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Inverse Derivatives Margin Schedule & Maximum Leverage
At Kraken Derivatives we use Initial Margin (IM) and Maintenance Margin (MM) to manage the credit risk arising from open positions.
The larger a trader's position, the more liquidity is required to unwind that position in the event of an adverse price move.
Additionally, the more volatile a currency pair, the higher the margin that is required to withstand typical price moves. IM and MM are therefore a function of both, contract type and of position size, as shown in the following tables:
Single-Collateral Perpetual Inverse Derivatives Margin Levels and Limits:
Units
Level I
Level II
Level III
Level IV
Level V
Level VI
Level VII
Level VIII
Level IX
Level X
Maximum
Bitcoin-Dollar Derivatives
Contracts
0-500,000 
500,000-1,000,000 
1,000,000-3,000,000 
3,000,000-6,000,000
6,000,000- 12,000,000
-
12,000,000-20,000,000
20,000,000-50,000,000
>50,000,000
-
75,000,000
Ether-Dollar Derivatives
Contracts
0-250,000
250,000-500,000
500,000-2,000,000 
2,000,000-5,000,000
5,000,000- 8,000,000
-
8,000,000- 15,000,000
15,000,000- 30,000,000
>30,000,000
-
45,000,000
Litecoin-Dollar Derivatives
Contracts
0-250,000
250,000-500,000
500,000-2,000,000
2,000,000- 4,000,000
>4,000,000
-
-
-
-
-
6,000,000
BitcoinCash-Dollar Derivatives
Contracts
-
0-500,000
500,000-2,000,000
2,000,000- 3,000,000
-
3,000,000- 5,000,000
-
-
-
>5,000,000
10,000,000
Ripple-Dollar Derivatives
Contracts
-
0- 1,000,000
-
>1,000,000
-
-
-
-
3,000,000
Margin Parameters
Leverage
50x
25x
17x
10x
6.7x
5x
4x
3.33x
2.5x
2x
-
Initial Margin
2%
4%
6%
10%
15%
20%
25%
30%
40%
50%
-
Maintenance Margin
1%
2%
3%
5%
7.5%
10%
12.5%
15%
20%
25%
-
Note: Margin percentages are based on the value of the collateral currency at entry price. Margin requirements and maximum position size are calculated for each instrument individually per maturity.
Your IM requirement for the position in the Monthly will be 2%.
Single-Collateral Fixed Maturity Inverse Derivatives Margin Levels and Limits:
Units
Level I
Level II
Level III
Level IV
Level V
Level VI
Level VII
Level VIII
Level IX
Maximum
Bitcoin-Dollar Derivatives
Contracts
0-500,000 
500,000-1,000,000 
1,000,000- 3,000,000 
3,000,000-6,000,000
6,000,000-9,000,000
-
9,000,000- 15,000,000
15,000,000- 30,000,000
>30,000,000
40,000,000
Ether-Dollar Derivatives
Contracts
0-250,000
250,000-500,000
500,000-2,000,000 
2,000,000- 4,000,000
4,000,000- 6,000,000
-
-
>6,000,000
-
15,000,000
Litecoin-Dollar Derivatives
Contracts
-
0-500,000
500,000-2,000,000
2,000,000- 3,000,000
>3,000,000
-
-
-
-
5,000,000
BitcoinCash-Dollar Derivatives
Contracts
-
0-500,000
500,000-2,000,000
2,000,000- 2,500,000
>2,500,000
-
-
-
-
3,000,000
Ripple-Dollar Derivatives
Contracts
-
-
0- 1,000,000
-
>1,000,000
-
-
-
3,000,000
Margin Parameters
Leverage
50x
25x
17x
10x
6.67x
5x
4x
3.33x
2.5x
-
Initial Margin
2%
4%
6%
10%
15%
20%
25%
30%
40%
-
Maintenance Margin
1%
2%
3%
5%
7.5%
10%
12.5%
15%
20%
-
Note: Margin percentages are based on the value of the collateral currency at entry price. Margin requirements and maximum position size are calculated for each instrument individually per maturity.
Your IM requirement for the position in the Monthly will be 2%.