Limits - Docs

Initial Margin Fraction [IMF]

The total IMF is the minimum OMF needed to open a new order.

The base IMF is the IMF per market computed as:
- For derivative markets, where leverage_max is the max allowed initial leverage per market (ex: 20):
$IMF_{base} = \frac{1}{leverage_{max}}$
- For borrowing, where W is the weight of the asset being borrowed:

IMF_{base} = \frac{1.1}{W} - 1

The total IMF is computed as the average of each market's base IMFs weighted by the position open notional for that market

IMF_{total} = \frac{\sum position \space open \space notional \times IMF_{base}}{total \space position \space open \space notional}

Warning!

OMF needs to be above the IMF to increase a position.

Warning!

OMF needs to be above the IMF after withdrawal.

The total CMF is the minimum OMF needed to not have your open orders cancelled.

CMF_{base} = \frac{5 \times IMF_{base}}{8}

For borrowing, the CMF base is the same as the borrow IMF base
The total CMF is computed as the average of each market’s CMF weighted by the position open notional for that market

CMF_{total} = \frac{\sum position \space open \space notional \times CMF_{base}}{total \space position \space open \space notional}

The total MMF is the minimum MF needed to not be liquidated.

MMF_{base} = \frac{IMF_{base}}{2}

MMF_{base} = \frac{1.03}{W} - 1

The total MMF is computed as the average of each market’s MMF weighted by the position notional for that market

MMF_{total} = \frac{\sum position \space notional \times MMF_{base}}{total \space position \space notional}

Warning!

MF needs to be above the MMF to place new orders.