Margin Trade
Margin Trade is a non-custodial, onchain perpetuals exchange for crypto, equities, commodities, and more.
Trades are matched with a central limit order book and settled onchain. Positions, funding, and liquidations are fully transparent.
What you need
Before trading, make sure you have:
An eligible wallet
USDC available for collateral
Access from a supported jurisdiction
Wallets may be screened for sanctions or compliance risk. Access may be unavailable in restricted regions, including the U.S.
Start here
Review Accessing Margin Trade.
Set up Your Account.
Learn the trading model in Overview.
Check per-market parameters in Markets.
Core mechanics
Cross margin only: All open positions share account collateral today. See Margin.
Mark price: PnL and liquidations use a fair reference price. See Price Feeds.
Funding: Longs and shorts exchange periodic funding payments. See Funding.
Liquidation controls: Distressed positions move through liquidation, backstop, and ADL stages. See Liquidations.
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