PolyTerminal
How the rate is set
MaxLeverage is the highest leverage the market allows, so the rate is fixed for the whole market and ignores position size, tier and the leverage you pick. On a market whose maximum leverage is 20x, it is 2.5% for every position. Lowering your own leverage raises your initial margin and leaves the maintenance margin where it was, which widens the gap between opening a position and being liquidated.
At the maximum leverage, a position is liquidated only once the loss reaches roughly half of its posted margin.
Where it sits among the margin states
Every account sits in one of three margin states. With equity at or above the initial margin it trades normally. Between the maintenance margin and the initial margin it is in a margin call and can only reduce exposure or deposit collateral. Below the maintenance margin, liquidation begins.
A deposit during a margin call can restore healthy status at once.
The margin and leverage guide works through the tiers and both margin modes with more numbers.
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 6 rules used in this article
| Rule | Value | Official source | Checked |
|---|---|---|---|
| Maintenance margin rate | 0.5 / MaxLeverage | docs.polymarket.com/ | |
| How the maintenance margin rate is set | fixed for the whole market and ignores position size, tier and the leverage you pick | docs.polymarket.com/ | |
| Maintenance margin rate on a 20x market | 2.5% | docs.polymarket.com/ | |
| How far a maximum-leverage position can fall before liquidation | roughly half of its posted margin | docs.polymarket.com/ | |
| What an account in a margin call can do | can only reduce exposure or deposit collateral | docs.polymarket.com/ | |
| A deposit during a margin call | can restore healthy status at once | 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.