Non-USD Collateral

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By default, collateral is posted in USD and PNL is paid out in USD.

Balances of the following coins also count towards collateral.

Coin Weight (total) Weight (initial) IMF factor
1INCH 0.9 0.85 0.0005
AAPL 0.9 0.85 0.005
AAVE 0.9 0.85 0.0025
ABNB 0.9 0.85 0.005
ACB 0.9 0.85 0.0025
ALPHA 0.9 0.85 0.00025
AMC 0.9 0.85 0.0025
AMD 0.9 0.85 0.005
AMZN 0.9 0.85 0.03
APHA 0.9 0.85 0.001
ARKK 0.9 0.85 0.005
AUD 0.99 0.98

0.00001

AVAX 0.9 0.85

0.002

BABA 0.9 0.85 0.01
BAND 0.85 0.8 0.001
BB 0.9 0.85 0.0025
BCH 0.95 0.9 0.0008
BILI 0.9 0.85 0.005
BITW 0.9 0.85 0.005
BNB 0.95 0.9 0.0005
BNT 0.9 0.85 0.0025
BNTX 0.9 0.85 0.005
BRL 0.99 0.98 0.00001
BRZ 0.99 0.98 0.00001
BTC 0.975 0.95 0.002
BTMX 0.7 0.65 0.0008
BUSD 1 1 0
BVOL 0.85 0.8 0.005
BYND 0.9 0.85 0.0075
CAD 0.99 0.98 0.00001
CEL 0.85 0.8 0.001
CGC 0.9 0.85 0.0025
CHF 0.99 0.98 0.00001
COIN 0.85 0.8 0.01
COMP 0.9 0.85 0.002
CRON 0.9 0.85 0.001
CUSDT 0.9 0.85 0.00001
DAI 0.9 0.85 0.00005
DOGE 0.95 0.9 0.00002
DOT 0.9 0.85 0.0005
ETH 0.95 0.9 0.0004
ETHE 0.9 0.85 0.0025
EUR 0.99 0.98 0.00001
FB 0.9 0.85 0.01
FIDA 0.85 0.8 0.001
FTM 0.85 0.8 0.0005
FTT 0.95 0.95 0.0005
GBP 0.99 0.98 0.00001
GBTC 0.9 0.85 0.0025
GDX 0.9 0.85 0.0025
GDXJ 0.9 0.85 0.005
GLD 0.9 0.85 0.005
GLXY 0.9 0.85 0.005
GME 0.9 0.85 0.005
GOOGL 0.9 0.85 0.025
GRT 0.9 0.85 0.00025
HKD 0.99 0.98 0.00001
HOLY 0.9 0.85 0.0005
HOOD 0.85 0.8 0.005
HT 0.9 0.85 0.0003
HUSD 1 1 0
IBVOL 0.85 0.8 0.015
KNC 0.95 0.9 0.001
LEO 0.85 0.8 0.001
LINK 0.95 0.9 0.0004
LRC 0.85 0.8 0.0005
LTC 0.95 0.9 0.0004
MATIC 0.85 0.8 0.00004
MKR 0.9 0.85 0.007
MOB 0.6 0.55 0.005
MRNA 0.9 0.85 0.005
MSTR 0.9 0.85 0.008
NFLX 0.9 0.85 0.01
NIO 0.9 0.85 0.004
NOK 0.9 0.85 0.001
NVDA 0.9 0.85 0.01
OKB 0.9 0.85 0.0003
OMG 0.85 0.8 0.001
USDP 1 1 0
PAXG 0.95 0.9 0.002
PENN 0.9 0.85 0.005
PFE 0.9 0.85 0.004
PYPL 0.9 0.85 0.008
RAY 0.85 0.8 0.0005
REN 0.9 0.85 0.00025
RSR 0.85 0.8 0.0001
RUNE 0.85 0.8 0.001
SECO 0.9 0.85 0.0005
SGD 0.99 0.98 0.00001
SLV 0.9 0.85 0.0025
SNX 0.85 0.8 0.001
SOL 0.9 0.85 0.0004
STSOL 0.9 0.85 0.0004
MSOL 0.9 0.85 0.0004
SPY 0.9 0.85 0.01
SQ 0.9 0.85 0.008
SRM 0.9 0.85 0.0005
SUSHI 0.95 0.9 0.001
SXP 0.9 0.85 0.0005
TLRY 0.9 0.85 0.001
TOMO 0.85 0.8 0.0005
TRX 0.9 0.85 0.00001
TRY 0.99 0.98 0.00001
TRYB 0.9 0.85 0.00001
TSLA 0.9 0.85 0.01
TSM 0.9 0.85 0.015
TUSD 1 1 0
TWTR 0.9 0.85 0.004
UBER 0.9 0.85 0.004
UNI 0.95 0.9 0.001
USD 1 1 0
USDC 1 1 0
USDT 0.975 0.95 0.00001
USO 0.9 0.85 0.0025
WBTC 0.975 0.95 0.005
WUSDC 1 1 0
WUSDT 0.975 0.95 0.00001
XAUT 0.95 0.9 0.002
XRP 0.95 0.9 0.00002
YFI 0.9 0.85 0.015
ZAR 0.99 0.98 0.00001
ZM 0.9 0.85 0.01
ZRX 0.85 0.8 0.001

 

For positive balances, collateral = size * price * min(weight, 1.1 / (1 + imf factor * sqrt(size))). For negative balances, collateral = size * price.

You can choose whether to use FTT as collateral on the settings page. By default your account will use FTT as collateral. Note that Weight (total) is used to determine collateral for the purpose of liquidations, and Weight (initial) is for the purpose of opening new positions.

In the event that your USD balance falls too far below zero (see below for details), some of your balances in the above coins may be automatically traded into to USD by sending market orders into the corresponding FTX spot markets.

Any positive PnL will be paid out in USD regardless of which type of collateral you use.

 

FTX will trade your non-USD collateral into USD if your USD balance is negative and any of the following hold:

  • You are close to liquidation: your account's margin fraction is less than (20bps + maintenance margin fraction requirement)
  • Your negative USD balance is large: over $30,000 in magnitude
  • Your negative USD balance is large when compared to overall collateral: its magnitude is over 4 times larger than your net account collateral

FTX will first turn (non-USD fiat), then (BTC and USDT), then (ETH, BNB, PAXG, XAUT,  KNC), and (BCH, LTC, TRYB, LINK, TRX), and then FTT (if you have it enabled) into USD. If both BTC and USDT are eligible choices, FTX will choose the larger balance: if you have $1000 of USDT and $100 of BTC, your USDT will be traded into USD first. FTT collateral is always used last.

If you'd like to convert your USD PnL into BTC you can do so using our spot market.

Note that collateral conversions will potentially top you up so that you have slightly more than zero USD left by converting 10% more than is necessary in case of price movements.

 

Charging interest instead of collateral converting

Instead of having your collateral converted into USD, you can choose to be charged interest on your negative USD balance past -$30,000 at market rates determined by the funding market. Negative balances will require margin in the same way that futures positions do, and the default threshold for collateral conversions will be the same as for futures liquidations, i.e. being below maintenance margin.

 

You can turn on this setting on the settings page. Interest is charged once per minute. Interest payments are visible on the fills page.

 

 

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