A Unified Trading Account (UTA) consolidates various trading activities, including spot, futures, and options, into a single, streamlined interface. This integrated system supports over 70 different cryptocurrencies as collateral, allowing traders to use unrealized profits to open new positions across different product types. By centralizing these functions, the UTA enhances operational simplicity and capital efficiency, offering a more cohesive trading experience.
This account structure operates on an account-level margin system, which differs from traditional per-position margin calculations. It provides three distinct margin modes—Isolated, Cross, and Portfolio Margin—each designed to accommodate varying risk tolerances and strategic approaches. These modes give traders greater control over their risk management and positional flexibility.
Understanding Margin Modes
The UTA offers three margin modes, each with unique features tailored to different trading styles.
Isolated Margin Mode
In Isolated Margin mode, traders allocate a specific amount of collateral to individual positions. This approach limits potential losses to the funds assigned to each trade, preventing one losing position from affecting others. It operates under a Single Asset Mode, meaning specific assets like USDT can only be used for corresponding contracts (e.g., USDT contracts only).
Supported products include:
- Spot trading
- USDT perpetual contracts
- USDC perpetual contracts
- Inverse perpetual contracts
This mode is ideal for traders who prefer precise risk containment per trade, similar to a Standard Account setup.
Cross Margin Mode
Cross Margin mode utilizes the entire value of the account's assets—including unrealized profits—as collateral for all open positions. Profits and losses from different derivatives can offset each other, and profits can be immediately used to open new positions. It uses a Multi-Asset Mode, where all assets are collateralized as USD for both spot margin and derivatives trading.
Supported products include:
- Spot trading
- Spot margin trading
- USDT perpetual contracts
- USDC perpetual contracts
- USDC options
- Inverse perpetual contracts
This mode enhances capital efficiency by maximizing available margin across the entire portfolio.
Portfolio Margin Mode
Portfolio Margin mode includes all the benefits of Cross Margin but further optimizes margin requirements based on the net risk exposure of the entire portfolio. This advanced method calculates margin at the portfolio level, potentially reducing the total margin needed for diversified positions. It is designed for sophisticated traders with complex, multi-product strategies.
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Auto Borrowing and Repayment
The UTA includes an automated system for borrowing and repaying assets. If an asset's equity falls below zero due to trading losses or unrealized losses, the system automatically borrows the required asset. Conversely, any unrealized profits from borrowed assets are applied to reduce the borrowed amount. Deposits and realized profits are automatically used for repayment, ensuring efficient balance management.
Collateral Value Ratio
In both Cross Margin and Portfolio Margin modes, margin calculations depend on the adjusted equity value of the account. Each asset has a specific collateral value ratio, reflecting its liquidity and risk profile. Stablecoins like USDC and USDT typically have a 100% ratio, while major cryptocurrencies like BTC and ETH may have ratios around 95%.
The total margin balance is calculated as follows:
Total Asset Value (USD) = Σ [Asset Amount × USD Index Price × Collateral Value Ratio]
The USD Index Price is derived from the USDT Perpetual Index Price and a USDT conversion rate. If a USDT Perpetual Index Price isn't available, the last traded price from the spot market is used.
Example Calculation:
Assume a trader holds 1,000 USDT, 1,000 USDC, and 0.1 BTC.
- USDT: 1,000 × 0.9952 × 100% = 995.20 USD
- USDC: 1,000 × 1.00 × 100% = 1,000 USD
- BTC: 0.1 × 16,639.81 × 95% ≈ 1,580.78 USD
Total Margin Balance ≈ 3,575.98 USD
This total represents the amount available for margin across all positions.
Risk Management Protocols
Risk management varies by margin mode. In Cross and Portfolio Margin modes, all risks and assets are calculated in USD. Positions remain open as long as the maintenance margin rate stays below 100%. Liquidation occurs if this rate reaches or exceeds 100%.
In Isolated Margin mode, margin is segregated per position. Liquidation is triggered if the mark price reaches the liquidation price for that specific position, isolating risk to individual trades.
API Management with V5
The UTA supports API V5, which offers enhanced capabilities for traders upgrading from a Standard Account. The interface maintains similar input parameters and JSON returns for a smooth transition. Key improvements include streamlined endpoint names, reducing development effort for trading across different products.
Endpoint Comparison:
- Order Creation: V3 used multiple endpoints; V5 uses
/v5/order/create - Order Amendment: V3 had separate endpoints; V5 uses
/v5/order/amend - Order Deletion: V3 required product-specific calls; V5 uses
/v5/order/cancel - Position Query: V3 had fragmented endpoints; V5 uses
/v5/position/list - Wallet Balance: V3 used different endpoints; V5 uses
/v5/account/wallet-balance
These changes simplify API management and improve integration efficiency.
Frequently Asked Questions
What is a Unified Trading Account?
A Unified Trading Account combines spot, futures, and options trading into one account, allowing shared collateral and margin across all products. It simplifies management and improves capital efficiency by using unrealized profits to open new positions.
How does the Collateral Value Ratio work?
Each asset has a ratio reflecting its liquidity and risk. Stablecoins like USDT and USDC have a 100% ratio, meaning their full value counts as collateral. Volatile assets like BTC and ETH have lower ratios (e.g., 95%), reducing their collateral value to account for price swings.
Can I switch back to a Standard Account after upgrading?
No, upgrading to a UTA is irreversible. The system consolidates all trading activities into one account structure, and reverting to separate spot and derivatives accounts is not supported.
What are the benefits of Portfolio Margin mode?
Portfolio Margin mode calculates margin based on net portfolio exposure, potentially reducing margin requirements for diversified strategies. It offers superior capital efficiency compared to isolated or cross margin modes.
How does auto borrowing work?
If an asset's equity turns negative due to losses, the system automatically borrows the asset to cover the shortfall. Profits from borrowed assets or new deposits automatically repay the debt, maintaining account balance.
Is the UTA suitable for beginners?
The UTA is versatile but may be complex for beginners. Isolated Margin mode offers a familiar, contained risk environment, while Cross and Portfolio modes suit advanced traders seeking higher capital efficiency.
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Upgrading to a Unified Trading Account can be done via the platform's PC trading site or mobile app. This account type is designed for traders seeking integrated management, improved capital utilization, and advanced risk control across all trading activities.