Detailed Comparison Between Contract Mode and Cross-Currency Margin Mode

Introduction

OKX Unified Account currently supports three account modes: Spot Mode, Contract Mode, and Advanced Mode (which includes Cross-Currency Margin and Portfolio Margin). This article provides a detailed comparison between Contract Mode and Cross-Currency Margin Mode across trading scope, position types, fund utilization rules, risk control mechanisms, and eligibility criteria.

Trading Scope

Trading Scope	Contract Mode	Cross-Currency Margin Mode
Spot Trading	✅ Supported	✅ Supported
Spot Margin (Creates Position)	✅ Supported (Borrowing assets creates a leveraged position)	✅ Supported (Only in isolated margin)
Spot Margin (No Position)	❌ Not Supported	✅ Supported (Only in cross margin)
Perpetual/Futures Contracts	✅ Supported (Both cross and isolated margin)	✅ Supported
Options	✅ Supported (❌ No long option positions in cross margin)	✅ Supported (❌ No long option positions in cross margin)

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Key Notes:

Spot Margin (Creates Position): Borrowing assets generates interest-adjusted leverage positions.
Spot Margin (No Position): Cross-margin trades reflect directly in asset balances without creating separate positions.

Position Types

Position Type	Contract Mode	Cross-Currency Margin Mode
One-Way Positions	✅ Supported	✅ Supported
Two-Way Positions	✅ Supported	✅ Supported

One-Way Positions: Single-direction holdings per asset (long or short).
Two-Way Positions: Simultaneous long/short holdings (for futures only).

Fund Utilization Rules

Rule	Contract Mode	Cross-Currency Margin Mode
Cross-Margin Calculation	Same-currency collateral pools	All pledged assets (converted to USD)
Floating Profit for New Trades	✅ Supported	✅ Supported
Floating Profit Offsetting	✅ Supported	✅ Supported
Custom Collateral Assets	❌ Not Supported	✅ Supported

Custom Collateral: Users can select multiple assets as collateral, discounted by asset-specific rates, to calculate usable margin.

Risk Control Rules

Rule	Contract Mode	Cross-Currency Margin Mode
Maintenance Margin Calculation	Same-currency positions share risk	All cross-margin positions share risk
Liquidation Trigger	100% maintenance margin for the currency	100% account-level maintenance margin
Liquidation Loss Assets	Collateral currency assets	All pledged assets

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Eligibility Criteria

Criteria	Contract Mode	Cross-Currency Margin Mode
Minimum Equity	❌ None	✅ 10,000 USD
Knowledge Test	❌ Not Required	✅ Required
Margin Rate Check for Switches	✅ Required	✅ Required

Important: Switching modes triggers a maintenance margin check to prevent post-switch liquidations.

FAQs

Q1: Can I trade options in Contract Mode?
A1: Yes, except for long option positions in cross margin.

Q2: How does collateral work in Cross-Currency Margin?
A2: Pledged assets are discounted and pooled as USD-value margin.

Q3: What happens if my maintenance margin hits 100%?
A3: Positions face liquidation—losses apply to collateral (Contract Mode) or all pledged assets (Cross-Currency Margin).

Q4: Is isolated margin available in Cross-Currency Margin?
A4: Only for spot margin trades; futures/options use cross margin.

This document is for informational purposes only. Digital assets involve risks; leverage may magnify losses. OKX does not provide investment advice. View full disclaimers.