Non-USD Collateral

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

Balances of the following coins also count towards collateral.

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.

__________________________________________

Email: support@ftx.com

WeChat - FTX_Official
Blog: https://blog.ftx.com/
Medium：https://medium.com/@ftx
Facebook - https://www.facebook.com/ftx.official/
Twitter- https://twitter.com/FTX_Official
SBF Twitter - https://twitter.com/SBF_FTX
YouTube - https://www.youtube.com/channel/UC3r0upC_xJ9SvtaCKNUtosA

Telegram Communities

FTX English Community - https://t.me/FTX_Official

FTX Chinese Community - https://t.me/FTX_Chinese_Official

FTX Korean Community - https://t.me/FTX_Korea_Official

FTX Turkish Community - https://t.me/FTX_Turkey_Official

FTX Vietnamese Community - https://t.me/FTX_Vietnam_Official

FTX Russian Community - https://t.me/FTX_Russian_official

FTX French Community - https://t.me/FTX_France_Officiel

FTX India Community - https://t.me/FTX_India_Official

FTX Portuguese Community - https://t.me/ftx_portugues_oficial

FTX Africa Community - https://t.me/FTX_Africa

FTX Spanish Community - https://t.me/ftx_spanish_official

FTX Indonesian Community - https://t.me/FTX_Indonesia

FTX Thai Community - https://t.me/FTX_Thailand

FTX Philippines - https://t.me/FTXPhilippines

FTX Dutch - https://t.me/FTX_Dutch

FTX Announcements Channel – https://t.me/FTX_Announcements

FTX API Support – https://t.me/FTX_API_Support

FTX Quant Zone – https://t.me/FTX_Quant_Zone

FTX Trading Room – https://t.me/FTX_Trading_Room