BeaconKý Quỹ Duy Trì Defined
Maintenance margin is the minimum amount of collateral you must hold in your account to keep a leveraged position open. It is the line in the sand between an active position and a liquidation. When your account equity drops below the maintenance margin requirement, the exchange will begin the process of force-closing your position to prevent further losses.
Think of maintenance margin as the minimum balance your position needs to stay alive. You start with initial margin (the deposit required to open the position), and as the trade moves against you, your effective margin decreases. Once it hits the maintenance margin level, the exchange intervenes to protect itself and other traders from the risk of your position going further underwater.
How Ký Quỹ Duy Trì Triggers Thanh Lý
The thanh lý process is straightforward. At all times, the exchange monitors your tỷ lệ ký quỹ - the ratio of your current equity to your vị thế value. This ratio is compared against the ký quỹ duy trì rate for your asset and kích thước vị thế. When your tỷ lệ ký quỹ drops to or below the ký quỹ duy trì rate, thanh lý is triggered.
For example, suppose you open a $10,000 vị thế long on BTC with 10x đòn bẩy ($1,000 of ký quỹ). If the ký quỹ duy trì rate is 0.5%, you need at least $50 of equity to maintain the vị thế. Your vị thế would be bị thanh lý when your losses reach $950 - which corresponds to roughly a 9.5% price drop from your entry.
The exchange checks your margin ratio against the mark price, not the last traded price. This protects you from being liquidated by temporary price wicks or manipulation. Your liquidation price is calculated in advance and displayed in the trading interface so you always know your risk threshold.
Ký Quỹ Duy Trì Calculation
The basic formula for ký quỹ duy trì is: Ký Quỹ Duy Trì = Vị Thế Value multiplied by Ký Quỹ Duy Trì Rate. The ký quỹ duy trì rate varies by asset and sometimes by kích thước vị thế. For major crypto assets on Hyperliquid, ký quỹ duy trì rates typically range from 0.5% to 2.5%.
Your margin ratio is calculated as: Margin Ratio = Account Equity divided by Position Value. When the margin ratio equals the maintenance margin rate, you are at the liquidation threshold. Account equity includes your deposited collateral plus any unrealized PnL from open positions.
In cross margin mode, maintenance margin is calculated against your entire account balance. In isolated margin mode, it is calculated only against the margin assigned to that specific position. Use the liquidation calculator to determine your exact maintenance margin and liquidation price.
Relationship to Đòn Bẩy
Leverage and maintenance margin are inversely related concepts. Higher leverage means a larger position relative to your margin, which means less room for adverse price movement before hitting the maintenance margin threshold. At 2x leverage, a 50% price drop would be needed to wipe out your margin. At 20x leverage, just a 5% drop achieves the same result.
This is why understanding ký quỹ duy trì is so critical for giao dịch có đòn bẩy. The higher your đòn bẩy, the closer your effective ký quỹ is to the maintenance threshold from the moment you open the vị thế. With 100x đòn bẩy and a 0.5% ký quỹ duy trì rate, you are already starting very close to the thanh lý line.
Smart quản lý rủi ro means choosing a đòn bẩy level that gives you enough distance between your current ký quỹ and the maintenance threshold. This buffer is what allows your vị thế to survive normal price fluctuations without being prematurely bị thanh lý.
How to Stay Above Ký Quỹ Duy Trì
The simplest way to maintain a safe tỷ lệ ký quỹ is to use conservative đòn bẩy. If you are comfortable with 10x but only truly need 3x, the extra buffer can save your vị thế during volatile periods. It is better to have unused ký quỹ capacity than to be bị thanh lý during a temporary dip.
Setting lệnh cắt lỗ is another effective approach. A cắt lỗ will close your vị thế at a predetermined price before it reaches the thanh lý threshold, giving you control over your maximum loss rather than leaving it to the hệ thống thanh lý.
You can also add ký quỹ to an existing vị thế if it is moving against you. In chế độ ký quỹ cách ly, adding ký quỹ directly pushes the giá thanh lý further from the current price. In chế độ ký quỹ chéo, depositing additional USDC to your account achieves the same effect. Monitor your tỷ lệ ký quỹ regularly and act before it reaches critical levels.