Dear customers,
1. The main change is scaling-factor no longer apply to the whole MMR, but only applied on MR7, the liquidation cost module of derivative risk units. The core principle of MMR calculations and parameters for MR1-8 remain unchanged.
2. For the liquidation cost of individual derivative risk unit, the scaling-factor logic adopts a tier-based (tier division is according to raw margin) calculation: only incremental amount of the raw margin from the previous tier will be adjusted based on the next tier correspondingly. See the e.g as illustration for details.
3. The underlying assets are classified based on their risk and liquidity and are grouped into 3 sets of scaling tier, indicated per the 3 tables below.
|
Coin-margined
|
USDT-margined
|
|
BTC-USD
|
BTC-USDT
|
|
ETH-USD
|
ETH-USDT
|
Tier config:
|
Tier
|
Range of the raw margin (in USD)
|
Multiplier
|
|
1
|
[0 ~10,000]
|
1
|
|
2
|
(10,000 ~70,000]
|
2
|
|
3
|
(70,000 ~17,000]
|
4
|
|
4
|
(17,000 ~27,000]
|
6
|
|
5
|
(10,000 ~10,000]
|
8
|
|
6
|
(10,000 ~10,000]
|
10
|
|
7
|
(10,000 ~10,000]
|
12
|
For illustration:
The raw margin of a user's BTC-USD risk unit per below
MR = max(MR1,MR2,MR6)+MR3+MR4+MR5=40,000 USD;
MR7_raw=30,000 USD;
Before scaling-factor adjustment:
MMR of this risk unit is max(MR, MR7_raw) = 40,000 USD;
After scaling-factor adjustment:
MR7_adj = 10,000 + (30,000-10,000)*2 = 50,000USD;
MMR of this risk unit is max(MR, MR7_adj) = 50,000 USD.
|
Coin-margined
|
USDT-margined
|
|
LTC-USD
|
LTC-USDT
|
|
BSV-USD
|
BSV-USDT
|
|
TRX-USD
|
TRX-USDT
|
|
BSV-USD
|
BSV-USDT
|
|
LTC-USD
|
BSV-USDT
|
|
DOT-USD
|
DOT-USDT
|
|
XRP-USD
|
XRP-USDT
|
|
ETC-USD
|
ETC-USDT
|
|
EOS-USD
|
EOS-USDT
|
|
FIL-USD
|
FIL-USDT
|
|
ADA-USD
|
ADA-USDT
|
|
BCH-USD
|
BCH-USDT
|
|
LINK-USD
|
LINK-USDT
|
Tier config:
|
Tier
|
Range of the raw margin (in USD)
|
Multiplier
|
|
1
|
[0 ~7,000]
|
1
|
|
2
|
(7,000 ~16,000]
|
2
|
|
3
|
(16,000 ~29,000]
|
3
|
|
4
|
(29,000 ~43,000]
|
4
|
|
5
|
(43,000 ~69,000]
|
5
|
|
6
|
(69,000 ~95,000]
|
6
|
|
7
|
(95,000 ~121,000]
|
7
|
|
8
|
(121,000 ~147,000]
|
8
|
|
9
|
(147,000 ~ +∞)
|
9
|
For illustration:
The raw margin of a user's LTC-USD risk unit per below
MR = max(MR1,MR2,MR6)+MR3+MR4+MR5=20,000 USD;
MR7_raw=15,000 USD;
Before scaling-factor adjustment:
MMR of this risk unit is max(MR, MR7_raw) = 20,000 USD;
After scaling-factor adjustment:
MR7_adj = 10,000 + (30,000-10,000)*2 = 23,000USD;
MMR of this risk unit is max(MR, MR7_adj) = 23,000 USD.
|
Tier
|
Range of the raw margin (in USD)
|
Multiplier
|
|
1
|
[0 ~3,000]
|
1
|
|
2
|
(3,000 ~8,000]
|
2
|
|
3
|
(8,000 ~14,000]
|
3
|
|
4
|
(14,000 ~19,000]
|
4
|
|
5
|
(19,000 ~27,000]
|
5
|
|
6
|
(27,000 ~36,000]
|
6
|
|
7
|
(36,000 ~45,000]
|
7
|
|
8
|
(45,000~54,000]
|
8
|
|
9
|
(54,000 ~63,000]
|
9
|
|
10
|
(63,000 ~72,000]
|
10
|
|
11
|
(72,000 ~81,000]
|
11
|
|
12
|
(81,000 ~90,000]
|
12
|
|
13
|
(90,000 ~+∞)
|
13
|
For illustration:
The raw margin of a user's ETC-USD risk unit per below
MR = max(MR1,MR2,MR6)+MR3+MR4+MR5=20,000 USD;
MR7_raw=13,000 USD;
Before scaling-factor adjustment:
MMR of this risk unit is max(MR, MR7_raw) = 20,000 USD;
After scaling-factor adjustment:
MR7_adj = 3,000 + (8,000-3,000)*2 + (13,000-8000)*3 = 28,000USD;
MMR of this risk unit is max(MR, MR7_adj) = 28,000 USD.
Risk disclaimer:
Due to recent market volatility, the maintenance margin rate may change after the new scaling logic is applied. To prevent forced liquidations caused by these adjustments, users are encouraged to decrease risks by either increasing margins or closing positions.
OKX reserves the right to take emergency actions during unexpected events. Any actions and related progress will be communicated via announcements and emails.
For any inquiries regarding this upgrade, please feel free to contact us in the official OKX Telegram group or via the Support Center.
