> ## Documentation Index > Fetch the complete documentation index at: https://docs.derive.xyz/llms.txt > Use this file to discover all available pages before exploring further. # Standard Margin Parameters ## Account Details | Parameter | Contract Variable | Value | Description | | -------------------- | ----------------------------- | ------- | ------------------------------------------------------------------------------------------------------------- | | BORROW\_ENABLED | `base.can_borrow` | TRUE | Standard margined subaccounts can enter a negative cash balance, and a negative base balance, by borrowing. | | maxAccountSize | `Srm.max_subaccount_size` | 64 | The maximum number of assets (options, base, cash, perpetuals) held by a single standard margined subaccount. | | LIQUIDATION\_PENALTY | `Srm.liquidation_penalty_bps` | 500 bps | Penalty applied when the subaccount is liquidated. | ## Delta-1 Margin Parameters Margin requirements for delta-1 instruments (perpetual futures and dated futures). Dated futures are not listed at V3 launch; their requirements are shown because the configuration exists. | Parameter | Contract Variable | BTC/ETH | SOL | HYPE | XRP | ZEC/LIT/PUMP | XAUT | ADA/VVV | CC | LINK | Description | | ------------- | ------------------ | ------- | ----- | ---- | ----- | ------------ | ---- | ------- | ---- | ----- | ------------------------------------------------------------------------------------ | | PERP\_REQ\_MM | `perp.mm_perp_req` | 0.05 | 0.067 | 0.08 | 0.067 | 0.10 | 0.08 | 0.15 | 0.10 | 0.067 | Percentage of the spot price per perpetual contract required for maintenance margin. | | PERP\_REQ\_IM | `perp.im_perp_req` | 0.066 | 0.077 | 0.10 | 0.10 | 0.15 | 0.10 | 0.20 | 0.15 | 0.10 | Percentage of the spot price per perpetual contract required for initial margin. | ## Isolated Option Margin Parameters These govern the margin requirement for isolated short option positions. | Parameter | Contract Variable | BTC/ETH/XAUT | SOL | HYPE/XRP | ZEC/ADA/CC/LIT/PUMP/VVV | Description | | ---------------------- | --------------------------- | ------------ | ---- | -------- | ----------------------- | --------------------------------------------------------------------------------------------------- | | SHORT\_CALL\_IM\_MAX | `option.max_spot_req_call` | 0.15 | 0.24 | 0.30 | 0.35 | The maximum percentage of the spot price required as additional initial margin for a short call. | | SHORT\_CALL\_IM\_MIN | `option.min_spot_req_call` | 0.13 | 0.18 | 0.25 | 0.30 | The minimum percentage of the spot price required as additional initial margin for a short call. | | SHORT\_PUT\_IM\_SPOT | `option.max_spot_req_put` | 0.15 | 0.24 | 0.30 | 0.35 | The spot leg of the short put initial margin requirement. | | SHORT\_PUT\_IM\_STRIKE | `option.max_strike_req_put` | 0.13 | 0.18 | 0.25 | 0.30 | The strike leg of the short put initial margin requirement. | | CALL\_MM | `option.mm_call_spot_req` | 0.09 | 0.14 | 0.18 | 0.20 | A constant percentage of the spot price required as additional maintenance margin for a short call. | | PUT\_MM\_SPOT | `option.mm_put_spot_req` | 0.09 | 0.14 | 0.18 | 0.20 | The spot leg of the short put maintenance margin requirement. | | PUT\_MM\_STRIKE | `option.mm_put_strike_req` | 0.09 | 0.14 | 0.18 | 0.20 | The strike leg of the short put maintenance margin requirement. | ## Spread Margin Parameters These govern the margin requirements for sub-portfolios with naked short calls and spreads. | Parameter | Contract Variable | BTC/ETH/XAUT | SOL | HYPE/XRP/ZEC/ADA/CC/LIT/PUMP/VVV | Range | Description | | ------------------- | -------------------------- | ------------ | ---- | -------------------------------- | ------------ | -------------------------------------------------------------------------------------------------------------- | | UNPAIRED\_SCALE\_IM | `option.unpaired_im_scale` | 1.2 | 1.25 | 1.3 | \[1.01, 3.0] | A large percentage of the forward price per "naked" short call per expiry, added to the offset initial margin. | | UNPAIRED\_SCALE\_MM | `option.unpaired_mm_scale` | 1.1 | 1.2 | 1.25 | \[1.01, 3.0] | As above, for maintenance margin. | ## Collateral Factors SM expresses collateral credit as a multiplicative **factor**, not a deduction: ```python Formula theme={null} credit towards MM = value x MM_FACTOR credit towards IM = value x IM_FACTOR ``` Cells are `IM factor / MM factor`. A dash means the universe does not accept that token. | Asset | Prime | Hype | Alt | RWA | | ------- | -------------- | -------------- | -------------- | -------------- | | BTC | 0.6975 / 0.75 | 0.6975 / 0.75 | 0.6975 / 0.75 | 0.6975 / 0.75 | | cbBTC | 0.6975 / 0.75 | 0.6975 / 0.75 | 0.6975 / 0.75 | 0.6975 / 0.75 | | LBTC | 0.595 / 0.7 | 0.595 / 0.7 | 0.595 / 0.7 | 0.595 / 0.7 | | ETH | 0.75 / 0.8 | 0.75 / 0.8 | 0.75 / 0.8 | 0.75 / 0.8 | | wstETH | 0.72 / 0.8 | 0.72 / 0.8 | 0.72 / 0.8 | 0.72 / 0.8 | | weETH | 0.546 / 0.7 | 0.546 / 0.7 | 0.546 / 0.7 | 0.546 / 0.7 | | HYPE | — | 0.55002 / 0.6 | — | — | | kHYPE | — | 0.4998 / 0.6 | — | — | | SOL | — | — | 0.6045 / 0.65 | — | | jitoSOL | — | — | 0.5655 / 0.65 | — | | fXRP | — | — | 0.552 / 0.6 | — | | cbADA | — | — | 0.5005 / 0.55 | — | | XAUT | — | — | — | 0.75 / 0.8 | | USDT | 0.95942 / 0.98 | 0.95942 / 0.98 | 0.95942 / 0.98 | 0.95942 / 0.98 | | USDe | 0.79985 / 0.85 | 0.79985 / 0.85 | 0.79985 / 0.85 | 0.79985 / 0.85 | | sUSDe | 0.7 / 0.8 | 0.7 / 0.8 | 0.7 / 0.8 | 0.7 / 0.8 | | DRV | 0.099 / 0.15 | 0.099 / 0.15 | 0.099 / 0.15 | 0.099 / 0.15 | ## Stablecoin Margin Parameters These control the extra initial margin required when USDC, the designated cash asset, depegs. | Parameter | Contract Variable | All markets | Range | Description | | --------------- | ----------------- | ----------- | ------------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | | DEPEG\_FACTOR | `depeg_scale` | 2.0 | \[0, 10] | Each short option and perpetual held by the subaccount attracts extra initial margin scaling with DEPEG\_FACTOR and the shortfall of the USDC price below the threshold. | | USDC\_THRESHOLD | `depeg_threshold` | 0.99 | \[0.0, 1.05] | Value of USDC beneath which the depeg contingency begins to apply. | ## Confidence Margin Parameters These control the extra initial margin required when a data feed has low confidence. | Parameter | Contract Variable | All markets and collateral | Range | Description | | --------------------- | ------------------------------------------------------------------------------------------------------ | -------------------------- | --------- | -------------------------------------------------------------------------------------------------- | | CONFIDENCE\_SCALE | `oracle.oc_factor` | 1.0 | \[0, 2.0] | Percentage of the spot price per short option, base or perpetual contract added to initial margin. | | THRESHOLD\_CONFIDENCE | `oracle.perp_threshold`, `oracle.option_threshold`, `oracle.base_threshold`, `oracle.future_threshold` | 0.55 | \[0, 1.0] | Value of the confidence beneath which extra initial margin is added. | ## Related topics - [Portfolio Margin Parameters](/untitled-page-3.md) - [Standard Margin](/standard-margin.md) - [Common Parameters](/common-parameters-parameters-that-are-not-specific-to-one-margin-engine-listing-and-settlement-limits-the-oracle-feeds-both-engines-read-and-the-fees-charged-on-trading-and-on-account-creation-per.md)