Trade
Liquidations
When and how a position is closed automatically.
What liquidation is
When losses bring a position's remaining collateral down to the maintenance margin of 0.25% of its size, the position is closed automatically. This protects the liquidity vault from losses larger than your collateral, so your balance can never go negative.
Liquidation price
Evergreen uses isolated margin: each position has its own collateral and its own liquidation price.
- Long: entry × (1 − 1 / leverage + 0.25%)
- Short: entry × (1 + 1 / leverage − 0.25%)
The webapp shows this price in the order summary before you trade. Fees, funding and borrowing reduce your collateral over time and move the liquidation price closer.
How far the price can move
For an entry price of $335.92:
| Leverage | Adverse move to liquidation | Long liquidates at | Short liquidates at |
|---|---|---|---|
| 2× | 49.75% | $168.80 | $503.04 |
| 5× | 19.75% | $269.58 | $402.26 |
| 10× | 9.75% | $303.17 | $368.67 |
| 25× | 3.75% | $323.32 | $348.52 |
| 50× | 1.75% | $330.04 | $341.80 |
| 100× | 0.75% | $333.40 | $338.44 |
| 200× | 0.25% | $335.08 | $336.76 |
At 200×, a move of just 0.25% against you closes the position. Normal minute-to-minute price noise can be enough.