cdcx-isolated-margin

Isolated Margin

When to Use

Some instruments — notably equity/RWA perpetuals such as SPYUSD-PERP and NVDAUSD-PERP — cannot be traded on the default cross-margin account. Attempting to do so returns:

{
  "code": 623,
  "message": "INSTRUMENT_MUST_USE_ISOLATED_MARGIN"
}

Isolated margin puts the position in its own margin bucket with its own leverage. Losses are capped at the isolated balance; a wipeout on one position cannot cascade into cross-margin balances on other instruments.

Use isolated margin when:

• The exchange requires it (error 623).
• You want per-position risk isolation (e.g. high-leverage directional bet).
• You want a distinct leverage setting on one instrument without changing your cross-account config.

Do not use isolated margin for:

• Spot pairs (CCY_PAIR) — not applicable.
• Crypto perpetuals where you want shared collateral across positions.

One Position Per Instrument

The exchange enforces one isolated position per instrument per account. You cannot open two separate isolated buckets on SPYUSD-PERP — the second order must reference the first position's isolation_id so the exchange knows whether you're adding to, trimming, or reversing it.

To top up or trim an open isolated position:

1. Look up its isolation_id via cdcx account positions -o json (or the user.positions WS channel).
2. Include --isolation-id <ID> on the next cdcx trade order call.

Omitting --isolation-id on a second order returns:

{
  "code": 617,
  "message": "DUPLICATED_INSTRUMENT_ORDER_FOR_ISOLATED_MARGIN"
}

TUI Workflow

Open the place-order modal (t on the Market tab) and use the Margin row:

Inst:   SPYUSD-PERP
Side:   [BUY]   SELL
Type:   [LIMIT] MARKET
Margin: [ISOLATED]  CROSS    (M to toggle)
Price:  710.25
Qty:    0.001

• ←/→ or Space while on the Margin row, or M from anywhere in the modal (except free-text fields), flips ISOLATED ↔ CROSS.
• Isolated margin is pre-selected automatically for instruments whose inst_type requires it (e.g. equity perpetuals).
• On success, the toast reads Order placed (isolated margin) so the mode is unambiguous.
• The TUI subscribes to user.positions at startup (when authenticated) so isolation_id for any open isolated position is cached and auto-attached to your next order on the same instrument. You do not need to supply it manually in the TUI.