Margin Requirements

Below is a table for initial and maintenance margin requirements for each market. Pulled directly from the protocol’s on-chain state.

These values include:

• Initial Margin Ratio (marginRatioInitial)
• Maintenance Margin Ratio (marginRatioMaintenance)
• IMF Factor, (imfFactor) affects leverage at higher notional sizes

Data below is updated every hour from PerpMarketAccount.

Perpetual Markets

Isolated Positions

Alongside cross-margin (the default — every position and deposit in a subaccount shares one collateral pool), Velocity supports isolated perp positions: a perp position that is capitalized and liquidated independently of the rest of the subaccount.

• Funding an isolated position. Collateral is deposited directly into a specific perp position (depositIntoIsolatedPerpPosition), which creates the position if it doesn’t already exist and tracks its balance in a segregated isolatedPositionScaledBalance — separate from the subaccount’s cross-margin spot balances. Collateral moves between an isolated position and the rest of the subaccount via transferIsolatedPerpPositionDeposit, or out entirely via withdrawFromIsolatedPerpPosition.
• Independent margin health. An isolated position’s initial/maintenance margin is calculated on its own (IsolatedMarginCalculation), using only that position’s deposited collateral and PnL — it cannot draw on, or be drawn on by, the subaccount’s cross-margin collateral or other isolated positions. A loss on one isolated position never touches unrelated positions.
• Orders. Orders that risk-increase an isolated position carry the IsIsolatedPosition bit flag (see Order Types).
• Liquidation. Isolated positions are liquidated independently of the rest of the account and, unlike cross-margin liquidations (which unwind gradually over a throttled window), close in a single shot at 100% — see Liquidations for the full mechanics.

Unrealized PnL Cap on Initial Margin

For initial margin calculations only (not maintenance), a single position’s weighted unrealized PnL is capped at $100 (MAX_POSITIVE_UPNL_FOR_INITIAL_MARGIN) before it can count toward collateral for opening new risk. This is a safety guard against a mispriced or thinly-traded market inflating a user’s paper profit into borrowing power for other positions — it does not affect maintenance margin, and so does not by itself trigger or prevent a liquidation.