Q1. What is changing?
We are updating the Maintenance Margin (MM%) rates on perpetual futures contracts. The current 2-tier structure (3% for 1x–5x leverage, 15% for above 5x) is being replaced with a 5-tier structure that assigns different MM% rates based on your leverage level and the token category.
Q2. Why are you making this change?
Higher leverage carries proportionally higher risk. The updated tiered structure better reflects this reality and aligns with industry best practices. It also differentiates between high-liquidity tokens (Top 50 by volume) and other tokens, where volatility and liquidity risks are higher.
Q3. When will this happen?
The transition is happening gradually over March 2026, in 7 steps approximately 1 week apart. Step 1 began on March 2, and the final step is expected by March 23. Exact dates for each step are published in the transition schedule on this page.
Q4. Will my positions get liquidated?
We have designed this rollout specifically to prevent sudden liquidations. Each step increases MM% by a maximum of 2–3 percentage points, and we run safety checks before each step to assess impact on open positions. However, if your position already has a thin margin buffer, the increased MM% could bring it closer to liquidation. We strongly recommend reviewing your positions and adding margin where needed.
Q5. What are the new MM% rates?
The final target rates are as follows:
Top 50 Pairs (by Volume)
All Other Pairs
Q6. How do I know which category my token falls under?
Top 50 tokens are determined by trading volume on the platform. The full list of Top 50 tokens is available in the app under Futures > Contract Info, or you can contact support for the latest list.
Q7. What should I do right now?
Review your open futures positions, particularly those at 25x leverage and above. Check your margin ratio and liquidation price. If any position is close to the liquidation threshold, consider adding margin or reducing your position size. We will also send notifications before each step.
Q8. Will the transition schedule change?
The dates are tentative and subject to safety check outcomes. If a safety check reveals that a step could adversely affect a significant number of positions, we may delay that step. Any schedule changes will be communicated in advance.
Q9. I’m trading at 5x–25x leverage on Top 50 tokens. Am I affected?
The MM% for the 5x–25x tier on Top 50 tokens remains unchanged at 15%. You are not directly affected, but we still recommend monitoring your positions during the transition period.
Q10. Who can I contact for questions?
Our support team is available 24/7 via in-app chat or at support@pi42.com. You can also ask questions in our Telegram/Discord community channels.
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