Dear BitMax.io Users:
BitMax.io will be conducting a system upgrade to implement the new isolated margin mode for perpetual futures contract from 11:00 a.m. EST on Feb 27 to 3:00 a.m. EST on Feb 28. Post implementation, users can seamlessly switch between the cross-asset margin mode and the isolated margin mode while trading perpetual futures contract.
Please take necessary measures before the upgrade, such as adding margin, lowering the leverage, or even closing the positions to avoid potential risks like forced-liquidations caused by market volatility.
During the maintenance window, the website will be temporarily unavailable and all open orders will be canceled.
- Cross-asset Collateral
In the cross-asset margin mode, all assets in the futures account can be used as collateral. However, forced liquidation would also lead to potential loss of all the assets in the futures account.
- Isolated Collateral
In the isolated margin mode, the user can post specific assets as separate margin collateral and under forced liquidation scenario, the potential loss will only be limited to those assets posted as collateral, vs. potentially pull the assets in the futures margin in the cross-asset mode.
2. Isolated Margin Mode Instructions for Perpetual Futures Contract
- Position Mode Setup
The cross-asset margin mode is the default setup for a futures account. Users can switch modes on the Futures Trading page. After the switch, the system will automatically save the latest mode.
- Collateral Adjustment
When holding positions in the isolated margin mode, users can manually post or reduce collateral to adjust the est. liquidation price.
3. Leverage Setup
The BTCUSDT perpetual futures contract supports 1~100x leverage. Users can modify the leverage setup in the [Positions] tab on the Futures Trading page.
- In the cross-asset margin mode, leverage adjustment will change the requirements for position collateral and order collateral.
- In the isolated margin mode, leverage adjustment will not change the requirements for position collateral and order collateral.
We truly appreciate your continued support.
Feb 24, 2021
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