Leverage and Margin for USDⓈ-M Perpetual Futures Contracts

  • MDEX uses a tiered margin model for risk control, so your leverage ratio depends on the size of your position. Positions with a greater notional value have a lower available leverage ratio and you can adjust the leverage multiplier manually. All of your positions are calculated based on the notional value of the contract. Your initial margin ratio is calculated based on where you set the leverage multiplier.

  • If you want to manually adjust the leverage multiplier, you'll need to do so before opening your position. Otherwise, your position will be opened using the default leverage multiplier on MDEX, which is 20×. The higher the leverage multiplier, the smaller the position you'll be able to open.


1. Leverage for Isolated Margin positions cannot be lowered.

2. In Cross Margin mode, all of the assets in your account will be used as margin for all of your positions of that same asset. For example, all of the USDT in your cross margin account will be used as margin for all of your USDT USDⓈ-M Perpetual Futures positions.

3. The maximum position amount for each tier includes the combined total of all long and short positions.

  • If you don't have enough margin in your account, MDEX will send a margin call notice and a liquidation notice via email and on-site notification. This function serves as a risk warning and we cannot guarantee timely delivery or receipt. While using this service, it may not be possible to receive email reminders or the reminders may be delayed due to certain circumstances (including network congestion or a poor network environment). MDEX reserves the right to send notifications without the obligation to do so. To avoid missing emails, please make sure you add MDEX to your email whitelist to prevent important emails from being misclassified.

  • The maintenance margin ratio is calculated based on the level of unused notional value of your position, rather than on where you set the leverage multiplier. This means that where you set the leverage multiplier has no effect on the maintenance margin ratio. The maintenance margin ratio is based on the "progressive tax" method, wherein the original leverage of a position does not change when the position increases from one tier to the next. Using the "progressive tax method," the position amount is divided into multiple tiers which have different maintenance margin ratios based on the different position amounts. The greater the position amount, the higher the maintenance margin ratio.

  • On other futures trading platforms, the maintenance margin is usually half of the initial margin. Based on the MDEX maintenance margin rules, MDEX's maintenance margin is less than half of the initial margin, which is more beneficial for our users.

    Maintenance margin directly affects liquidation price. Therefore, we strongly recommend that you close your positions before your account margin balance falls to the maintenance margin level in order to avoid liquidation.

  • When you adjust the leverage multiplier, the system will give you a prompt stating your maximum position size, as shown below:

*Disclaimer: Due to syncing or lag, the numerical figures displayed in such notifications are subject to update without notice.

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