Maintenance Margin Rate

1. What is the Maintenance Margin Rate (MMR)?

In order to prevent significant position liquidations from impacting market liquidity, IBIT's contract products implement a tiered maintenance margin ratio system. It means that the larger a user's open position, the higher the minimum maintenance margin ratio, and the lower the maximum selectable leverage.

Under isolated margin mode, the position size, position tier, and the required minimum maintenance margin ratio for each direction are calculated independently.

• Maintenance Margin (Long) = Opening Position Value * MMR + Opening Position Value * max(0, Funding Rate) + Estimated Trading Fees
• Maintenance Margin (Short) = Opening Position Value * MMR - Opening Position Value * min(0, Funding Rate) + Estimated Trading Fees

2. Why is a Tiered Maintenance Margin Rate System Implemented?

To prevent large position liquidations from impacting market liquidity and causing substantial losses due to significant liquidation events, a tiered maintenance margin rate system is implemented. This means that the larger the user's position, the higher the maintenance margin rate, and the lower the maximum selectable leverage.

3. Maintenance Margin

Maintenance Margin is the minimum amount of margin required for a trader to continue holding a position. It adjusts based on the risk limit chosen by the trader. By default, the maintenance margin for all trading pairs starts from the lowest level in their respective risk limit tables.

When the margin level for a position falls below the maintenance margin level, the position will be forcefully liquidated.

Order Value = Contract Amount x Entry Price

Maintenance Margin = Maintenance Margin Rate x Order Value

The Maintenance Margin Rate (MMR) required for a position is determined based on the margin level requirements of the position value.

Example:

A trader uses 50x leverage in isolated mode, opens a long position of 1 BTC with USDT 10,000.

Initial Margin = 1 BTC x 10,000 x 1/50 = 200 USDT
Maintenance Margin = 1 BTC x 10,000 x 0.5% = 50 USDT

This means the maximum loss this position can bear is 150 USDT (200 USDT - 50 USDT) before being forcibly liquidated.

4. How to Calculate User Position and Tiers?

In the Isolated margin mode, the quantity and tier are calculated together for all directions of a contract, and each direction of a contract calculates the required maintenance margin rate separately.

In the Cross margin mode, the quantity and tier are calculated together for all directions of a contract, and the required maintenance margin rate is calculated for all directions of all contracts together.

5. Maintenance Margin Rate Tiers for Each Currency

Trading	Level	Max Positon (USDT)	MMR	Initial Margin Rate	Leverage
BTCUSDT	1	60000	0.001	0.002	500
BTCUSDT	2	100000	0.003	0.005	200
BTCUSDT	3	500000	0.003	0.008	125
BTCUSDT	4	800000	0.004	0.01	100
BTCUSDT	5	3000000	0.008	0.02	50
BTCUSDT	6	7500000	0.012	0.025	40
BTCUSDT	7	12000000	0.020	0.05	20
BTCUSDT	8	15000000	0.030	0.1	10
BTCUSDT	9	75000000	0.040	0.2	5
ETHUSDT	1	60000	0.001	0.002	500
ETHUSDT	2	100000	0.003	0.005	200
ETHUSDT	3	500000	0.003	0.008	125
ETHUSDT	4	800000	0.004	0.01	100
ETHUSDT	5	3000000	0.008	0.02	50
ETHUSDT	6	7500000	0.012	0.025	40
ETHUSDT	7	12000000	0.016	0.05	20
ETHUSDT	8	15000000	0.030	0.1	10
ETHUSDT	9	75000000	0.040	0.2	5
SOLUSDT	1	40000	0.003	0.005	200
SOLUSDT	2	100000	0.010	0.02	50
SOLUSDT	3	200000	0.020	0.05	20
SOLUSDT	4	500000	0.030	0.1	10
SOLUSDT	5	1000000	0.040	0.2	5
XRPUSDT	1	30000	0.001	0.002	500
XRPUSDT	2	40000	0.003	0.005	200
XRPUSDT	3	100000	0.010	0.02	50
XRPUSDT	4	200000	0.020	0.05	20
XRPUSDT	5	500000	0.030	0.1	10
XRPUSDT	6	1000000	0.040	0.2	5
AVAXUSDT	1	40000	0.003	0.005	200
AVAXUSDT	2	100000	0.010	0.02	50
AVAXUSDT	3	200000	0.020	0.05	20
AVAXUSDT	4	500000	0.030	0.1	10
AVAXUSDT	5	1000000	0.040	0.2	5
DOGEUSDT	1	30000	0.001	0.002	500
DOGEUSDT	2	40000	0.003	0.005	200
DOGEUSDT	3	100000	0.010	0.02	50
DOGEUSDT	4	200000	0.020	0.05	20
DOGEUSDT	5	500000	0.030	0.1	10
DOGEUSDT	6	1000000	0.040	0.2	5
LINKUSDT	1	100000	0.010	0.02	50
LINKUSDT	2	200000	0.020	0.05	20
LINKUSDT	3	500000	0.030	0.1	10
LINKUSDT	4	1000000	0.040	0.2	5
BNBUSDT	1	40000	0.003	0.005	200
BNBUSDT	2	100000	0.010	0.02	50
BNBUSDT	3	200000	0.020	0.05	20
BNBUSDT	4	500000	0.030	0.1	10
BNBUSDT	5	1000000	0.040	0.2	5
MATICUSDT	1	40000	0.003	0.005	200
MATICUSDT	2	100000	0.010	0.02	50
MATICUSDT	3	200000	0.020	0.05	20
MATICUSDT	4	500000	0.030	0.1	10
MATICUSDT	5	1000000	0.040	0.2	5
LTCUSDT	1	30000	0.001	0.002	500
LTCUSDT	2	40000	0.003	0.005	200
LTCUSDT	3	100000	0.010	0.02	50
LTCUSDT	4	200000	0.020	0.05	20
LTCUSDT	5	500000	0.030	0.1	10
LTCUSDT	6	1000000	0.040	0.2	5
WLDUSDT	1	200000	0.020	0.05	20
WLDUSDT	2	500000	0.030	0.1	10
WLDUSDT	3	1000000	0.040	0.2	5
DYDXUSDT	1	200000	0.020	0.05	20
DYDXUSDT	2	500000	0.030	0.1	10
DYDXUSDT	3	1000000	0.040	0.2	5
FILUSDT	1	40000	0.003	0.005	200
FILUSDT	2	100000	0.010	0.02	50
FILUSDT	3	200000	0.020	0.05	20
FILUSDT	4	500000	0.030	0.1	10
FILUSDT	5	1000000	0.040	0.2	5
1000PEPEUSDT	1	40000	0.003	0.005	200
1000PEPEUSDT	2	200000	0.020	0.05	20
1000PEPEUSDT	3	500000	0.030	0.1	10
1000PEPEUSDT	4	1000000	0.040	0.2	5
ETCUSDT	1	100000	0.010	0.02	50
ETCUSDT	2	200000	0.020	0.05	20
ETCUSDT	3	500000	0.030	0.1	10
ETCUSDT	4	1000000	0.040	0.2	5
ORDIUSDT	1	10000	0.001	0.002	500
ORDIUSDT	2	100000	0.010	0.02	50
ORDIUSDT	3	200000	0.020	0.05	20
ORDIUSDT	4	500000	0.030	0.1	10
ORDIUSDT	5	1000000	0.040	0.2	5
TIAUSDT	1	200000	0.020	0.05	20
TIAUSDT	2	500000	0.030	0.1	10
TIAUSDT	3	1000000	0.040	0.2	5
ADAUSDT	1	30000	0.001	0.002	500
ADAUSDT	2	40000	0.003	0.005	200
ADAUSDT	3	200000	0.020	0.05	20
ADAUSDT	4	500000	0.030	0.1	10
ADAUSDT	5	1000000	0.040	0.2	5
ARBUSDT	1	100000	0.010	0.02	50
ARBUSDT	2	200000	0.020	0.05	20
ARBUSDT	3	500000	0.030	0.1	10
ARBUSDT	4	1000000	0.040	0.2	5
UNIUSDT	1	100000	0.010	0.02	50
UNIUSDT	2	200000	0.020	0.05	20
UNIUSDT	3	500000	0.030	0.1	10
UNIUSDT	4	1000000	0.040	0.2	5
TRXUSDT	1	30000	0.001	0.002	500
TRXUSDT	2	40000	0.003	0.005	200
TRXUSDT	3	100000	0.010	0.02	50
TRXUSDT	4	200000	0.020	0.05	20
TRXUSDT	5	500000	0.030	0.1	10
TRXUSDT	6	1000000	0.040	0.2	5
1000SATSUSDT	1	40000	0.003	0.005	200
1000SATSUSDT	2	100000	0.010	0.02	50
1000SATSUSDT	3	200000	0.020	0.05	20
1000SATSUSDT	4	500000	0.030	0.1	10
1000SATSUSDT	5	1000000	0.040	0.2	5
1000RATSUSDT	1	100000	0.010	0.02	50
1000RATSUSDT	2	200000	0.020	0.05	20
1000RATSUSDT	3	500000	0.030	0.1	10
1000RATSUSDT	4	1000000	0.040	0.2	5
ACEUSDT	1	100000	0.010	0.02	50
ACEUSDT	2	200000	0.020	0.05	20
ACEUSDT	3	500000	0.030	0.1	10
ACEUSDT	4	1000000	0.040	0.2	5
BIGTIMEUSDT	1	40000	0.003	0.005	200
BIGTIMEUSDT	2	100000	0.010	0.02	50
BIGTIMEUSDT	3	200000	0.020	0.05	20
BIGTIMEUSDT	4	500000	0.030	0.1	10
BIGTIMEUSDT	5	1000000	0.040	0.2	5
NFPUSDT	1	100000	0.010	0.02	50
NFPUSDT	2	200000	0.020	0.05	20
NFPUSDT	3	500000	0.030	0.1	10
NFPUSDT	4	1000000	0.040	0.2	5
FETUSDT	1	100000	0.010	0.02	50
FETUSDT	2	200000	0.020	0.05	20
FETUSDT	3	500000	0.030	0.1	10
FETUSDT	4	1000000	0.040	0.2	5
BAKEUSDT	1	40000	0.003	0.005	200
BAKEUSDT	2	100000	0.010	0.02	50
BAKEUSDT	3	200000	0.020	0.05	20
BAKEUSDT	4	500000	0.030	0.1	10
BAKEUSDT	5	1000000	0.040	0.2	5
CAKEUSDT	1	100000	0.010	0.02	50
CAKEUSDT	2	200000	0.020	0.05	20
CAKEUSDT	3	500000	0.030	0.1	10
CAKEUSDT	4	1000000	0.040	0.2	5
ONDOUSDT	1	100000	0.010	0.02	50
ONDOUSDT	2	200000	0.020	0.05	20
ONDOUSDT	3	500000	0.030	0.1	10
ONDOUSDT	4	1000000	0.040	0.2	5
BSVUSDT	1	100000	0.010	0.02	50
BSVUSDT	2	200000	0.020	0.05	20
BSVUSDT	3	500000	0.030	0.1	10
BSVUSDT	4	1000000	0.040	0.2	5
MANTAUSDT	1	100000	0.010	0.02	50
MANTAUSDT	2	200000	0.020	0.05	20
MANTAUSDT	3	500000	0.030	0.1	10
MANTAUSDT	4	1000000	0.040	0.2	5
SUIUSDT	1	100000	0.010	0.02	50
SUIUSDT	2	200000	0.020	0.05	20
SUIUSDT	3	500000	0.030	0.1	10
SUIUSDT	4	1000000	0.040	0.2	5
UMAUSDT	1	100000	0.010	0.02	50
UMAUSDT	2	200000	0.020	0.05	20
UMAUSDT	3	500000	0.030	0.1	10
UMAUSDT	4	1000000	0.040	0.2	5
BCHUSDT	1	1000	0.010	0.02	50
BCHUSDT	2	2000	0.020	0.05	20
BCHUSDT	3	5000	0.030	0.1	10
BCHUSDT	4	10000	0.040	0.2	5
STRKUSDT	1	100000	0.010	0.02	50
STRKUSDT	2	200000	0.020	0.05	20
STRKUSDT	3	500000	0.030	0.1	10
STRKUSDT	4	1000000	0.040	0.2	5
CKBUSDT	1	100000	0.010	0.02	50
CKBUSDT	2	200000	0.020	0.05	20
CKBUSDT	3	500000	0.030	0.1	10
CKBUSDT	4	1000000	0.040	0.2	5
PIXELUSDT	1	100000	0.010	0.02	50
PIXELUSDT	2	200000	0.020	0.05	20
PIXELUSDT	3	500000	0.030	0.1	10
PIXELUSDT	4	1000000	0.040	0.2	5
ENSUSDT	1	100000	0.010	0.02	50
ENSUSDT	2	200000	0.020	0.05	20
ENSUSDT	3	500000	0.030	0.1	10
ENSUSDT	4	1000000	0.040	0.2	5
LPTUSDT	1	100000	0.010	0.02	50
LPTUSDT	2	200000	0.020	0.05	20
LPTUSDT	3	500000	0.030	0.1	10
LPTUSDT	4	1000000	0.040	0.2	5
STXUSDT	1	100000	0.010	0.02	50
STXUSDT	2	200000	0.020	0.05	20
STXUSDT	3	500000	0.030	0.1	10
STXUSDT	4	1000000	0.040	0.2	5
ALTUSDT	1	100000	0.010	0.02	50
ALTUSDT	2	200000	0.020	0.05	20
ALTUSDT	3	500000	0.030	0.1	10
ALTUSDT	4	1000000	0.040	0.2	5
BOMEUSDT	1	100000	0.010	0.02	50
BOMEUSDT	2	200000	0.020	0.05	20
BOMEUSDT	3	500000	0.030	0.1	10
BOMEUSDT	4	1000000	0.040	0.2	5
CELOUSDT	1	100000	0.010	0.02	50
CELOUSDT	2	200000	0.020	0.05	20
CELOUSDT	3	500000	0.030	0.1	10
CELOUSDT	4	1000000	0.040	0.2	5
FLOWUSDT	1	100000	0.010	0.02	50
FLOWUSDT	2	200000	0.020	0.05	20
FLOWUSDT	3	500000	0.030	0.1	10
FLOWUSDT	4	1000000	0.040	0.2	5
AEVOUSDT	1	100000	0.010	0.02	50
AEVOUSDT	2	200000	0.020	0.05	20
AEVOUSDT	3	500000	0.030	0.1	10
AEVOUSDT	4	1000000	0.040	0.2	5
ALICEUSDT	1	100000	0.010	0.02	50
ALICEUSDT	2	200000	0.020	0.05	20
ALICEUSDT	3	500000	0.030	0.1	10
ALICEUSDT	4	1000000	0.040	0.2	5
WIFUSDT	1	100000	0.010	0.02	50
WIFUSDT	2	200000	0.020	0.05	20
WIFUSDT	3	500000	0.030	0.1	10
WIFUSDT	4	1000000	0.040	0.2	5
CRVUSDT	1	100000	0.010	0.02	50
CRVUSDT	2	200000	0.020	0.05	20
CRVUSDT	3	500000	0.030	0.1	10
CRVUSDT	4	1000000	0.040	0.2	5
IDUSDT	1	100000	0.010	0.02	50
IDUSDT	2	200000	0.020	0.05	20
IDUSDT	3	500000	0.030	0.1	10
IDUSDT	4	1000000	0.040	0.2	5
JUPUSDT	1	100000	0.010	0.02	50
JUPUSDT	2	200000	0.020	0.05	20
JUPUSDT	3	500000	0.030	0.1	10
JUPUSDT	4	1000000	0.040	0.2	5
SAGAUSDT	1	100000	0.010	0.02	50
SAGAUSDT	2	200000	0.020	0.05	20
SAGAUSDT	3	500000	0.030	0.1	10
SAGAUSDT	4	1000000	0.040	0.2	5
WUSDT	1	100000	0.010	0.02	50
WUSDT	2	200000	0.020	0.05	20
WUSDT	3	500000	0.030	0.1	10
WUSDT	4	1000000	0.040	0.2	5
TONUSDT	1	100000	0.010	0.02	50
TONUSDT	2	200000	0.020	0.05	20
TONUSDT	3	500000	0.030	0.1	10
TONUSDT	4	1000000	0.040	0.2	5
MERLUSDT	1	100000	0.010	0.02	50
MERLUSDT	2	200000	0.020	0.05	20
MERLUSDT	3	500000	0.030	0.1	10
MERLUSDT	4	1000000	0.040	0.2	5
SAGAUSDT	1	100000	0.010	0.02	50
SAGAUSDT	2	200000	0.020	0.05	20
SAGAUSDT	3	500000	0.030	0.1	10
SAGAUSDT	4	1000000	0.040	0.2	5
WUSDT	1	100000	0.010	0.02	50
WUSDT	2	200000	0.020	0.05	20
WUSDT	3	500000	0.030	0.1	10
WUSDT	4	1000000	0.040	0.2	5
TONUSDT	1	100000	0.010	0.02	50
TONUSDT	2	200000	0.020	0.05	20
TONUSDT	3	500000	0.030	0.1	10
TONUSDT	4	1000000	0.040	0.2	5
MERLUSDT	1	100000	0.010	0.02	50
MERLUSDT	2	200000	0.020	0.05	20
MERLUSDT	3	500000	0.030	0.1	10
MERLUSDT	4	1000000	0.040	0.2	5
PEOPLEUSDT	1	100000	0.010	0.02	50
PEOPLEUSDT	2	200000	0.020	0.05	20
PEOPLEUSDT	3	500000	0.030	0.1	10
PEOPLEUSDT	4	1000000	0.040	0.2	5
BBUSDT	1	100000	0.010	0.02	50
BBUSDT	2	200000	0.020	0.05	20
BBUSDT	3	500000	0.030	0.1	10
BBUSDT	4	1000000	0.040	0.2	5
NOTUSDT	1	100000	0.010	0.02	50
NOTUSDT	2	200000	0.020	0.05	20
NOTUSDT	3	500000	0.030	0.1	10
NOTUSDT	4	1000000	0.040	0.2	5
ZROUSDT	1	100000	0.010	0.02	50
ZROUSDT	2	200000	0.020	0.05	20
ZROUSDT	3	500000	0.030	0.1	10
ZROUSDT	4	1000000	0.040	0.2	5
ZKUSDT	1	100000	0.010	0.02	50
ZKUSDT	2	200000	0.020	0.05	20
ZKUSDT	3	500000	0.030	0.1	10
ZKUSDT	4	1000000	0.040	0.2	5
IOUSDT	1	100000	0.010	0.02	50
IOUSDT	2	200000	0.020	0.05	20
IOUSDT	3	500000	0.030	0.1	10
IOUSDT	4	1000000	0.040	0.2	5
1MBABYDOGEUSDT	1	100000	0.010	0.02	50
1MBABYDOGEUSDT	2	200000	0.020	0.05	20
1MBABYDOGEUSDT	3	500000	0.030	0.1	10
1MBABYDOGEUSDT	4	1000000	0.040	0.2	5
NEIROUSDT	1	100000	0.010	0.02	50
NEIROUSDT	2	200000	0.020	0.05	20
NEIROUSDT	3	500000	0.030	0.1	10
NEIROUSDT	4	1000000	0.040	0.2	5
TURBOUSDT	1	100000	0.010	0.02	50
TURBOUSDT	2	200000	0.020	0.05	20
TURBOUSDT	3	500000	0.030	0.1	10
TURBOUSDT	4	1000000	0.040	0.2	5
DOGSUSDT	1	100000	0.010	0.02	50
DOGSUSDT	2	200000	0.020	0.05	20
DOGSUSDT	3	500000	0.030	0.1	10
DOGSUSDT	4	1000000	0.040	0.2	5
POLUSDT	1	100000	0.010	0.02	50
POLUSDT	2	200000	0.020	0.05	20
POLUSDT	3	500000	0.030	0.1	10
POLUSDT	4	1000000	0.040	0.2	5
1000XUSDT	1	100000	0.010	0.02	50
1000XUSDT	2	200000	0.020	0.05	20
1000XUSDT	3	500000	0.030	0.1	10
1000XUSDT	4	1000000	0.040	0.2	5
ACTUSDT	1	100000	0.010	0.02	50
ACTUSDT	2	200000	0.020	0.05	20
ACTUSDT	3	500000	0.030	0.1	10
ACTUSDT	4	1000000	0.040	0.2	5
COWUSDT	1	100000	0.010	0.02	50
COWUSDT	2	200000	0.020	0.05	20
COWUSDT	3	500000	0.030	0.1	10
COWUSDT	4	1000000	0.040	0.2	5
GOATUSDT	1	100000	0.010	0.02	50
GOATUSDT	2	200000	0.020	0.05	20
GOATUSDT	3	500000	0.030	0.1	10
GOATUSDT	4	1000000	0.040	0.2	5
HMSTRUSDT	1	100000	0.010	0.02	50
HMSTRUSDT	2	200000	0.020	0.05	20
HMSTRUSDT	3	500000	0.030	0.1	10
HMSTRUSDT	4	1000000	0.040	0.2	5
CATIUSDT	1	100000	0.010	0.02	50
CATIUSDT	2	200000	0.020	0.05	20
CATIUSDT	3	500000	0.030	0.1	10
CATIUSDT	4	1000000	0.040	0.2	5
MOVEUSDT	1	100000	0.010	0.02	50
MOVEUSDT	2	200000	0.020	0.05	20
MOVEUSDT	3	500000	0.030	0.1	10
MOVEUSDT	4	1000000	0.040	0.2	5
THEUSDT	1	100000	0.010	0.02	50
THEUSDT	2	200000	0.020	0.05	20
THEUSDT	3	500000	0.030	0.1	10
THEUSDT	4	1000000	0.040	0.2	5
ACXUSDT	1	100000	0.010	0.02	50
ACXUSDT	2	200000	0.020	0.05	20
ACXUSDT	3	500000	0.030	0.1	10
ACXUSDT	4	1000000	0.040	0.2	5
HBARUSDT	1	100000	0.010	0.02	50
HBARUSDT	2	200000	0.020	0.05	20
HBARUSDT	3	500000	0.030	0.1	10
HBARUSDT	4	1000000	0.040	0.2	5
AAVEUSDT	1	100000	0.010	0.02	50
AAVEUSDT	2	200000	0.020	0.05	20
AAVEUSDT	3	500000	0.030	0.1	10
AAVEUSDT	4	1000000	0.040	0.2	5
COMPUSDT	1	100000	0.010	0.02	50
COMPUSDT	2	200000	0.020	0.05	20
COMPUSDT	3	500000	0.030	0.1	10
COMPUSDT	4	1000000	0.040	0.2	5
ICPUSDT	1	100000	0.010	0.02	50
ICPUSDT	2	200000	0.020	0.05	20
ICPUSDT	3	500000	0.030	0.1	10
ICPUSDT	4	1000000	0.040	0.2	5
OMUSDT	1	100000	0.010	0.02	50
OMUSDT	2	200000	0.020	0.05	20
OMUSDT	3	500000	0.030	0.1	10
OMUSDT	4	1000000	0.040	0.2	5

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