Leverage and Margin for USDⓈ-M Perpetual Futures Contracts

• ApolloX uses a tiered margin model for risk control, so your leverage ratio depends on the size of your position. Positions with a greater notional value have a lower available leverage ratio and you can adjust the leverage multiplier manually. All of your positions are calculated based on the notional value of the contract. Your initial margin ratio is calculated based on where you set the leverage multiplier.
• If you want to manually adjust the leverage multiplier, you’ll need to do so before opening your position. Otherwise, your position will be opened using the default leverage multiplier on ApolloX, which is 20×. The higher the leverage multiplier, the smaller the position you’ll be able to open.

Note:

1. Leverage for Isolated Margin positions cannot be lowered.

2. In Cross Margin mode, all of the assets in your account will be used as margin for all of your positions of that same asset. For example, all of the USDT in your cross margin account will be used as margin for all of your USDT USDⓈ-M Perpetual Futures positions.

3. The maximum position amount for each tier includes the combined total of all long and short positions.

• If you don’t have enough margin in your account, ApolloX will send a margin call notice and a liquidation notice via email and on-site notification. This function serves as a risk warning and we cannot guarantee timely delivery or receipt. While using this service, it may not be possible to receive email reminders or the reminders may be delayed due to certain circumstances (including network congestion or a poor network environment). ApolloX reserves the right to send notifications without the obligation to do so. To avoid missing emails, please make sure you add ApolloX to your email whitelist to prevent important emails from being misclassified.

You can learn more by reading our article on How to Whitelist ApolloX Emails.

• The maintenance margin ratio is calculated based on the level of unused notional value of your position, rather than on where you set the leverage multiplier. This means that where you set the leverage multiplier has no effect on the maintenance margin ratio. The maintenance margin ratio is based on the “progressive tax” method, wherein the original leverage of a position does not change when the position increases from one tier to the next. Using the “progressive tax method,” the position amount is divided into multiple tiers which have different maintenance margin ratios based on the different position amounts. The greater the position amount, the higher the maintenance margin ratio.
• On other futures trading platforms, the maintenance margin is usually half of the initial margin. Based on the ApolloX maintenance margin rules, ApolloX’s maintenance margin is less than half of the initial margin, which is more beneficial for our users.
• Maintenance margin directly affects liquidation price. Therefore, we strongly recommend that you close your positions before your account margin balance falls to the maintenance margin level in order to avoid liquidation.

• When you adjust the leverage multiplier, the system will give you a prompt stating your maximum position size, as shown below:

• Disclaimer: Due to syncing or lag, the numerical figures displayed in such notifications are subject to update without notice.

U本位合约的杠杆和保证金

• ApolloX平台采取阶梯保证金的模式进行风险控制，杠杆倍率大小视持仓大小而定。持仓名义价值越大，可获得杠杆倍率越低。用户可自行调整杠杆倍数，所有仓位大小都是基于合约名义价值计算的。初始保证金率的算法是根据用户调整的杠杆倍数而定。
• 开仓前，用户需要自定调整杠杆倍数，如果用户没有调整杠杆倍数，ApolloX平台合约交易默认的杠杆倍数为20倍，用户可自行调整杠杆。杠杆倍数越高，用户可建立的最大仓位越小。

注意：

1. 逐仓在有持仓时，不可调低持仓开仓杠杆。

2. 全仓模式下，当保证金币种相同时，才可以共用保证金。U本位合约中所有USDT可用于所有USDT合约。

3. 每一阶梯最大持仓限额包括多空仓位总和。

• 当保证金不足时，ApolloX将通过邮件和站内信给用户发送追加保证金通知和强平通知。此功能作为风险提示无法保证及时发送或送达。在您使用本服务过程中，在某些情况下（包括由于网络拥堵和网络环境不良），可能无法或延迟接收电子邮件提醒，ApolloX保留没有义务发送通知的权利。为避免错过邮件，请您务必确保将ApolloX邮件添加至邮件白名单，以防重要邮件通知被错误归类。

点击查看如何设置ApolloX邮件白名单

• 维持保证金率不是根据用户调整的杠杆倍数计算的，而是根据用户的仓位在不用名义价值级别而计算的，这意味着维持保证金率是不被杠杆倍数影响的。维持保证金率是根据“税收超额累进法”的方法，仓位从一个阶梯上升到下一阶梯不会引起原来级别的杠杆变化。“税收超额累进法”的方法是仓位数额划分为若干等级，不同等级的仓位数额分别适用不同的维持保证金率，仓位数额越大，维持保证金率越高。

在其他合约交易平台，维持保证金通常为初始保证金的一半。基于ApolloX合约维持保证金规则，ApolloX维持保证金低于初始保证金的一半，因此，更利于用户。

维持保证金将会直接影响强平价格。因此，我们强烈建议用户在账户抵押金下降到维持保证金水平前，自行平仓以避免被自动清算。

• 当用户自行调整杠杆倍数时，系统会为用户提示可建立最大仓位的提示，如下图：

*免责声明：由于同步或有滞后，本文中的数字如有更新，恕不另行通知。