# Margin Trade

[**Margin Trade**](https://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

1. Review [Accessing Margin Trade](https://docs.margin.trade/getting-started/access).
2. Set up [Your Account](https://docs.margin.trade/getting-started/account).
3. Learn the trading model in [Overview](https://docs.margin.trade/trading/overview).
4. Check per-market parameters in [Markets](https://docs.margin.trade/perps-specs/markets).

### Core mechanics

* **Cross margin only:** All open positions share account collateral today. See [Margin](https://docs.margin.trade/trading/margin).
* **Mark price:** PnL and liquidations use a fair reference price. See [Price Feeds](https://docs.margin.trade/trading/price-feeds).
* **Funding:** Longs and shorts exchange periodic funding payments. See [Funding](https://docs.margin.trade/trading/funding).
* **Liquidation controls:** Distressed positions move through liquidation, backstop, and ADL stages. See [Liquidations](https://docs.margin.trade/trading/liquidations).