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 |
| ATOM | 0.9 | 0.85 | 0.0005 |
| AUD | 0.99 | 0.98 |
0.00001 |
| AVAX | 0.9 | 0.85 |
0.0007 |
| 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 |
| LUNA | 0.9 | 0.85 | 0.0001 |
| 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 |
| 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 |
| UST | 0.85 | 0.8 | 0.0005 |
| 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.
For accounts with spot-margin trading disabled, 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 enable spot margin trading on your account in order to automatically borrow the negative USD balance via the spot margin market and pay the prevailing USD borrow rate.
As an example, assume you opened a long futures position and only had BTC as collateral. If your position goes against you, you would have a negative USD balance. At that point, instead of converting your BTC collateral, FTX will use it to borrow USD from the spot margin market for the amount you’re negative. You will be charged the prevailing USD borrow rate for any negative USD balance.
Keep in mind that 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).
To enable spot margin trading, go to the Margin section on your profile page and click "Enable spot margin trading".
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