Multi-Asset Margin
Multi-Asset Margin lets you use selected non-USDC assets as collateral for futures trading on SoDEX. All supported assets listed below can be transferred from your Spot account to your Margin & Futures account. Once transferred, they automatically count toward your margin - no extra step is required.
Multi-Asset Margin applies to Cross Margin mode only. Positions opened in Isolated Margin mode cannot use multi-asset collateral and must be margined with USDC.
Supported Assets & Collateral Ratios
USDC
100%
Primary margin (no haircut)
BTC
90%
Multi-asset collateral
XAUT
90%
Multi-asset collateral
ETH
90%
Multi-asset collateral
SOSO
50%
Multi-asset collateral
Supported assets are valued at their index price and discounted by a collateral ratio before counting toward your margin, so you can put assets like BTC and ETH to work without converting them to USDC first.
The margin contribution of each asset is calculated as:
Multi-Asset Margin = Asset Balance × Index Price × Collateral Ratio
Your total margin is the sum of this value across your USDC balance and supported assets in your Margin & Futures account. Assets held in your Spot account do not count toward your margin until transferred.
For example, 1 BTC at an index price of $100,000 with a 98% collateral ratio contributes $98,000 of margin.
Deposit Limit
Each deposit is checked against a $500,000 USD cap on the account's total collateral value (after applying collateral ratios):
Current Account Collateral Value + Incoming Collateral Value ≤ $500,000
If a deposit would push the total above $500,000, the entire deposit will be rejected - it is not partially filled. The cap applies only to supported non-USDC assets. Your USDC balance never counts toward it. The cap is only checked at the moment of deposit. If price movements later push your account's collateral value above $500,000, your existing collateral remains fully usable for trading - only further deposits are rejected. Once the value falls back below the cap, deposits are accepted again up to the remaining headroom.
In addition to the $500,000 USD cap, SOSO has its own separate limit: at most 30,000 SOSO or 10,000 USDC worth of SOSO (valued at index price), whichever is smaller, can be held as multi-asset collateral.
SOSO Collateral ≤ min(30,000 SOSO, 10,000 USDC worth of SOSO)
This limit works the same way as the account-level cap: it is checked at the moment of deposit, and a deposit that would exceed it is rejected in full.
Withdrawing Collateral
To protect open positions, your account value is measured cautiously when you withdraw: it is reduced by any unrealized losses, but receives no credit for unrealized profits. After the withdrawal, your remaining account value must still cover the total initial margin of your open Cross Margin positions:
Collateral Value (after withdrawal) + Unrealized Losses ≥ Total Initial Margin
Collateral Value - all margin assets after the withdrawal, valued at index price and discounted by collateral ratio.
Unrealized Losses - the sum of negative PnL across your open Cross Margin positions. Positive PnL is counted as zero.
Total Initial Margin - the combined initial margin requirement of your open Cross Margin positions.
This check counts Cross Margin positions only; Isolated Margin positions are margined separately and are not part of the calculation.
💡 Tip: Unrealized profit doesn't increase the amount you can withdraw. To free up collateral backed by profits, close the position first.
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