初始保证金是开仓所需的 USDC。它是你开仓时锁定的抵押品，从你可用的永续合约现金余额中扣除。

金额取决于你的仓位大小和杠杆选择。一个 1,000 USDC 的仓位用 10x 杠杆需要 100 USDC 的初始保证金。同样 1,000 USDC 的仓位用 5x 杠杆则需要 200 USDC。

杠杆越高，开同样大小的仓位所需投入的初始保证金就越少。

维持保证金是让你的仓位保持开启的底线。它是仓位要维持下去必须持有的最低抵押品。它等于该市场最高杠杆下初始保证金的一半，所以在 BTC 这样的 40x 市场上，它是仓位大小的 1.25%。

只要你仓位里的保证金（你锁定的抵押品加上任何未实现盈亏）保持在维持保证金之上，仓位就会继续运行。一旦跌破，你的仓位会被自动强平。

你的杠杆选择决定了这两者之间的差距。杠杆越高，初始保证金越少，你的仓位从一开始就离维持保证金的底线更近。这意味着一个更小的不利波动就足以把你推到底线以下并触发强平。

杠杆越低，投入的初始保证金越多，仓位在维持保证金之上就有更多空间，也更难被强平。

关于强平的文章会讲到跌破这条底线时会发生什么，关于调整持仓保证金的文章会讲到在交易已经运行时如何添加或移除抵押品来改变这个关系。

除非你另行选择，fomo 上的仓位都使用逐仓模式。这意味着每个仓位有自己专属的抵押品。如果某个逐仓仓位出现亏损，只有分配给该仓位的保证金有风险。一旦你选择了全仓，app 会为你之后的订单记住这个选择。

你也可以在交易页面改选全仓：在移动端点击逐仓标签，选择全仓并点击保存；在网页版使用下单面板上的逐仓与全仓切换开关。之后你的全仓仓位会共用你的永续合约现金余额作为抵押品。详细说明见 https://help.fomo.family/en/articles/17983871-cross-margin-on-perps。

在逐仓模式下，你的其他仓位和永续合约现金余额的其余部分都受到保护：即使某个仓位被完全强平，你损失的也只是那个仓位的保证金。在全仓模式下，损失可能超出开仓保证金，波及更多的永续合约现金余额。

永续合约（“Perps”）由第三方协议提供，不向美国人士（美国公民、居民或任何身处美国境内的人）开放。请勿尝试在美国境内访问永续合约。

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Representations and Warranties. By accessing or using Perps functionality, you represent and warrant that: (a) you are not a U.S. Person; (b) you are not accessing Perps from within the United States; (c) you are not accessing Perps on behalf of, or for the benefit of, any U.S. Person; (d) you will not use any technology, mechanism, or technique (including a VPN, proxy, or similar tool) to circumvent or attempt to circumvent geographic restrictions on Perps; and (e) you understand that these representations are material and that Fomo is relying on them in providing you access to Perps functionality.