.263 USDT</span></div></td><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: middle; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-DJXtdx1bmofPKVxc5yUuFFWHsNb"><span style="font-size: 16px;">194.59 USDT</span></div></td><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: middle; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-ErHZd70ZYo0O4DxHISFuTcGfsac"><span style="font-size: 16px;">194.14 USDT</span></div></td></tr></tbody></table></div><div class="ace-line ace-line old-record-id-HoPwdYx4ooqSTkx2iIyuOpHasCc"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-GxyvdXuU8oQd8SxKRIFuMCFKsTg"><span style="font-size: 16px;">When the market fair price reached the liquidation price of 194.59 USDT, the long SOLUSDT position was liquidated. This portion of the position was then taken over by the liquidation engine at the bankruptcy price of 194.14 USDT.</span></div><div class="ace-line ace-line old-record-id-doxussh1m2ujYqFGnOWZli1H4Ie"><span style="font-size: 16px;"><br></span></div><h3 class="heading-3 ace-line old-record-id-OIgJd0vnnoKJebxeSvyursElsge"><span style="font-size: 16px;">7.1 Why Isn't the Takeover Price Shown on the Candlestick Chart?</span></h3><div class="ace-line ace-line old-record-id-PH7gdAtoioTXIrx4SGwuNrDesOc"><span style="font-size: 16px;"><br></span></div><div style="text-align:center" data-type="image" data-ace-gallery-json="{"items":[{"uuid":"215e5042-f029-4055-a0f1-debd96059ec2","height":352.24719101123594,"width":380,"currHeight":352.24719101123594,"currWidth":380,"natrualHeight":660,"natrualWidth":712,"pluginName":"imageUpload","scale":0.5337078651685393,"src":"https%3A%2F%2Finternal-api-drive-stream.larksuite.com%2Fspace%2Fapi%2Fbox%2Fstream%2Fdownload%2Fpreview%2FPXTVbfBYco1PeixnCJpuIQYJsxc%2F%3Fpreview_type%3D16","file_token":"PXTVbfBYco1PeixnCJpuIQYJsxc","image_type":"image/png","size":147237,"comments":[]}]}" class="image-uploaded gallery old-record-id-SUnddjPoBo440RxC9z6uhFV2sif"><img src="https://mexc-rainbown-activityimages.s3.ap-northeast-1.amazonaws.com/banner/F20260205174211381LjXX8y99LszkGc.png" data-single-block="true" data-snapshot="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" data-suite="eyJmaWxlVG9rZW4iOiJQWFRWYmZCWWNvMVBlaXhuQ0pwdUlRWUpzeGMiLCJvYmpUeXBlIjoiZG9jeCIsIm9ialRva2VuIjoiU1VuZGRqUG9CbzQ0MFJ4Qzl6NnVoRlYyc2lmIiwib3JpZ2luU3JjIjoiaHR0cHM6Ly9pbnRlcm5hbC1hcGktZHJpdmUtc3RyZWFtLmxhcmtzdWl0ZS5jb20vc3BhY2UvYXBpL2JveC9zdHJlYW0vZG93bmxvYWQvcHJldmlldy9QWFRWYmZCWWNvMVBlaXhuQ0pwdUlRWUpzeGMvP3ByZXZpZXdfdHlwZT0xNiJ9" data-src="https://internal-api-drive-stream.larksuite.com/space/api/box/stream/download/all/PXTVbfBYco1PeixnCJpuIQYJsxc/?mount_node_token=SUnddjPoBo440RxC9z6uhFV2sif&mount_point=docx_image" data-width="712" data-height="660" data-lark-image-uri="drivetoken://PXTVbfBYco1PeixnCJpuIQYJsxc" data-lark-image-width="712" data-lark-image-height="660" data-host-from-cloud="true" style="max-width: 100%; height: auto; border-radius: 12px; font-size: 16px; width: 500px;"></div><div class="ace-line ace-line old-record-id-A01ndjTrfoOtB6xWD1kuEmo8s5f"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-Aq1Wd2KpboYcwGxVNjyuhKLksrd"><span style="font-size: 16px;">When the mark price reaches the liquidation price, the system will take over the position at the takeover price (bankruptcy price). Since the liquidation process does not go through the matching engine, the takeover price may not appear on the candlestick chart. After liquidation, any remaining margin is transferred to the insurance fund. If the position goes into negative equity, the insurance fund will cover the shortfall. This is one of MEXC's risk control measures designed to prevent the auto-deleveraging (ADL) mechanism from being triggered during extreme market volatility.</span></div><div class="ace-line ace-line old-record-id-ICJZdKxiFoaaA6xvx9UuFidHshf"><span style="font-size: 16px;"><br></span></div><h2 class="heading-2 ace-line old-record-id-doxusJUue9eTJVoqJaQmOt2nlxh"><strong>8. What Is the Relationship Between Leverage and Liquidation Price？</strong></h2><div class="ace-line ace-line old-record-id-BKiKdbX4Po4x0Uxc4dNu4t5usGd"><span style="font-size: 16px;"><br></span></div><h3 class="heading-3 ace-line old-record-id-VEwodU8F5o7Ta4xs6DYu7FiFsKX"><span style="font-size: 16px;">8.1 Leverage Determines the Maximum Position Limit</span></h3><div class="ace-line ace-line old-record-id-EpL8dVRb7ohrC2xJ4cquu1iqsJc"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-IjdgdtGrioYbODxVsuzumbWIsxe"><span style="font-size: 16px;">Using the BTCUSDT Perpetual Futures contract as an example (the following data is for illustration only; please refer to the <a data-lark-is-custom="true" href="https://www.mexc.co/futures/information/risk_limit">Risk Limits</a> list for actual values):</span></div><div class="ace-line ace-line old-record-id-QimUdBOYHo5U86xLQVauJdhQsLc"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-DgOMdFfuKokO6UxO9yluXgOWsxv"><span style="font-size: 16px;">When a user sets leverage to 200x, this corresponds to Tier 1 in the risk limits list. At this tier, the user's maximum position quantity is 525,000 cont. (including both open positions and pending opening order quantities).</span></div><div class="ace-line ace-line old-record-id-RLkWdZVajof74KxBKVPuYQcas6f"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-MD6AdKqOloIvYZxDRzhuSbFCsof"><span style="font-size: 16px;">When a user sets leverage to 50x, this corresponds to Tier 4 in the risk limits list (47 < Leverage ≤ 58). At this tier, the user's maximum position quantity is 2,100,000 cont. (including both open positions and pending opening order quantities).</span></div><div><table class="ace-table" data-ace-table-col-widths="100;149;267;178" style="border:none;border-collapse:collapse;table-layout:fixed;width:500px;"><colgroup><col width="100"><col width="149"><col width="267"><col width="178"></colgroup><tbody><tr style="height:39px;"><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: middle; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-Z2H1dW2xMoV7ubxFabquvbWYsGh"><strong style="font-size: 16px;">Tier</strong></div></td><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: middle; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-NvutdPuFcoOvfextWXSucdm9sUc"><strong style="font-size: 16px;">Maximum Leverage</strong></div></td><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: middle; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-RpLZdNerQotqBfxWrt4umarMsrg"><strong style="font-size: 16px;">Position Size Range (Cont.)</strong></div></td><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: middle; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-QtNodJSa9ooe4pxPBdnuOZD1sjc"><strong style="font-size: 16px;">Maintenance Margin Rate</strong></div></td></tr><tr style="height:39px;"><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: middle; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-H0TzdYfQTo8zfCxp74yuzDKnszf"><span style="font-size: 16px;">1</span></div></td><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: middle; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-XxMddjpE3oCvVhxqHlhuQZt9s8e"><span style="font-size: 16px;">200x</span></div></td><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: middle; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-BkPJdbLnZo23W5xF612uu38WsUs"><span style="font-size: 16px;">0~525,000</span></div></td><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: middle; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-VI7sds44Tot3n4xmLOvua67Bs0g"><span style="font-size: 16px;">0.40%</span></div></td></tr><tr style="height:39px;"><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: middle; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-WxUHdycPRoirEaxoZdKuMq4Qsoe"><span style="font-size: 16px;">2</span></div></td><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: middle; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-HFpHdKccxo4f5sxTFWCu8kz4sUe"><span style="font-size: 16px;">111x</span></div></td><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: middle; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-D18CdCnkroTERqxNCmquKxD2sdb"><span style="font-size: 16px;">525,000~1,050,000</span></div></td><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: middle; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-TgUfdb0LCoTVWixPIHQuzHgKszc"><span style="font-size: 16px;">0.80%</span></div></td></tr><tr style="height:39px;"><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: middle; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-Ny1FdjgGto3DQJxvvd7uAfFvszb"><span style="font-size: 16px;">3</span></div></td><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: middle; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-KqNHdSQnCo3FiUxUIqxu9pgisjb"><span style="font-size: 16px;">76x</span></div></td><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: middle; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-FE4IdcP6ZoAG00xbtWHuNt4Isfo"><span style="font-size: 16px;">1,050,000~1,575,000</span></div></td><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: middle; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-TGBEdKbFfoppISxN6xpuBcO1sCg"><span style="font-size: 16px;">1.20%</span></div></td></tr><tr style="height:39px;"><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: middle; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-HduOd0XwCoTBHvx6ZgXu5k9dsVb"><span style="font-size: 16px;">4</span></div></td><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: middle; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-SkJKdB3Hwo5eUjxErdruyIp7sMc"><span style="font-size: 16px;">58x</span></div></td><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: middle; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-JHh1dvgNGog9u0xhoAiu6GIVsyb"><span style="font-size: 16px;">1,575,000~2,100,000</span></div></td><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: middle; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-CDyKd1a5eou9H8xH9NzunVaysVf"><span style="font-size: 16px;">1.60%</span></div></td></tr><tr style="height:39px;"><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: middle; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-DlZ6dBKpgo8IQ0xEDlYuacDgsYf"><span style="font-size: 16px;">5</span></div></td><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: middle; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-I34jdxWikooRAHx5ovyuxP5nsfc"><span style="font-size: 16px;">47x</span></div></td><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: middle; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-TIDIdYbDroVUgPxWDdcuvmbssgb"><span style="font-size: 16px;">2,100,000~2,625,000</span></div></td><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: middle; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-TYKedqhSHo1pJoxZor2uW0XYshd"><span style="font-size: 16px;">2.00%</span></div></td></tr></tbody></table></div><div class="ace-line ace-line old-record-id-KAyCdeCr6ocl4nxGVViuoreMsOg"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-XgGKdn3xgoSE1Zxe84KutEQfszh"><span style="font-size: 16px;">Assume the risk limit tiers for the BTCUSDT Perpetual Futures contract are as shown above (values are for illustration only; please refer to the <a data-lark-is-custom="true" href="https://www.mexc.co/futures/information/risk_limit">Risk Limits</a> list for each Future for the actual figures).</span></div><div class="ace-line ace-line old-record-id-OsOMdQtXMo9qdMxo5RvuZcAysCg"><span style="font-size: 16px;"><br></span></div><ul start="1" class="list-bullet1"><li class="ace-line ace-line old-record-id-WAHXdz0Rjozq6QxzYGruIYAjsde" data-list="bullet"><div><span style="font-size: 16px;">In cross margin mode, the leverage only affects the amount of margin required and does not directly determine the liquidation price. The liquidation price in cross margin mode is determined by the account balance and the value of open positions.</span></div></li><li style="text-align:left" class="ace-line ace-line old-record-id-VehEdtUhVoMGCmxslfduGETVsVb" data-list="bullet"><div><span style="font-size: 16px;">In isolated margin mode, if the user does not adjust the margin after opening a position, higher leverage will cause the liquidation price to approach the entry price, increasing the risk of liquidation.</span></div></li></ul><div class="ace-line ace-line old-record-id-doxusNuoBSlKF93aChb2MRqUm6J"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-doxusVh0kGpD1KHxnclqwsiw1jq"><span style="font-size: 16px;">In cross margin mode, here's how "effective leverage" works:</span></div><div class="ace-line ace-line old-record-id-K4U2dGJd9otVCHx5wuOuFD11s4c"><span style="font-size: 16px;">For example, suppose a user has 10 USDT in their account. In cross margin mode, if they select 10x leverage to open a position worth 10 USDT, the initial margin for that position would be calculated as follows:</span></div><div class="ace-line ace-line old-record-id-GUPndIV6PoKpexxYTtgu2Ym8sPe"><span style="font-size: 16px;">Initial Margin = Position Value / Leverage = 10 USDT / 10 = 1 USDT</span></div><div class="ace-line ace-line old-record-id-PBlJdrXxDo5LpkxT3dxuP9IMsKe"><span style="font-size: 16px;">This means 1 USDT from the user's account would be locked as margin, while the remaining 9 USDT would still be available for other positions.</span></div><div class="ace-line ace-line old-record-id-doxusF2rDGMPfo9hWTdYp3ZW7Uh"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-As4TdMJdBo8AepxlIT3uy88ksVc"><span style="font-size: 16px;">Since the user is trading in cross margin mode, their entire account balance serves as available margin. This means all 10 USDT in their Futures account can be utilized for position risk management. Therefore, despite selecting 10x leverage, their effective leverage actually calculates to:</span></div><div class="ace-line ace-line old-record-id-KTzPdZAcFoFnsaxKJurudO20sPN"><span style="font-size: 16px;">Effective Leverage = Account Balance / Position Value = 10 USDT / 10 USDT = 1</span></div><div class="ace-line ace-line old-record-id-FxGXdOVyeo1JuDxF9KTumPsQsCd"><span style="font-size: 16px;">This demonstrates that in cross margin mode, leverage does not directly determine the liquidation price. Instead, the liquidation price depends primarily on the account's available margin and the value of the open positions.</span></div><div class="ace-line ace-line old-record-id-IWSid5AARoUxwtxEvBRurUcCsfc"><span style="font-size: 16px;"><br></span></div><h3 class="heading-3 ace-line old-record-id-ThLEdme3io05S6xVK1tumjjwsad"><span style="font-size: 16px;">8.2 Maintenance Margin Rate by Position Size Tier</span></h3><div class="ace-line ace-line old-record-id-UD13dHlQcoXE8RxaPjSu2JBUsIh"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-IR0KdbppYokZw7xDyA1ukdLjsfd"><span style="font-size: 16px;">User A buys 80,000 cont. in BTCUSDT Perpetual Futures at a price of 10,000 USDT with 50x leverage. At this point, the position size is 80,000 cont., which falls under Tier 1 in the Risk Limits list (position size range: 0-100,000 cont.). Therefore, the maintenance margin rate for this position is 0.5% under Tier 1.</span></div><div class="ace-line ace-line old-record-id-KZX9drNwMoQdj7xG79luQ8GFsQd"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-K8iQdE3ztouV04xtyV1uBDZBsce"><span style="font-size: 16px;">Later, as the BTCUSDT price rises, User A increases the position by 40,000 cont., (bringing the total position size to 120,000 cont., which falls under Tier 2 in the Risk Limits list (position size range: 100,000-200,000 cont.). As a result, the maintenance margin rate rises to 1% under Tier 2.</span></div><div class="ace-line ace-line old-record-id-J6aadv9wfoeF5Vxm3zVu9AwrsGd"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-DflbdBElQoaJ23xcJz7uUrzQs6d"><span style="font-size: 16px;">At this stage, if the position reaches the liquidation threshold, liquidation will be triggered. Because the position is in a higher tier, tiered liquidation applies. The system will first liquidate 20,000 cont. (the portion in the current tier). After this partial liquidation, the position size decreases to 100,000 cont., moving it back to Tier 1, where the maintenance margin rate drops from 1% to 0.5%. The system will then reassess the remaining position: if it is still subject to liquidation, the remaining position will also be liquidated; if not, the remaining position will be retained.</span></div><div class="ace-line ace-line old-record-id-IDOLd1hsMoiJldxLVFeumc6Usrd"><span style="font-size: 16px;"><br></span></div><h2 class="heading-2 ace-line old-record-id-W6aQd4EGKobVirx9kNqua1bTs0d"><strong>9. Why Is the Liquidation Position Value (in USDT) Different From the Initial Position Value?</strong></h2><div class="ace-line ace-line old-record-id-TjnNdAn4qoJeAoxBmEFulk5Usdh"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-JTQfdGxX2oViS7x6s3Budlzasfd"><span style="font-size: 16px;">When you set your contract unit to USDT, instead of quantity or cont., in USDT-Margined Futures Trading, the liquidated quantity shown in <strong>Position History</strong> may differ from your opening quantity. </span></div><div class="ace-line ace-line old-record-id-doxusS88qmFodKfEbA7jSAFZijd"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-doxusQ8lJ7mS1qlRZQYe7its02d"><span style="font-size: 16px;">This happens because while you hold the same number of tokens throughout, their value changes as prices fluctuate. Since liquidated amount (position value) is calculated by multiplying token quantity by the average execution price, the final liquidated amount will typically vary from your initial position size.</span></div><div class="ace-line ace-line old-record-id-WP0hdVEZ8o9ji7xrOHoumt2LsPf"><span style="font-size: 16px;"><br></span></div><div style="text-align:center" data-type="image" data-ace-gallery-json="{"items":[{"uuid":"68bad4bb-cbb5-4e46-8066-44665eb6128f","height":1336,"width":2874,"currHeight":1336,"currWidth":2874,"natrualHeight":1336,"natrualWidth":2874,"pluginName":"imageUpload","scale":1,"src":"https%3A%2F%2Finternal-api-drive-stream.larksuite.com%2Fspace%2Fapi%2Fbox%2Fstream%2Fdownload%2Fpreview%2FSU5fbyvecoml7Jx5LSGuHqUzsxc%2F%3Fpreview_type%3D16","file_token":"SU5fbyvecoml7Jx5LSGuHqUzsxc","image_type":"image/png","size":661623,"comments":[]}]}" class="image-uploaded gallery old-record-id-ISoMdJSgZoSoAExybFbuovj5sTc"><img src="https://mexc-rainbown-activityimages.s3.ap-northeast-1.amazonaws.com/banner/F20260205174215831XxJkRH2oAmnkH9.png" data-single-block="true" data-snapshot="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" data-suite="eyJmaWxlVG9rZW4iOiJTVTVmYnl2ZWNvbWw3Sng1TFNHdUhxVXpzeGMiLCJvYmpUeXBlIjoiZG9jeCIsIm9ialRva2VuIjoiSVNvTWRKU2dab1NvQUV4eWJGYnVvdmo1c1RjIiwib3JpZ2luU3JjIjoiaHR0cHM6Ly9pbnRlcm5hbC1hcGktZHJpdmUtc3RyZWFtLmxhcmtzdWl0ZS5jb20vc3BhY2UvYXBpL2JveC9zdHJlYW0vZG93bmxvYWQvcHJldmlldy9TVTVmYnl2ZWNvbWw3Sng1TFNHdUhxVXpzeGMvP3ByZXZpZXdfdHlwZT0xNiJ9" data-src="https://internal-api-drive-stream.larksuite.com/space/api/box/stream/download/all/SU5fbyvecoml7Jx5LSGuHqUzsxc/?mount_node_token=ISoMdJSgZoSoAExybFbuovj5sTc&mount_point=docx_image" data-width="2874" data-height="1336" data-lark-image-uri="drivetoken://SU5fbyvecoml7Jx5LSGuHqUzsxc" data-lark-image-width="2874" data-lark-image-height="1336" data-host-from-cloud="true" style="max-width: 100%; height: auto; border-radius: 12px; font-size: 16px; width: 750px;"></div><div class="ace-line ace-line old-record-id-VWOcdTYTRo7Te8xPOqXu1Nljs81"><span style="font-size: 16px;"><br></span></div><h2 class="heading-2 ace-line old-record-id-XaNydXJiqomvlNxn5vsupGEosJf"><strong>10. How to Avoid Liquidation</strong></h2><div class="ace-line ace-line old-record-id-YAABdAxJyoTYAKxx3kxu5tE3sPc"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-BB51dhWQfo5hENxWk7LuSLoBs0g"><span style="font-size: 16px;">Before engaging in Futures trading, it is important to set realistic investment expectations and implement proper risk management, given the high volatility of Futures markets. This way, even if the market experiences sharp fluctuations, your losses can remain within a controllable range. For more details on preventing liquidation, please refer to: <a data-lark-is-custom="true" href="https://www.mexc.com/learn/article/17827791516472">How to Prevent Liquidation in Futures Trading.</a></span></div><div class="ace-line ace-line old-record-id-ZMbwdCYfRoGasXx2tzmueqsesue"><span style="font-size: 16px;"><br></span></div><h3 class="heading-3 ace-line old-record-id-AsyGdKPvzow6vRxSY6ruWPXAsMc"><span style="font-size: 16px;">10.1 Add Margin or Reduce Leverage</span></h3><div class="ace-line ace-line old-record-id-SCAKdFNkeornfQxJj57uCR9Csvh"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-AfgUdtaDSoOVW9xQs1furnM6sMc"><span style="font-size: 16px;">You can reduce the risk of liquidation by adding additional margin or lowering your opening leverage. This increases the distance between the liquidation price and the market price, making liquidation less likely.</span></div><div class="ace-line ace-line old-record-id-TPIkdZ3rxoylgNxJoUYuy0kasZE"><span style="font-size: 16px;"><br></span></div><h3 class="heading-3 ace-line old-record-id-BLvKds3oAoRupex5itfulzlWsfh"><span style="font-size: 16px;">10.2 Set Stop-Loss Orders</span></h3><div class="ace-line ace-line old-record-id-BCr7dETcCovR5wx0Iq2ufbHUsNH"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-XW0qduFpfoQ1Tkx7TFxuZu5bsHc"><span style="font-size: 16px;">Setting a stop-loss price is one of the most effective ways to avoid liquidation. It helps you limit losses and reduce the risk of your position being liquidated.</span></div><div class="ace-line ace-line old-record-id-XVXIdJiYmoIFkPxgupmu940Wsyh"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-GQrMdnVcIoAH8rxZhxnuBKoqspg"><span style="font-size: 16px;">Note that stop-loss or take-profit orders may fail to execute due to extreme market volatility or insufficient position size to close. If triggered successfully, the order will be executed as a market order. However, because market orders are affected by volatility, the actual fill price may differ from the stop-loss price you set.</span></div><div class="ace-line ace-line old-record-id-NPxJdVnkBox8kDx1uRXuvEvcsjf"><span style="font-size: 16px;"><br></span></div><h3 class="heading-3 ace-line old-record-id-ShHYdxLgHoWG8CxHxmnu2S1qswc"><span style="font-size: 16px;">10.3 Set Liquidation Alerts</span></h3><div class="ace-line ace-line old-record-id-MxcrdptkOofAHYx73lcugF5vsQh"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-QLq1dTQrVod7T7x2KgZuWGEns6e"><span style="font-size: 16px;">In the Preferences section of the Futures trading page, you can enable Liquidation Alerts and set a margin rate threshold. When the maintenance margin rate of a position reaches or exceeds the threshold you set, MEXC will issue an alert. Each position can receive at most one alert every 30 minutes.</span></div><div class="ace-line ace-line old-record-id-MpYudK3o9opzhSx8KatuGmN9slm"><span style="font-size: 16px;"><br></span></div><div style="text-align:center" data-type="image" data-ace-gallery-json="{"items":[{"uuid":"82c7f17b-849e-4d89-8771-b19d30d048aa","height":1470,"width":2934,"currHeight":1470,"currWidth":2934,"natrualHeight":1470,"natrualWidth":2934,"pluginName":"imageUpload","scale":1,"src":"https%3A%2F%2Finternal-api-drive-stream.larksuite.com%2Fspace%2Fapi%2Fbox%2Fstream%2Fdownload%2Fpreview%2FQCBQbbtDjo8dJfxFW80urrzdsMe%2F%3Fpreview_type%3D16","file_token":"QCBQbbtDjo8dJfxFW80urrzdsMe","image_type":"image/png","size":703648,"comments":[]}]}" class="image-uploaded gallery old-record-id-DwZhdS46zoASIzxv4souO1zPsCD"><img src="https://mexc-rainbown-activityimages.s3.ap-northeast-1.amazonaws.com/banner/F20260205174211290qiscVIh4ey5vxA.png" data-single-block="true" data-snapshot="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" data-suite="eyJmaWxlVG9rZW4iOiJRQ0JRYmJ0RGpvOGRKZnhGVzgwdXJyemRzTWUiLCJvYmpUeXBlIjoiZG9jeCIsIm9ialRva2VuIjoiRHdaaGRTNDZ6b0FTSXp4djRzb3VPMXpQc0NEIiwib3JpZ2luU3JjIjoiaHR0cHM6Ly9pbnRlcm5hbC1hcGktZHJpdmUtc3RyZWFtLmxhcmtzdWl0ZS5jb20vc3BhY2UvYXBpL2JveC9zdHJlYW0vZG93bmxvYWQvcHJldmlldy9RQ0JRYmJ0RGpvOGRKZnhGVzgwdXJyemRzTWUvP3ByZXZpZXdfdHlwZT0xNiJ9" data-src="https://internal-api-drive-stream.larksuite.com/space/api/box/stream/download/all/QCBQbbtDjo8dJfxFW80urrzdsMe/?mount_node_token=DwZhdS46zoASIzxv4souO1zPsCD&mount_point=docx_image" data-width="2934" data-height="1470" data-lark-image-uri="drivetoken://QCBQbbtDjo8dJfxFW80urrzdsMe" data-lark-image-width="2934" data-lark-image-height="1470" data-host-from-cloud="true" style="max-width: 100%; height: auto; border-radius: 12px; font-size: 16px; width: 750px;"></div><div class="ace-line ace-line old-record-id-I34odhzqAoWfGKxJywiuDZ0vs1d"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-S90udxIj9ogLxexhFlvunrzWsZb"><br></div></div>
Introduction to Self-Trade Prevention (STP)
<div><h2><span style="font-family:'arial' , 'helvetica' , sans-serif"><strong style="font-weight:bolder">1. What is self-trade prevention (STP)?</strong></span></h2><div><br /></div><div><span style="font-size:16px"><span style="font-family:'arial' , 'helvetica' , sans-serif">Self-Trade Prevention (STP) is a trading mechanism designed to prevent buy and sell orders from the same user (or different accounts belonging to the same entity) from unintentionally matching with each other in the trading system. The STP mechanism is especially important for maintaining a fair and transparent trading environment, helping to prevent market price manipulation and ensuring that trading activity accurately reflects genuine market interest.</span></span></div><div><br /></div><div><span style="font-size:16px"><span style="font-family:'arial' , 'helvetica' , sans-serif">MEXC's Self-Trade Prevention (STP) mechanism is used to prevent orders from the same user or users within the same "tradeGroupId" from matching with each other.</span></span></div><div><br /></div><h2><span style="font-family:'arial' , 'helvetica' , sans-serif"><strong style="font-weight:bolder">2. What is self-trading?</strong></span></h2><div><br /></div><div><span style="font-size:16px"><span style="font-family:'arial' , 'helvetica' , sans-serif">Possible situations where self-trading can occur:</span></span></div><div style="text-align:left"><span style="font-size:16px"><span style="font-family:'arial' , 'helvetica' , sans-serif">1) Trades between orders from the same account.</span></span></div><div style="text-align:left"><span style="font-size:16px"><span style="font-family:'arial' , 'helvetica' , sans-serif">2) Trades between different sub-accounts under the same main account.</span></span></div><div><br /></div><h2><span style="font-family:'arial' , 'helvetica' , sans-serif"><strong style="font-weight:bolder">3. What happens when STP is triggered?</strong></span></h2><div><br /></div><div><span style="font-size:16px"><span style="font-family:'arial' , 'helvetica' , sans-serif">When an order triggers the self-trade prevention mechanism, the system may apply one of the following four modes:</span></span></div><div><br /></div><div style="text-align:left"><span style="font-size:16px"><span style="font-family:'arial' , 'helvetica' , sans-serif"><strong style="font-weight:bolder">1) NONE Mode: </strong>The order is not affected by the STP mechanism. The system does not check the account or tradeGroupId, and the trade executes normally.</span></span></div><div><br /></div><div style="text-align:left"><span style="font-size:16px"><span style="font-family:'arial' , 'helvetica' , sans-serif"><strong style="font-weight:bolder">2) CANCEL_TAKER Mode: </strong>The remaining quantity of the taker order is immediately canceled to prevent the trade from executing.</span></span></div><div><br /></div><div style="text-align:left"><span style="font-size:16px"><span style="font-family:'arial' , 'helvetica' , sans-serif"><strong style="font-weight:bolder">3) CANCEL_MAKER Mode: </strong>The remaining quantity of the maker order is immediately canceled to prevent the trade from executing.</span></span></div><div><br /></div><div style="text-align:left"><span style="font-size:16px"><span style="font-family:'arial' , 'helvetica' , sans-serif"><strong style="font-weight:bolder">4) CANCEL_BOTH Mode: </strong>The remaining quantities of both the taker and maker orders are simultaneously canceled to prevent the trade from executing.</span></span></div><div><br /></div><h2><span style="font-family:'arial' , 'helvetica' , sans-serif"><strong style="font-weight:bolder">4. How to set the STP Mode for an order</strong></span></h2><div><br /></div><div><span style="font-size:16px"><span style="font-family:'arial' , 'helvetica' , sans-serif">STP mode can be set using the stpMode parameter in the following API calls:</span></span></div><ul start="1" style="list-style-type:disc"><li style="text-align:left"><div><span style="font-size:16px"><span style="font-family:'arial' , 'helvetica' , sans-serif">POST /api/v3/order</span></span></div></li><li style="text-align:left"><div><span style="font-size:16px"><span style="font-family:'arial' , 'helvetica' , sans-serif">POST /api/v3/batchOrders</span></span></div></li></ul><div><br /></div><h2><span style="font-family:'arial' , 'helvetica' , sans-serif"><strong style="font-weight:bolder">5. What is "tradeGroupId"?</strong></span></h2><div><br /></div><div><span style="font-size:16px"><span style="font-family:'arial' , 'helvetica' , sans-serif">Accounts sharing the same tradeGroupId are treated as belonging to the same trading group. Orders submitted by members of the same trading group may trigger STP depending on the taker order's STP mode.</span></span></div><div><br /></div><h2><span style="font-family:'arial' , 'helvetica' , sans-serif"><strong style="font-weight:bolder">6. Which trading pairs support STP?</strong></span></h2><div><br /></div><div><span style="font-size:16px"><span style="font-family:'arial' , 'helvetica' , sans-serif">All trading pairs.</span></span></div><div><br /></div><h2><span style="font-family:'arial' , 'helvetica' , sans-serif"><strong style="font-weight:bolder">7. Which order types Support STP?</strong></span></h2><div><br /></div><div><span style="font-size:16px"><span style="font-family:'arial' , 'helvetica' , sans-serif">Only the following order types support STP:</span></span></div><ul start="1" style="list-style-type:disc"><li style="text-align:left"><div><span style="font-size:16px"><span style="font-family:'arial' , 'helvetica' , sans-serif">LIMIT orders</span></span></div></li><li style="text-align:left"><div><span style="font-size:16px"><span style="font-family:'arial' , 'helvetica' , sans-serif">MARKET orders</span></span></div></li><li style="text-align:left"><div><span style="font-size:16px"><span style="font-family:'arial' , 'helvetica' , sans-serif">LIMIT_MAKER (post-only) orders</span></span></div></li><li style="text-align:left"><div><span style="font-size:16px"><span style="font-family:'arial' , 'helvetica' , sans-serif">IMMEDIATE_OR_CANCEL (IOC) orders</span></span></div></li></ul><div><span style="font-size:16px"><span style="font-family:'arial' , 'helvetica' , sans-serif">Note: STP is not effective when the type is set to FOK (Fill-Or-Kill).</span></span></div><div><br /></div></div>