PolyTerminal
How it works
All cross positions are measured together: the account's combined cross equity is compared with its combined cross maintenance margin. Isolated positions are checked separately. When the combined figure falls short, the exchange blocks new orders on every market of the account and closes cross positions one position at a time, checking margin again after each fill.
Why the liquidation price moves
A cross position's liquidation price is not tied to that position alone, because it depends on the rest of the cross account. A price move in another cross position, a change in size or a change in collateral can therefore shift the liquidation price of every cross position at once. Compare an isolated position, which has its own equity.
Availability
The instrument list carries an isolated-only flag for each market: when it is false, both cross and isolated margin modes are supported. On Oct 19, 2026 the flag was set on none of the 89 listed markets, although the Perps FAQ says some markets are isolated-only. To change the mode of a market, close the position and cancel all orders in that market. Polymarket's Perps FAQ says new positions in its web app start out isolated and that cross margin is opt-in through the API.
Sources and checks
Every rule quoted in this article comes from the registry below. Each row names the official page and the day it was compared with the text.
All 11 rules used in this article
| Rule | Value | Official source | Checked |
|---|---|---|---|
| What backs a cross position | the shared free collateral of the whole account | docs.polymarket.com/ | |
| Cross margin and unrealized profit and loss | unrealized profit and loss on one position can offset margin on another | docs.polymarket.com/ | |
| Cross liquidation scope | can unwind the whole cross account | docs.polymarket.com/ | |
| Cross liquidation blocks | blocks new orders on every market of the account | docs.polymarket.com/ | |
| Cross liquidation order | one position at a time | docs.polymarket.com/ | |
| Why a cross liquidation price can move | it depends on the rest of the cross account | docs.polymarket.com/ | |
| What the isolated_only flag means | when it is false, both cross and isolated margin modes are supported | docs.polymarket.com/ | |
| Markets with the isolated_only flag set | none | api.perpetuals.polymarket.com/ | |
| Perps markets in the public instrument list | 89 | api.perpetuals.polymarket.com/ | |
| What the Perps FAQ says about isolated-only markets | some markets are isolated-only | docs.polymarket.com/ | |
| Before you switch between isolated and cross margin | close the position and cancel all orders in that market | docs.polymarket.com/ |
Related terms
Read the full guide
Perps · 8 min
Polymarket Perps Margin and Leverage
How margin and leverage work on Polymarket Perps: initial and maintenance margin, leverage tiers, isolated and cross margin, with worked numbers.
Perps · 8 min
Polymarket Perps Liquidation Explained
How liquidation works on Polymarket Perps: the trigger, the insurance fund, auto-deleveraging, the extra fee and how to read your distance to liquidation.
PolyTerminal is an independent interface for Polymarket and is not operated or endorsed by Polymarket. Orders placed through PolyTerminal carry PolyTerminal’s Polymarket builder code, and PolyTerminal may charge a builder fee on top of Polymarket’s own fees. This page is educational and is not investment advice. Rules were compared with the official documentation on Oct 19, 2026; check the source before you act on a number.