BitMEX imposes risk limits on all trading accounts to minimise the occurrence of large liquidations on margined contracts.
As users amass larger positions, they pose a risk to others on the exchange who may experience a deleveraging event if the position cannot be fully liquidated. The Step model helps avoid this by increasing margin requirements for large positions.
Each instrument has a Base Risk Limit and Step. These numbers combined with the base Maintenance and Initial
Margin requirements are used to calculate your full margin requirement at each position size.
As the position size increases, the maintenance and initial margin requirements will increase. Users must authorize a higher or lower risk limit on the Positions panel. Margin requirements will automatically increase and decrease as your risk limit changes.
| Symbol |
Base Risk Limit |
Step |
Base Maintenance Margin |
Base Initial Margin |
| XRPU20 |
50 XBT |
50 XBT |
2.50% |
5.00% |
| BCHU20 |
50 XBT |
50 XBT |
2.50% |
5.00% |
| ADAU20 |
50 XBT |
50 XBT |
2.50% |
5.00% |
| EOSU20 |
50 XBT |
50 XBT |
2.50% |
5.00% |
| TRXU20 |
50 XBT |
50 XBT |
2.50% |
5.00% |
| XRPUSD |
50 XBT |
50 XBT |
1.00% |
2.00% |
| BCHUSD |
50 XBT |
50 XBT |
2.00% |
4.00% |
| XBTUSD |
200 XBT |
100 XBT |
0.35% |
1.00% |
| XBTU20 |
50 XBT |
50 XBT |
0.35% |
1.00% |
| XBTZ20 |
50 XBT |
50 XBT |
0.35% |
1.00% |
| ETHUSD |
50 XBT |
50 XBT |
0.70% |
2.00% |
| ETHU20 |
50 XBT |
50 XBT |
0.70% |
2.00% |
| ETHUSDU20 |
50 XBT |
50 XBT |
0.70% |
2.00% |
| LTCUSD |
50 XBT |
50 XBT |
1.50% |
3.00% |
| LTCU20 |
50 XBT |
50 XBT |
1.50% |
3.00% |
| Term |
Formula |
XBTUSD Example (1 Step) |
| New Maintenance Margin % |
Base MM % + ( Steps * Base MM % ) |
0.35% + ( 1 * 0.35% ) = 0.70% |
| New Initial Margin % |
Base IM % + ( Steps * Base MM % ) |
1.00% + ( 1 * 0.35% ) = 1.35% |
| XBT Maintenance Margin |
New MM * Gross XBT Position Value |
0.70% * 300 XBT = 2.1 XBT |
Further information is available on:
- How to Adjust Risk Limits
- Trade Examples
