Many new futures traders focus on initial margin because it determines how much capital is needed to open a position. The more dangerous number is maintenance margin, the minimum equity that must remain for the position to stay open. When account equity falls below the exchange’s requirement, liquidation systems can reduce or close the position.
The risk is not only price direction. Funding fees, unrealized losses, unrealized profit rules, fees and tiered margin schedules can all change the buffer. A position that looks safe at low size may become more fragile if the trader increases notional exposure into a higher risk tier.
A better workflow is to calculate the liquidation buffer before entry, set a stop before the exchange liquidation level, and reduce size when volatility expands. Adding collateral can buy time, but it does not fix an oversized trade. The discipline is to decide maximum loss before the platform decides for you.
Sources: Binance liquidation protocols; Bybit initial margin guide; OKX maintenance margin ratio guide.
Risk notice: Futures and perpetual contracts are high-risk products. Liquidation can occur quickly during volatile markets, and this article is not personalized trading advice.
原创文章，作者：financial transaction，如若转载，请注明出处：https://www.fanbi.net/archives/2125
