> For the complete documentation index, see [llms.txt](https://docs.extended.exchange/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.extended.exchange/extended-resources/trading/rwa-markets/margin-schedule.md).

# Margin Schedule

Each RWA market has a custom margin schedule, detailed below. Value brackets may be adjusted over time, depending on available liquidity or changes in asset price.

**EUR**

| Position Bracket | Max Leverage | Min Initial Margin | Maintenance Margin |
| ---------------- | ------------ | ------------------ | ------------------ |
| $ 0 - 2000 k     | 100.0        | 1%                 | 0.5%               |
| $ 2000 - 4000 k  | 50.0         | 2%                 | 1.0%               |
| $ 4000 - 6000 k  | 33.3         | 3%                 | 1.5%               |
| $ 6000 - 8000 k  | 25.0         | 4%                 | 2.0%               |
| $ 8000 - 10000 k | 20.0         | 5%                 | 2.5%               |

*If a user's position exceeds the last margin tier, initial and maintenance margin requirements will increase by 1% and 0.5% respectively for every additional $2000k.*

**USDJPY**

| Position Bracket | Max Leverage | Min Initial Margin | Maintenance Margin |
| ---------------- | ------------ | ------------------ | ------------------ |
| $ 0 - 2000 k     | 25.0         | 4%                 | 2%                 |

*If a user's position exceeds the last margin tier, initial and maintenance margin requirements will increase by 4% and 2% respectively for every additional $2000k.*

**SPX (S\&P 500)**

| Position Bracket | Max Leverage | Min Initial Margin | Maintenance Margin |
| ---------------- | ------------ | ------------------ | ------------------ |
| $ 0 - 1000 k     | 25.0         | 4%                 | 2%                 |
| $ 1000 - 2000 k  | 12.5         | 8%                 | 4%                 |
| $ 2000 - 3000 k  | 8.3          | 12%                | 6%                 |

*If a user's position exceeds the last margin tier, initial and maintenance margin requirements will increase by 4% and 2% respectively for every additional $1000k.*

**NDX (Nasdaq-100)**

| Position Bracket | Max Leverage | Min Initial Margin | Maintenance Margin |
| ---------------- | ------------ | ------------------ | ------------------ |
| $ 0 - 1000 k     | 16.7         | 6%                 | 3%                 |
| $ 1000 - 2000 k  | 8.3          | 12%                | 6%                 |
| $ 2000 - 3000 k  | 5.6          | 18%                | 9%                 |

*If a user's position exceeds the last margin tier, initial and maintenance margin requirements will increase by 6% and 3% respectively for every additional $1000k.*

**XAU (Gold)**

| Position Bracket | Max Leverage | Min Initial Margin | Maintenance Margin |
| ---------------- | ------------ | ------------------ | ------------------ |
| $ 0 - 2000 k     | 25.0         | 4%                 | 2%                 |
| $ 2000 - 4000 k  | 12.5         | 8%                 | 4%                 |
| $ 4000 - 6000 k  | 8.3          | 12%                | 6%                 |

*If a user's position exceeds the last margin tier, initial and maintenance margin requirements will increase by 4% and 2% respectively for every additional $2000k.*

**XAG (Silver)**

| Position Bracket | Max Leverage | Min Initial Margin | Maintenance Margin |
| ---------------- | ------------ | ------------------ | ------------------ |
| $ 0 - 1000 k     | 10.0         | 10%                | 5%                 |
| $ 1000 - 2000 k  | 5.0          | 20%                | 10%                |
| $ 2000 - 3000 k  | 3.3          | 30%                | 15%                |

*If a user's position exceeds the last margin tier, initial and maintenance margin requirements will increase by 10% and 5% respectively for every additional $1000k.*

**XCU (Copper)**

| Position Bracket | Max Leverage | Min Initial Margin | Maintenance Margin |
| ---------------- | ------------ | ------------------ | ------------------ |
| $ 0 - 500 k      | 20.0         | 5%                 | 2.5%               |
| $ 500 - 1000 k   | 10.0         | 10%                | 5%                 |

*If a user's position exceeds the last margin tier, initial and maintenance margin requirements will increase by 5% and 2.5% respectively for every additional $500k.*

**XPT (Platinum), XBR and WTI**

| Position Bracket | Max Leverage | Min Initial Margin | Maintenance Margin |
| ---------------- | ------------ | ------------------ | ------------------ |
| $ 0 - 1000 k     | 10.0         | 10%                | 5%                 |

*If a user's position exceeds the last margin tier, initial and maintenance margin requirements will increase by 10% and 5% respectively for every additional $1000k.*

**NATGAS**

| Position Bracket | Max Leverage | Min Initial Margin | Maintenance Margin |
| ---------------- | ------------ | ------------------ | ------------------ |
| $ 0 - 1000 k     | 5.0          | 20%                | 10%                |

*If a user's position exceeds the last margin tier, initial and maintenance margin requirements will increase by 20% and 10% respectively for every additional $1000k.*

**GOOG, META, MSFT**

| Position Bracket | Max Leverage | Min Initial Margin | Maintenance Margin |
| ---------------- | ------------ | ------------------ | ------------------ |
| $ 0 - 500 k      | 16.7         | 6%                 | 3%                 |
| $ 500 - 1000 k   | 8.3          | 12%                | 6%                 |

*If a user's position exceeds the last margin tier, initial and maintenance margin requirements will increase by 6% and 3% respectively for every additional $500k.*

**NVDA, AMZN, TSLA, AMD, MSTR, COIN, HOOD, INTC, PLTR, AAPL, CRCL, MU, SNDK, BABA, EWY**

| Position Bracket | Max Leverage | Min Initial Margin | Maintenance Margin |
| ---------------- | ------------ | ------------------ | ------------------ |
| $ 0 - 500 k      | 10.0         | 10%                | 5%                 |
| $ 500 - 1000 k   | 5.0          | 20%                | 10%                |

*If a user's position exceeds the last margin tier, initial and maintenance margin requirements will increase by 10% and 5% respectively for every additional $500k.*

**SPCX**

| Position Bracket | Max Leverage | Min Initial Margin | Maintenance Margin |
| ---------------- | ------------ | ------------------ | ------------------ |
| $ 0 - 100 k      | 3.0          | 33.3%              | 16.7%              |

*If a user's position exceeds the last margin tier, initial and maintenance margin requirements will increase by 33.3% and 16.7% respectively for every additional $100k.*