The conclusion first: In single-currency mode, profit and loss can only offset positions in the same coin. In cross-currency mode, all assets in your account are used as margin, so gains can cover losses, but a loss in one position drags down the whole account. Cross-currency mode improves capital efficiency, but risk is shared globally.
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Core Difference: Can Risk Be Offset Across Assets?
Single-Currency Margin Mode
In this mode, OKX calculates margin separately for each coin. If you use BTC as margin for a BTC contract, profit and loss are tied only to BTC. Even if you hold a large amount of ETH, a BTC loss cannot be covered by ETH.
Risk control rules: The system calculates the maintenance margin ratio based on the margin currency. When it hits 100%, liquidation triggers and only assets of that coin are liquidated.
Usage requirements: No minimum account equity required; just complete a simple quiz before switching.
Cross-Currency Margin Mode
All assets in your account are converted to USD value and used as cross margin. If your BTC contract loses, floating profit on ETH can offset that loss. As long as the total USD value of the account is sufficient, liquidation won't happen.
Risk control rules: The system calculates the total account maintenance margin ratio. When it hits 100%, liquidation triggers and all assets with staking enabled across the account may be liquidated.
Usage requirements: Total account equity must exceed 10,000 USD, and you need to pass a knowledge test.
Scenario A: Single-Currency Mode – Each Coin Keeps Its Own P&L
If you hold a BTC long position and an ETH short position at the same time, the two positions cannot share margin. If the BTC position loses enough to trigger liquidation, only BTC-related assets are liquidated. The ETH position's P&L is independent and unaffected.
Best for: Beginners, or anyone who wants to strictly isolate risks by coin and avoid a bad call on one asset dragging down all others in the account.
Scenario B: Cross-Currency Mode – Sink or Swim Together
Again holding a BTC long and an ETH short, all assets in the account (BTC, ETH, USDT, etc.) are treated as one pool of margin. During sharp market moves, a BTC loss can be offset by ETH gains, keeping the maintenance margin ratio temporarily stable and pushing the liquidation price further away.
Risk warning: If the market suddenly reverses and crashes, all assets in the account can be liquidated together because the maintenance margin ratio is calculated at the account level, not per coin. Cross-currency mode suits advanced users with cross-asset hedging strategies. Beginners should note: In isolated margin mode, positions and margin are independent and cannot share assets; only cross-margin mode with cross-currency full margin and portfolio margin enables risk offset between different coins.
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After Switching Modes
How to check: In OKX's [Assets] – [Account Mode], you can view your current mode at any time. For cross-margin positions, see how the margin ratio is calculated: single-currency mode looks only at that coin's assets, while cross-currency mode looks at total account assets.
Next steps: When switching from single-currency to cross-currency mode, the system checks if your assets are sufficient to prevent immediate liquidation. It's best not to hold high-leverage positions; reopen positions after the switch is complete. If your assets are small (below 10,000 USD), cross-currency mode cannot be activated; simply stay in single-currency mode.
