1
Create the margin account
user_create_margin if ["margin", authority] has no data.2
Deposit collateral
user_deposit_collateral for each mint. The token must be collateral-enabled and on the allowed list.3
Borrow
user_borrow(assets, max_debt_shares). It opens the DebtPosition itself. Only USDC, USDT and SOL are borrowable.4
Deploy
margin_execute into Jupiter, Titan, Kamino, Phoenix (via Ember), Perena or a basis vault. Create the receiving margin vault from the wallet first.5
Unwind
user_repay_from_margin (with repay_all for the exact debt), user_withdraw_collateral, user_reclaim_rent, then user_close_margin when empty.Remaining accounts
Borrow, withdraw-with-debt,margin_execute and liquidation need every allowed-token group, every venue group, and every debt group (except the instruction’s own), followed by the oracle segment. See Architecture.
The app helper is buildHealthRemainingAccounts in lib/solana/margin.ts. If you omit a holding or a debt, the program rejects the transaction. Do not “optimize” the list.
Health preview
Preview health on the client (lib/account-model.ts) using the same price sources as the oracle (lib/solana/oracle.ts). The chain is the source of truth. The app’s own limits target HF ≥ 1.15 so price drift between quote and execution doesn’t trip the on-chain HF > 1.10 check.