⚠︎ Risk warning: leveraged derivatives on unregulated platforms — you can lose everything you deposit. Not investment advice.
Margin and position modes on Aster
Verified against Aster's official docs on 2026-09-29. Collateral ratios can change; the table below is a dated copy of the docs.
Three separate switches decide how an Aster Perps account behaves: the margin mode of each position, the position mode of the account, and the asset mode that decides what counts as collateral. Initial margin is (position size × mark price) ÷ leverage, and maintenance margin depends on position size, not the leverage you pick: "as position size increases, higher portions fall into higher maintenance margin tiers".
Cross or isolated
Cross is the default: margin is shared, so profits on one position support another, but "your entire margin balance is at stake." Isolated puts only that position's margin at risk. You choose before opening; the docs say you "cannot change the margin mode after submitting a position or placing an open order."
One-way or hedge mode
One-way mode allows one direction per contract. Hedge mode lets you hold a long and a short on the same contract at once. Switch under Settings → Position Mode, but "Position Mode cannot be changed while you have open positions or open orders." Grid strategies need one-way mode.
Single-asset or multi-asset collateral
Single-asset mode takes USDT and USD1 as collateral, with PnL calculated per position. Multi-asset mode accepts a range of assets, including restaked tokens, discounted by a collateral value ratio, and nets gains and losses across all positions. It "operates in cross margin only."
| Asset (Aster Perps on BNB Chain) | Counts at |
|---|---|
| USDT, USDF, BonusUSD | 99.99% |
| USD1 | 99% |
| BTC, ETH, BNB, asBNB | 95% |
| SlisBNB, LisUSD, WBETH, Stone | 90% |
| TSLAB, CRCLB, SNDKB, NVDAB | 90% |
| ASTER | 80% |
| Cake | 30% |
| LISTA, TWT | 10% |
The docs list separate, shorter tables for Ethereum (BTC, ETH, USDT, USD1, RSETH, USDC), Arbitrum (USDT, ETH, USDC, USDC.e) and Solana (USDT, ETH, USDC, JLP, SOL).
Negative balances: auto-exchange and interest
In multi-asset mode you can run a negative USDT or USD1 balance. Aster exchanges your other collateral into it automatically when the balance falls below −10,000 USD, during a forced liquidation that USDT cannot cover, or when your loan-to-value reaches 0.995 with no positions or orders open. The exchange takes a haircut; the docs' example converts BTC worth 10,256 USDT to clear a 10,000 USDT deficit.
Since 9 April 2026, negative balances also pay interest beyond a free threshold of −1,000 USD (USDT and USD1 counted separately). It accrues hourly on the excess; the docs give the current annualised rate as 4%, or 0.000457% an hour in their example.
FAQ
Is single-asset mode the same as isolated margin?
The docs describe single-asset positions as isolated ("losses in one do not affect others") while also listing cross as the default margin mode. Check the mode shown on each position before relying on either reading.
How is a position liquidated?
When margin falls below maintenance; Aster's order-book liquidation, insurance fund and ADL are compared with other venues in liquidations compared.
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