What assets can I use as margin for X-Perps?
One of the key features of X-Perps is multi-asset margin. You can use your existing crypto holdings as margin — putting your crypto to work without needing to sell it or hold cash separately.
Note: this article is for verified users trading X-Perps in the EEA region.
Which assets can I use as margin for X-Perps?
X-Perps uses multi-asset margin, so balances you already hold in your trading account can support a position instead of being sold first. An asset supports margin only once it is enabled as a margin asset in your account settings, so holding it is not enough on its own.
The set of assets that can be enabled is defined by product settings and can change. Open the margin asset settings in the OKX app or on web and check the list shown for your account before you place an order.
What is the difference between a collateral asset and a settlement asset?
A collateral asset supports the margin requirement of your position. A settlement asset is the unit your position is denominated in and the unit its profit and loss is recorded in. These are two separate settings, so enabling an asset as collateral does not make it the settlement unit of a position, and holding an asset does not by itself make it either one.
If your profit and loss is recorded in a unit you did not expect, check the settlement asset selected for the position first, then check your collateral settings.
Why does my X-Perps order screen show no available margin?
Work through these checks in order when the order screen shows no usable margin while your account holds a balance.
Check the settlement asset selected for the order, and confirm your balance is held in a unit the selected settlement route uses.
Check whether the asset is enabled as a margin asset in your account settings. An asset that is not enabled is not counted towards margin.
Check where the balance sits. A balance in your funding account is not available to an X-Perps order until it is transferred to your trading account.
Check the margin mode set for the position. The margin available to an isolated position is limited to what is assigned to that position.
Check whether the balance is already supporting an open position or a resting order. A committed balance is part of your account but is not free margin.
If the balance is committed, closing or reducing the position, or cancelling the resting order, releases it. If none of these checks explain the result, contact support with the instrument, the exact amount shown, and the time of the attempt.
Why does my spot sellable amount show 0 while I hold the asset?
An asset that is supporting margin for an open position is not free to sell. When a balance is committed to a position, the sellable amount in the spot order panel can show 0 even though the asset is in your account. Reduce or close the position the asset is supporting, or cancel the order holding it, then place the spot order again.
How is my collateral valued, and what is a haircut?
Collateral is not necessarily counted at its full market value. A haircut is a discount applied to an asset's value when that asset is counted towards margin, so an asset can support less margin than its market value suggests. The discount and the market price can both move, so the margin supported by the same holding can change over time.
Margin assets, applicable haircuts, and the conditions attached to them may change. Check current values on the OKX discount rate page, and check the margin asset settings in the OKX app for the values that apply to your account.
What does a negative settlement balance mean?
A negative balance in a settlement asset means that amount is owed on your account. It reduces the equity supporting your open positions until it is covered, so it can also reduce the margin you have available. Holding more of that settlement asset in your trading account covers it. To see the current amount, open your account balance page and check the balance recorded for that settlement asset.
To learn more about OKX products, visit here.