Account-Based
| Term | Definition | Formula |
| Total Net Value | The total net value of all assets in the account without considering the collateral value ratio (calculated in USD). | Wallet Balance + Unrealized PnL of Perpetual Contracts |
| Margin Balance | The total amount in the account available as margin after applying the collateral value ratio (calculated in USD). | Cross Margin Wallet Balance + Unrealized PnL of Perpetual Contracts |
| Account Initial Margin Rate | The initial margin rate at the account level. | Total Cross Margin Initial Margin ÷ (Margin Balance - Order Loss) |
| Account Maintenance Margin Rate | The maintenance margin rate at the account level. | Total Cross Margin Maintenance Margin ÷ (Margin Balance - Order Loss) |
| Total Initial Margin | The total initial margin amount in the account (calculated in USD). | Σ Initial Margin of Open Positions + Σ Initial Margin of Active Orders + Σ Initial Margin of Borrowed Assets |
| Total Maintenance Margin | The total maintenance margin amount in the account (calculated in USD). | Σ Maintenance Margin of Borrowed Assets + Σ Maintenance Margin of Open Positions + Σ Maintenance Margin of Valid Orders |
| Unrealized P&L of Perpetual Contracts | The total unrealized profit and loss of USDT perpetual contracts. | Σ Unrealized PnL of Asset-Based Perpetual Contracts |
| Order Loss | The total potential margin value loss caused by the difference between order price and mark price in perpetual contract orders. | Σ Asset-Based Order Loss (all perpetual contract orders) Order Loss: max[0, (Mark Price – Order Price) × Order Quantity] or max[0, (Order Price – Mark Price) × Order Quantity] |
Asset-Based
| Term | Definition | Formula |
| USD Value | Asset Value (calculated in USD) | – |
| Wallet Balance | The actual amount of assets you hold in your UTA wallet, calculated in USD. | – |
| Net Value | Net Asset Value without applying the collateral value ratio | Asset Wallet Balance + Unrealized PnL of Perpetual Contracts |
| Unrealized P&L of Perpetual Contracts | Unrealized PnL of USDT Perpetual Contracts |
USDT Perpetual Contracts:
Inverse Contracts:
|
| Margin Balance | Amount of assets available as margin after applying the collateral value ratio (in USDT) | Cross Margin Wallet Balance + Unrealized PnL of Perpetual Contracts |
| Available Balance (for Derivatives Trading) | Amount of assets available for opening USDT perpetual contract positions | Cross Margin Balance – Total Initial Margin – Frozen Assets |
| 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 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 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 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 Absolute Value [min (0, Net Value – Frozen Assets)] |
| Maintenance Margin (for Open Positions and Active Orders) | Maintenance margin is the minimum amount of funds required to maintain derivative positions. The required maintenance margin rate (MMR) depends on your risk limit level— as your risk limit level increases, the MMR required for open positions and active orders will also increase accordingly. |
Maintenance Margin = Position Size × Mark Price × Maintenance Margin Rate + Estimated Fee to Close Position 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 assets triggered for automatic borrowing. | Borrowed Amount × Maintenance Margin Rate of the Borrowed Asset |
| Maintenance Margin Rate (for Borrowed Assets) | The maintenance margin rate required for borrowed assets. The required MMR depends on your position tier — as your position tier increases, the minimum maintenance margin rate for borrowed funds will also rise accordingly. | Please refer here to view the required maintenance margin rate for each borrowed asset. |
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