# 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](/getting-started/access.md).
2. Set up [Your Account](/getting-started/account.md).
3. Learn the trading model in [Overview](/trading/overview.md).
4. Check per-market parameters in [Markets](/perps-specs/markets.md).

### Core mechanics

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


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