Multi-Collateral Margin is now live!
Trade perps using $ETH, $USDT, or $USDC —no more forced swaps, no more friction.
Use what you already hold.
Skip the detours.
Just trade.
Orderly is one of the first DeFi orderbooks to make this possible.
CEX convenience. DeFi control.
Most perp protocols force you to deposit one token (usually USDC).
That means:
– You pay to swap
– You wait to trade
– You risk forced-selling your core bags
It's friction. It's inefficient.
It's how DeFi's been stuck.
Orderly fixes that.
✅ Deposit USDC, USDT or ETH
✅ Use them directly as margin
✅ Trade instantly
✅ Track your health across assets
✅ Rebalance any time (no fee)
✅ Settle PnL in USDC (behind the scenes)
Why it matters:
– Trade directly with ETH or USDT
– Reduce friction & gas costs
– Put idle assets to work
– Unlock smarter cross-asset strategies
Don't sell your ETH to trade ETH!
How does multi-collateral trading work on Orderly?
You can deposit USDT or ETH as collateral. That becomes your margin.
You trade perps as usual. But PNL and funding fees always settle in USDC, even if you’re using USDT or ETH as collateral.
If you profit, you get:
– your remaining USDT/ETH
– your PNL in USDC
If you lose, you may end up with:
– your remaining USDT/ETH
– a negative USDC balance
You can swap USDT or ETH to USDC yourself to clear the debt—no fees from Orderly.
But if your account health deteriorates, Orderly may auto-swap your collateral to cover the debt.
Swaps are powered by @odosprotocol
📉 This only happens if needed, and a small fee is applied.
And yeah—it’s hard to pull off.
Multi-collateral isn’t just a toggle.
It takes:
– Genius quants
– Real-time pricing across assets
– Safe liquidation logic
– Smart account health tracking
– Seamless settlement behind the scenes
Most skip it. We built it.
Start trading with your preferred collateral — $USDC, $USDT, or $ETH — live now on Arbitrum, Base, and Ethereum.
Read more here:
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