> For the complete documentation index, see [llms.txt](https://hashhedge.gitbook.io/hashhedge-user-guide/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://hashhedge.gitbook.io/hashhedge-user-guide/trading-terminal/margin-mode.md).

# Margin mode: Isolated and Cross

Hash Hedge offers two margin modes.

Pick the one that matches how you want to manage risk.

***

{% tabs %}
{% tab title="Isolated margin" %}
Each position has its **own separate margin**. The risk of a trade is confined to the margin assigned to that position, which limits how much a single trade can lose.
{% endtab %}

{% tab title="Cross margin" %}
Margin is **shared across all open positions** in your account. This can help prevent liquidation when one position is losing, but it also means all positions are exposed if your overall margin level drops too low.
{% endtab %}
{% endtabs %}

## At a glance

| What changes   | Isolated                      | Cross                                   |
| -------------- | ----------------------------- | --------------------------------------- |
| Margin         | Separate per position         | Shared across all positions             |
| A losing trade | Can lose only its own margin  | Can draw on your whole balance          |
| Liquidation    | Per position                  | Based on total account margin           |
| Best for       | Capping the loss on one trade | Avoiding liquidation with spare balance |

## How to switch

{% stepper %}
{% step %}
Go to the **Trade** screen.
{% endstep %}

{% step %}
On the right side, click the margin button (it shows your current mode, e.g. **Isolated**).
{% endstep %}

{% step %}
Choose **Isolated** or **Cross**.
{% endstep %}

{% step %}
Click **Ok**.
{% endstep %}
{% endstepper %}

<figure><img src="/files/tS2wKHorQkEMJIUMrZ4q" alt=""><figcaption><p>The margin mode and leverage buttons on the Trade screen</p></figcaption></figure>

<figure><img src="/files/JYqPhveGGkKEjZkqI9np" alt=""><figcaption><p>Switching between Cross and Isolated</p></figcaption></figure>

***

## Rules to know

* **You can't use both modes at once.** If a position is open in one mode, new orders can't be opened in the other. To switch modes, first **close all positions and cancel all pending orders**.
* **In Cross margin**, the P\&L of long and short positions is netted, which affects your overall liquidation price.
* **In Isolated margin**, each position has its own P\&L and its own liquidation conditions.


---

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