TxFlow uses USDC as the sole collateral asset for all positions.
When opening a position, choose one of two margin modes:
Cross Margin
All cross-margin positions share a single collateral pool, maximizing capital efficiency. Unrealized PnL from one position can offset losses in another.
Experienced traders managing multiple positions
Isolated Margin
Collateral is dedicated to a single position. Liquidation in one isolated position does not affect other positions.
Limiting risk on high-leverage or speculative trades
Leverage lets you control a larger position with less capital. You can select leverage up to the maximum allowed for each asset (see Margin Tiers).
Initial Margin is the collateral required to open a position:
Cross Margin
Initial Margin = Position Size × Mark Price ÷ Leverage
Isolated Margin
Initial Margin = Position Size × Mark Price ÷ Leverage
Once open:
Initial margin is locked and cannot be withdrawn until the position is closed.
Isolated positions: You can manually add margin to reduce liquidation risk.
Cross positions: Unrealized PnL automatically contributes to your total margin balance.
Maintenance Margin is the minimum collateral required to keep a position open. If your equity drops below this level, your position may be liquidated.
Cross Margin
Account value (including unrealized PnL across all cross positions) falls below total maintenance margin requirement
Isolated Margin
That position's margin falls below its individual maintenance margin requirement
Collateral
Shared across all cross positions
Dedicated to single position
Unrealized PnL
Offsets other positions
Only affects that position
Liquidation impact
Can affect all cross positions
Limited to that position only
Add margin manually
No (automatic via shared pool)
Yes
Capital efficiency
Higher
Lower
Risk management
Shared risk
Contained risk
High leverage amplifies both gains and losses. A small price movement can result in significant losses or complete liquidation of your position. Only trade with funds you can afford to lose.
Trading rules of TxFlow
Market, Limit, and advanced orders and matching mechanics
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Maintenance Margin = Position Notional × MMR