What is Multi-Assets Mode?

Phemex futures trading offers two margin modes: Single-Asset Mode and Multi-Assets Mode. Currently, Multi-Assets Mode supports only USDT-margined futures (support for USDC-margined and inverse futures may be added in the future — please refer to official announcements for updates).

In Single-Asset Mode, traders can use only USDT as margin to trade USDT futures. However, under Multi-Assets Mode, traders can use multiple supported cryptocurrencies as collateral for USDT-margined futures. Margin balances are shared across all USDT cross-margined futures, allowing profits from one position to offset losses from another.

Important Notes:

Multi-Assets Mode supports Cross Margin only.
You must transfer funds to your futures account before they can be used as margin.
In Multi-Assets Mode, the value of assets such as BTC or ETH used as collateral is discounted. For example, BTC valued at $1,000 may only count as $990 in margin value. For detailed discount rates, please refer to:
👉 Risk Management Rules for Multi-Assets Mode

How to Use Multi-Assets Mode

Phemex allows users to seamlessly switch between Single-Asset Mode and Multi-Assets Mode.

Switching from Single-Asset Mode to Multi-Assets Mode:

The system will check that you don’t have any active USDT orders or open USDT positions.
If all conditions are met, the system will automatically switch all USDT futures (excluding Innovation Zone futures) to Cross Margin Mode.

Switching from Multi-Assets Mode to Single-Asset Mode:

The system will check that:
- You do not have any active USDT orders or positions.
- There are no outstanding debts in any asset under your futures account.

Only when both conditions are met will the system allow the switch.

How to Switch Modes on Web:

Log in to your Phemex account, navigate to any USDT futures trading page (e.g., BTC/USDT), and locate the margin mode switch at the top of the interface.
Choose either Single-Asset Mode or Multi-Assets Mode, then click to switch.

How to Switch Modes on App:

Open the Phemex App, tap futures → USDT futures, then tap the [S] button.
Choose either Single-Asset Mode or Multi-Assets Mode, and confirm the switch.