Trading Accounts and Margin

Collateral

X10 supports USDC as a collateral.

Margin Mode and Trading Accounts

By default, our platform enables cross-margin, allowing collateral to be shared among all positions within a single trading account. Alternatively, users can opt for isolated margin by creating separate trading accounts under the same wallet.

Users can create up to 10 trading accounts with independent margin per single wallet. The liquidation of one trading account does not impact the liquidation of other trading accounts created under the same wallet.

Users have the ability to transfer their Available Balance for Withdrawals (defined below) between trading accounts without any fees. However, it's important to note that these transfers can impact the margin ratio and the liquidation of the involved individual accounts.

For detailed information on the liquidation process, please refer to the Liquidation Logic section.

Account Balances

Every trading account has the following balances:

Equity = Wallet Balance + Unrealised PnL, where:

• Wallet Balance = Deposits - Withdrawals + Realised PnL.

• Unrealised PnL = Position Size * (Mark Price - Entry Price).

Available Balance for Trading = Equity - Initial Margin Requirement, where:

• Initial Margin Requirement for a given market = Max(Abs(Position Value + Value of Buy Orders), Abs(Position Value + Value of Sell Orders))*1/Leverage.

• The Initial Margin for Conditional Orders is not deducted from the Available Balance for Trading until the Trigger Price is reached, and the order is placed in the Order Book.

• If the Available Balance for Trading becomes less than 0, all open orders except for reduce-only orders are canceled. Additionally, as long as the Available Balance is less than 0, the user can only place orders that reduce the size of existing positions.

Available Balance for Withdrawals = Wallet Balance + min(0,Unrealised PnL) - Initial Margin Requirement

Hedge Mode

Currently, our platform does not support hedge mode, which would allow users to simultaneously open long and short positions in the same market. However, users can create sub-accounts to emulate this behavior.

Self-Trade Prevention

Self-Trade Prevention, which blocks the matching of two opposing orders from the same trading account, is enabled by default, resulting in the cancellation of the resting order.