# Margin requirements

At any moment, users have to maintain an equity balance in the portfolio that is bigger than the total maintenance margin (CVA) of their opened positions.

### Account Value 

User account value is the sum of the value inside a user's portfolio: 

$$
Account\ value\ =  $HONEY\ in\ portfolio + unrealised\ PNL
$$

### User Maintenance Margin (CVA)

The CVA is the amount required to be held by a user to keep the position open, where if the users account value falls below the total acount CVA, the users are liquidatable and will lose the entire account assets.

### Available for Trading

In order to understand how much is left in your account to trade, you'll find it under {Available for Trading} section: 

$$
Available\ for\ Trading = Account\ value\ - Locked\ Margin - Maintenance\ Margin
$$

### Account health

You can identify the risk of your account by monitoring the account health factor. 

* 100% mirrors zero risk
* 0% is liquidatable state

The closer the account health approach 0%, the highest the risk of getting liquidated.

<figure><img src="/files/ylbMPMZx5JyrZpbdMIPD" alt=""><figcaption></figcaption></figure>

### Cross Margin Trading

Trading on Levo uses cross margin and so positions can be used against one another. This means that your portfolio serves as collateral against your positions. This helps to improve the capital efficiency of your trading experience on Levo.

### The main benefits of this are:

* Improved capital efficiency&#x20;
* Reduced margin requirements&#x20;
* Position offsetting


---

# Agent Instructions: Querying This Documentation

If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question.

Perform an HTTP GET request on the current page URL with the `ask` query parameter:

```
GET https://documentation.ivx.fi/levo-intent-based-perp-market/margin-requirements.md?ask=<question>
```

The question should be specific, self-contained, and written in natural language.
The response will contain a direct answer to the question and relevant excerpts and sources from the documentation.

Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.