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If your net balance for a given token is negative, that means you've withdrawn more than you've deposited.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.
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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
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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)
Last modified 5mo ago
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