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What you can do

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Your numbers

  • Health factor: collateral ÷ debt. Liquidation at 1.10 or below. See Health Factor.
  • Leverage: everything the account holds (borrowed funds included, open perps at full size) ÷ your equity. 1.00x means no borrowing.
  • Collateral left before liquidation: how much value your collateral can lose before the account reaches 1.10.
Every page that can change your account shows a before → after preview of these numbers before you sign.
Leverage can get your account liquidated. Prices, borrow interest, swap slippage, perp funding and vault share prices all move your health factor, which must stay above 1.10. Only use what you can afford to lose.

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How to start

1

Sign in and get test funds

Connect and mint test funds from Deposit (Faucet).
2

Open your account

Open a margin account and deposit collateral.
3

Borrow and use it

Borrow, then swap, trade perps or farm.

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Next steps

Margin overview

Collateral, loans and leverage in one place.

Perps

Long or short on Phoenix.