Margin Requirements

Minimum initial and maintenance margin requirements for perpetual futures and perpetual options.

All contracts on Everstrike are USD-margined.

Cross Margin is the default. Positions share the same margin pool.

Traders can optionally switch to Isolated Margin.

Portfolio Margin is not currently supported.

This page defines the minimum initial and maintenance margin requirements for perpetual futures and perpetual options.

The formulas below define minimum required margin. If margin falls below the maintenance requirement, the position can become subject to liquidation.

Perpetual futures

Property	Value
Min. Initial Margin	0.01 * Position Size + Abs(Funding Rate) * Position Size
Min. Maintenance Margin	0.005 * Position Size + Abs(Funding Rate) * Position Size

Perpetual options

Long options

Property	Value
Min. Initial Margin (Long Call)	1.00 * Position Size + Abs(Funding Rate) * Position Size
Min. Initial Margin (Long Put)	1.00 * Position Size + Abs(Funding Rate) * Position Size
Min. Maintenance Margin (Long Call)	0.50 * Position Size + Abs(Funding Rate) * Position Size
Min. Maintenance Margin (Long Put)	0.50 * Position Size + Abs(Funding Rate) * Position Size

Short options

Property	Value
Min. Initial Margin (Short Call)	Max (0.06 * Underlier Index Price - OTM Amount/Underlier Index Price, 0.04 * Underlier Index Price) + Mark Price + Abs(Funding Rate) * Position Size
Min. Initial Margin (Short Put)	Max (Max (0.06 * Underlier Index Price - OTM Amount/Underlier Index Price, 0.04 * Underlier Index Price) + Mark Price, Min. Maintenance Margin) + Abs(Funding Rate) * Position Size
Min. Maintenance Margin (Short Call)	0.02 * Underlier Index Price + Mark Price + Abs(Funding Rate) * Position Size
Min. Maintenance Margin (Short Put)	Max (0.02 * Underlier Index Price, 0.02 * Mark Price) + Mark Price + Abs(Funding Rate) * Position Size

Abs(Funding Rate) is capped at 0.3% for perpetual futures and 10% for perpetual options.

Definitions

• Abs(Funding Rate) refers to the absolute value of the Funding Rate.

• Underlier refers to the underlying asset of the derivatives contract.

• OTM Amount refers to the out-of-the-money (OTM) amount of the options contract. An options contract that is $1,000 out-of-the-money will have an OTM Amount of $1,000.

• Underlier Index Price refers to the Index Price of the underlying asset.

• Mark Price refers to the Mark Price.