Term

Definition

Formula

Total Equity

Total equity of all assets under the account without considering the collateral value ratio (calculated in USD)

Wallet Balance + Perp & Futures Unrealized P&L + Options Value 

Margin Balance

The total amount that can be used as margin under the account after considering the collateral value ratio (calculated in USD)

Cross Margin

Wallet Balance + Perp & Future Unrealized P&L 

Portfolio Margin

Wallet Balance + Perp & Future Unrealized P&L+ Option Value

Account IM Rate

Initial margin base rate of the account

Cross Margin

Total Initial Margin / (Margin Balance - Haircut Loss + Order Loss)

Portfolio Margin

Total Initial Margin / (Equity - Haircut Loss + Order Loss)

Account MM Rate

Maintenance margin base rate of the account

Cross Margin

Total Maintenance Margin / (Margin Balance - Haircut Loss + Order Loss)

Portfolio Margin

Total Maintenance Margin / (Equity - Haircut Loss + Order Loss)

Total Initial Margin

The total amount of initial margin under the account (calculated in USD)

Σ Initial Margin for Open Positions + Σ Initial Margin for Active Orders + Σ Initial Margin on Borrowed Assets

Total Maintenance Margin

The total amount of maintenance margin under the account (calculated in USD)

Σ Maintenance Margin on Borrowed Asset + Σ Maintenance Margin for Open Positions + Σ Maintenance Margin for Active Orders

Perp & Futures UPL (Unrealized P&L)

Total unrealized profit and loss under USDT Perpetual and USDC Perpetual & Futures Contracts

∑ Asset - Based Perp & Futures Unrealized P&L

Haircut Loss

Total potential value loss of margin due to spot orders (calculated in USD)

∑ Spot Symbol Haircut Loss (All Spot orders)

[Note: See definition of Haircut Loss]

Order Loss

The total potential value loss of the margin caused by the deviation of the perpetual order price from the Mark Price

∑ Asset - Based Order Loss (All Perpetual & Futures orders)

Buy Order Loss: 

Min [0, (Mark Price - Order Price ) × Order Size]

Sell Order Loss: 

Min [0, (Order Price - Mark Price ) × Order Size]

[Note: See definition of Order Loss]

Option Value

Total option value under the account (calculated in USD)

∑ Asset - Based Option Value

Spot Margin Leverage

The spot leverage multiple of the asset dimension selected by the user

Leverage is set at the asset level, not the trading pair. 

For example, if you set leverage for USDC, it will apply whenever you borrow USDC (e.g., to buy BTC in BTC/USDC). Likewise, if you set leverage for BTC, it applies when borrowing BTC to sell.

Term

Definition

Formula

USD Value

The USD value of the asset

(calculated in USD)

–

Wallet Balance

The amount of assets you physically hold in your UTA wallet, calculated in USD.

–

Equity

The equity of the asset without considering the collateral value ratio

Asset Wallet Balance + Perp & Futures Unrealized P&L (USDC and USDT) + Options Value

Perp & Futures UPL (Unrealized P&L)

Unrealized profit and loss under USDT Perpetual and USDC Perpetual & Futures Contracts

USDT and USDC Contracts:

1. Long Position
（Mark Price - Average Entry Price） × Position Size

2. Short Position

(Average Entry Price - Mark Price) × Position Size

Inverse Contracts:

1. Long Position 

Position Size x [(1/Average Entry Price) - (1/Mark Price)]

2. Short Position

Position Size x [(1/Mark Price) - (1/Average Entry Price)]

Option Value

Total option value calculated in USD

Option Mark Price × Position Size

Margin Balance

The amount of an asset that can be used as a margin after considering the collateral value ratio (USDC and USDT)

Cross Margin

Wallet Balance + Perp & Future Unrealized P&L 

Portfolio Margin

Wallet Balance + Perp & Future Unrealized P&L+ Option Value

Available Balance (for Derivatives)

The amount of an asset that can be used to open USDT Perpetual, USDC Perpetual & Futures, and Options positions (USDC and USDT)

Cross Margin

Margin Balance − Total Initial Margin − Frozen

Portfolio Margin

Equity − Total Initial Margin − Frozen

Initial Margin (for Open Positions and Active Orders) 

The initial margin is the minimum amount of funds required to create derivative orders and positions

Active Order Initial Margin = (Order Value / Leverage) + Estimated Fee to Open + Estimated Fee to Close Position

USDT & USDC Contracts:

Order Value = Order Size × Order Price 

Inverse Contracts:

Order Value = Order Size ÷ Order Price 

Position Initial Margin = 

(Position Value / Leverage) + Estimated Fee to Close Position

USDT & USDC Contracts:

Position Value = Position Size × Mark Price

Inverse Contracts:

Position Value = Position Size ÷ Mark Price  

IM for Hedged Positions (Cross Margin Mode):

Position with Higher Value:

1. Long position

IM = (Mark Price × Hedged Position Size ÷ Leverage) + [Entry Price × Hedged Position Size ×  (1 - 1 ÷ Leverage) × Taker Fee Rate × 2] + (Entry Price × Net Position Size × (1 - 1 ÷ Leverage) × Taker Fee Rate)

When fully hedged, net position size = 0

2. Short position

IM = (Mark Price × Hedged Position Size ÷ Leverage) + [Entry Price × Hedged Position Size (1 + 1 ÷ Leverage) × Taker Fee Rate × 2] + (Entry Price × Net Position Size × (1 + 1 ÷ Leverage) × Taker Fee Rate)

When fully hedged, net position size = 0

Position with Lower Value:

1. Long position

IM= Entry Price × Hedged Position Size × (1 − 1 / Leverage)  × Taker Fee Rate × 2

2. Short position

IM= Entry Price × Hedged Position Size × (1 + 1 / Leverage)  × Taker Fee Rate × 2

Initial Margin (on Borrowed Assets)

The amount of initial margin taken up for Spot Margin Trading 

Asset Borrow Size × IM Rate for Borrowed Asset

IM Rate (for Borrowed Assets)

The initial margin rate required for borrowing assets

IMR for borrowed assets = 1/Leverage

Borrowed Amount

Total borrowing amount for a corresponding asset with insufficient available balance

Cross Margin 

ABS [Min (0, Equity − Buy Option Initial Margin - Positive Option Value − Asset Frozen)]

Portfolio Margin

ABS [Min (0, Equity - Frozen)]

Maintenance Margin (for Open Positions and active orders)

The maintenance margin is the minimum amount of funds required to maintain derivatives position.

The maintenance margin rate required is based on your risk limit. MMR requirements for open positions and order increases as your risk limit tiers rise. Please check the risk limit of the respective trading pair here. 

Maintenance Margin = Position Size × Mark Price × Maintenance Margin Rate + Estimated Fee to Close Position

MM for Hedged Positions (Cross Margin Mode):

Position with Higher Value:

1. If it is a long position 

MM = [(Mark Price × Net Position Size × MMR) − MM Deduction] + [Entry Price × Hedge Position Size × (1 - 1 ÷ Leverage) × Taker Fee Rate × 2] + [Entry Price × Net Position Size × (1 - 1 ÷ Leverage) × Taker Fee Rate] 

When fully hedged, net position size = 0

2. If it is a short position

MM = [(Mark Price × Net Position Size × MMR) − MM Deduction] + [Entry Price × Hedge Position Size × (1 + 1 ÷ Leverage) × Taker Fee Rate × 2] + [Entry Price × Net Position Size × (1 + 1 ÷ Leverage) × Taker Fee Rate] 

When fully hedged, net position size = 0

Position with Lower Value:

1. If it is a long position

MM = Entry Price × Hedged Position Size × (1 − 1 / Leverage)  × Taker Fee Rate  × 2

2. If it is a short position

MM = Entry Price × Hedged Position Size × (1 + 1 / Leverage)  × Taker Fee Rate  × 2

Maintenance Margin (for Borrowed Assets)

The amount of maintenance margin occupied by the asset that has triggered auto borrowing.

Borrowed Amount × MM Rate by Borrowed Asset

Maintenance Margin Rate (for Borrowed Assets)

The rate of margin required to maintain borrowed assets

The maintenance margin rate required is based on your position tiers. MMR requirements for borrowed funds increase as your position tiers rise. 

Please refer to the maintenance margin rate required for each borrowed coin here. 

Initial Margin and Maintenance Margin for Options

For more details on how to calculate the Initial and Maintenance Margin for Options, please refer here.