Documentation Index
Fetch the complete documentation index at: https://docs.ultramarkets.xyz/llms.txt
Use this file to discover all available pages before exploring further.
Margin and Leverage
Minimum Margin
$10 USDC
Maximum Leverage
Up to 10x (varies by market)
Position Size
Margin × Leverage
| Leverage | $1,000 Margin | Approx. Move to Liquidation |
|---|---|---|
| 2x | $2,000 position | ~27% adverse move |
| 5x | $5,000 position | ~11% adverse move |
| 10x | $10,000 position | ~5.5% adverse move |
Fees
| Fee | Rate | Applied to | When |
|---|---|---|---|
| Market order open fee | 0.5% | Margin | On position open |
| Limit order open fee | 1.5% | Margin | On limit order creation |
| Performance fee | 10% | Trader’s profit | On winning settlement |
Market Order Open Fee
0.5% of your margin, charged when the position opens.| Margin Amount | Fee |
|---|---|
| $1,000 | $5 |
| $5,000 | $25 |
Limit Order Open Fee
1.5% of your margin, charged when the limit order is created.| Margin Amount | Fee |
|---|---|
| $1,000 | $15 |
| $5,000 | $75 |
If a limit order is partially filled and then cancelled or expires, the fee on the unfilled portion is refunded proportionally. For example, if 60% of your order fills and the rest is cancelled, you get back 40% of the open fee.
Performance Fee
If you close in profit, 10% of your profit goes to LPs. You keep 90%.| Gross Profit | LP Share | Your Take |
|---|---|---|
| $2,000 | $200 | $1,800 |
| $500 | $50 | $450 |
No performance fee if you close at a loss. You only pay when you win.
Longs and Shorts
Long (YES)
You profit when the probability goes up.- Entry at 40%, exit at 50% = profit
- Entry at 40%, exit at 30% = loss
Short (NO)
You profit when the probability goes down.- Entry at 60%, exit at 50% = profit
- Entry at 60%, exit at 70% = loss
Both directions work the same way mechanically. You’re always trading the market price you see.