user.portfolio.(currency)

The selected currency

The account's equity in the selected currency: balance + futures (session UPL + RPL) + options mark value (plus any external/implied equity). Related: margin_balance excludes options mark value under standard margin.

Minimum margin required to keep positions open. If margin_balance falls below maintenance margin, positions are liquidated. When cross collateral is enabled, this aggregated value is calculated by converting the sum of each cross collateral currency's value to the given currency, using each cross collateral currency's index.

Minimum margin required to open or increase positions (includes margin for open orders). If initial margin usage exceeds 100%, available_funds is 0. When cross collateral is enabled, this aggregated value is calculated by converting the sum of each cross collateral currency's value to the given currency, using each cross collateral currency's index.

Funds available to increase margin usage (open or enlarge positions). Equal to margin_balance - initial_margin, floored at 0 in the API response. When initial margin usage exceeds 100%, this is 0 and only reducing orders can be placed. When cross collateral is enabled, this aggregated value is calculated by converting the sum of each cross collateral currency's value to the given currency, using each cross collateral currency's index.

Funds available to withdraw in the selected currency. Typically lower than available_funds because withdrawals also exclude positive session profit, locked balance, spot_reserve, additional_reserve, and non-withdrawable external/implied equity components. Always ≥ 0.

Portion of the account balance that is locked and excluded from available withdrawal calculations.

The account's cash balance in the selected currency (deposits, withdrawals, transfers, option premiums, settlements/deliveries, corrections, costs, and insurance refills). Does not include open futures PnL or options mark value.

The account's fee balance (it can be used to pay for fees)

Collateral available against margin requirements. Under standard margin (SM): equity - options_value (cash balance plus futures session UPL and RPL). Under portfolio margin (PM): equal to equity. When cross collateral is enabled, this aggregated value is calculated by converting the sum of each cross collateral currency's value to the given currency, using each cross collateral currency's index.

Unrealized profit and loss on open positions in the current trading session (since the last daily settlement).

Realized profit and loss accrued in the current trading session (since the last daily settlement). Resets at each daily settlement.

Total profit and loss of all open positions since each position was opened (not limited to the current session). Differs from session_rpl + session_upl, which reset at daily settlement.

Combined profit and loss of all options positions included in total_pl.

Session realized profit and loss for options positions (resets at daily settlement).

Session unrealized profit and loss for open options positions.

Sum of the deltas of all options positions. For inverse (coin-margined) options this is the Black-Scholes delta; for linear options it is the index-price-adjusted delta. Unlike account-level delta_total, the options mark value is not subtracted.

Sum of options position gammas (Black-Scholes).

Sum of the thetas of all options positions. Theta is expressed per day; for options with less than one day left to expiry it is scaled down to the fraction of a day remaining.

Mark value of all open options positions in the selected currency. Under standard margin, margin_balance = equity - options_value.

Sum of options position vegas (Black-Scholes).

Combined profit and loss of all futures and perpetual positions included in total_pl (total_pl - options_pl).

Session realized profit and loss for futures and perpetual positions (resets at daily settlement).

Session unrealized profit and loss for open futures and perpetual positions.

The sum of position deltas.

DeltaTotal = Net Transaction Delta of options + BTC Position of Futures

The DeltaTotal uses the Net Transaction Delta (or price adjusted Delta) of the options, where Net Transaction Delta = Black Scholes Delta - Mark Price of Options.

This is because, from a risk perspective, we are interested in the change in Bitcoin price as the underlying changes.

You should actually treat your delta as Equity + Delta Total if you want to have less risk for your USD PnL.

⚠️ During the 30 minute settlement period we decay your Delta. See Delta decay during settlement for more details.

Map of position delta sums by price index (e.g. btc_usd), covering both futures and options positions. These are raw position deltas: they are not price-adjusted for linear instruments and the options mark value is not subtracted. They therefore do not add up to delta_total, which is calculated on the Net Transaction Delta basis described under delta_total.

Map of options' gammas per index

Map of options' thetas per index

Map of options' vegas per index

The sum of position deltas excluding positions that expire at the nearest expiration, so it shows the delta that will remain once those positions have expired. Calculated on the same Net Transaction Delta basis as delta_total, including delta decay during the settlement period.

When true portfolio margining is enabled for user

When true cross collateral is enabled for user

Name of user's currently enabled margin model

Optional (only for users using cross margin). The account's total equity in all cross collateral currencies, expressed in USD

Optional (only for users using cross margin). The account's total initial margin in all cross collateral currencies, expressed in USD

Optional (only for users using cross margin). The account's total maintenance margin in all cross collateral currencies, expressed in USD

Optional (only for users using cross margin). The account's total margin balance in all cross collateral currencies, expressed in USD

Optional (only for users using cross margin). The account's total delta total in all cross collateral currencies, expressed in USD

Initial margin calculated as if instruments expiring at the nearest expiration were excluded, so it shows the requirement that will remain once those instruments have expired. When cross collateral is enabled, this aggregated value is calculated by converting the sum of each cross collateral currency's value to the given currency, using each cross collateral currency's index.

Maintenance margin calculated as if instruments expiring at the nearest expiration were excluded, so it shows the requirement that will remain once those instruments have expired. When cross collateral is enabled, this aggregated value is calculated by converting the sum of each cross collateral currency's value to the given currency, using each cross collateral currency's index.

Close-out margin threshold in the selected currency, equal to 50% of maintenance_margin. Because it sits below maintenance_margin, it marks a later and more severe stage than ordinary liquidation: when margin_balance falls to or below this level, close-out liquidation takes over. Returned only when close-out margin is enabled on the platform.

Close-out margin calculated as if instruments expiring at the nearest expiration were excluded, i.e. 50% of projected_maintenance_margin. Returned only when close-out margin is enabled on the platform.

The account's balance reserved for open buy option orders and option combo orders (the premium payable if they fill). Only non-zero on the cross_sm margin model; balance reserved by spot orders is reported separately in spot_reserve.