Borrow Margin

If your net balance for a given token is negative, that means you've withdrawn more than you've deposited. You are then borrowing that asset. Borrowing an asset counts towards your margin fraction as a spot position, with the price of the asset simply being the spot oracle price.

Example

Alice deposits 500 USDC. Alice withdraws (borrows) 1 SOL. Alice now has net +500 USDC and -1 SOL.

Alice's total account value is now 500 USDC * 1 USD/USDC - 1 SOL * 200 USD/SOL = 300 USD Alice's total position open notional is 1 SOL * 200 USD/SOL = 200 USD

Alice's current margin fraction then is 300 USD/200 USD = 1.5 Alice's IMF is now 1.1/0.9 - 1 = 0.22 Alice's MMF is now 1.03/0.9 - 1 = 0.14

* for a spot initial requirement of 1.1, a spot maintenance requirement of 1.03, and a SOL collateral weight of 0.9 (the weight of SOL may be different in the actual program)