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Used Margin (Initial Margin)
Used margin* is the amount of your trade balance that is initially withheld when you open a spot position on margin. Unlike free margin, used margin does not count unrealized profits/losses.
When you close, or partially close, the position; the used margin will decrease proportionally.
Used margin is calculated as the fraction of the funds from Kraken’s margin pool that are needed to maintain an open position.
Leverage Level
Used Margin
1/2 of the funds used
1/3 of the funds used
1/4 of the funds used
1/5 of the funds used

For example, if you buy 0.1 BTC for 5,000 USD (the price is 50,000 USD per BTC), you have used 5,000 USD from Kraken’s margin pool:
  • At 5X leverage, your used margin is 1,000 USD.
  • At 4X leverage, your used margin is 1,250 USD.
  • At 3X leverage, your used margin is 1,667 USD.
  • At 2X leverage, your used margin is 2,500 USD.
If you sell 0.8 ETH for 2,400 USD (the price is 3,000 USD per ETH), you have used 0.8 ETH from Kraken’s margin pool:
  • At 5X leverage, your used margin is 0.16 ETH.
  • At 4X leverage, your used margin is 0.2 ETH.
  • At 3X leverage, your used margin is 0.2667 ETH.
  • At 2X leverage, your used margin is 0.4 ETH.
Note that since the Used Margin here is in terms of ETH, the USD value of the Used Margin will depend on the ETH/USD price.
*Availability of margin trading services is subject to certain limitations and eligibility criteria.
The decimal and thousands separators shown in this article may differ from the formats displayed on our trading platforms. Review our article on how we use points and commas for more information.