Portfolio Margining

BigONE does not offer portfolio margining. Your unrealized profit cannot be used to offset your unrealized loss or to open new positions as margin. If you want to trade the spread between two derivative contracts that share the same underlying asset, you need to realize your profit by closing a position to cover the loss of another contract.

Margin - Risk Limits

Overview

At BigONE, risk limits are implemented on all trading accounts to minimize the occurrence of large liquidations on margined contracts.

In case some users amass larger positions, they pose a risk to others on the exchange who may experience Auto-Deleveraging if the position cannot be fully liquidated. The Step model helps avoid this through increasing margin requirements for large positions.

Dynamic Risk Limits

Every contract has a Base Risk Limit and Step. Combined with the base Maintenance Margin and Initial Margin requirements, these numbers are used to calculate the full margin requirement at each position size.

If the position size increases, the maintenance, and initial margin requirements will increase as well. Users must authorize a higher or lower risk limit on the Positions panel. Margin requirements will automatically increase and decrease as your risk limit changes.

Instrument Risk Limits

Contract	Base Risk Limit (R)	Step (S)	Base Maintenance Margin (M)	Base Initial Margin (I)
BTCUSDT	1,000,000 USDT	Continuous	0.50%	1.00%
BTCUSD	100 BTC	Continuous	0.50%	1.00%

Formulas

Contract settled by BTC, then Q = 0.005%

Contract settled by USDT, then Q = 0.0000005%

Term	Formula	BTCUSD Example (200 BTC)
New Maintenance Margin %	MM = M + MAX(0, Position Value - R) * Q	0.5% + MAX(0, 200 - 100) * 0.005% = 1.00%
New Initial Margin %	IM = I + MAX(0, Position Value - R) * Q	1.00% + MAX(0, 200 - 100) * 0.005% = 1.50%
Maintenance Margin New	MM * Gross Position Value	1.00% * 200 BTC = 2 BTC