Margin Framework

Flash Trade's margin system uses two numbers to manage risk on every position:

• Initial margin — the minimum collateral to open a position: position size × (1 / max initial leverage)

• Maintenance margin — the minimum collateral to keep it open: position size × (1 / max maintenance leverage) — crossing it triggers liquidation

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Leverage limits by market group

Standard initial leverage caps at 100x on crypto markets and 200x on synthetic markets in the trade panel; Degen Mode raises the initial cap to 500x on SOL, BTC, and ETH. Maintenance leverage is much higher than initial leverage — that gap is your buffer before liquidation:

Market group	Standard max initial leverage	Degen Mode	Max maintenance leverage
Crypto majors (SOL, BTC, ETH)	100x	up to 500x	1000x
Forex pairs	200x	—	2000x
Metals (gold, silver)	100–130x	—	200x
Oil, gas	7–12x	—	50–100x
Defi Pool markets	13–60x	—	100x
Meme markets	30x	—	50x
Equities	25x	—	50x

Values are per-market protocol parameters as of 2026-07-03 and are tuned over time; the leverage slider in the trade panel always shows the live limit for the selected market.

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Conservative pricing during volatility

During periods of extreme volatility, position pricing follows conservative principles: the oracle's confidence interval is applied so that prices used for opening, closing, and liquidation calculations maximize liabilities and minimize assets for traders.

For longs

The lower bound of the oracle confidence interval values your collateral and PnL — both are discounted, so liquidation can arrive earlier than mid-price math suggests.

For shorts

The upper bound of the confidence interval prices your position — reducing recognized profit while volatility is elevated.

Practical takeaway. During volatile periods, run lower leverage and keep collateral well above the minimum — conservative pricing means liquidation distance is shorter than it looks. See Pricing Engine for how oracle confidence works.