Reading the OKX positions panel: margin ratio, liquidation price and the auto-deleveraging indicator
Opening a position takes a few taps; managing it is where most of the risk lies. On OKX, the positions panel below the chart shows a set of figures that change with every price move: unrealised profit and loss, margin, margin ratio, estimated liquidation price and a small indicator for auto-deleveraging. Many traders only look at the profit figure. The others tell you more about whether the position can survive the next move, and they are worth understanding before you need them.
Unrealised PnL, margin and the mark price
OKX calculates unrealised profit and loss and liquidation risk using the mark price, not the last traded price. The two are usually close, but in a sudden spike they can diverge, which is why your position may not be liquidated by a brief wick on the chart, or may be closer to liquidation than the last trade suggests. The margin figure shows what is committed to the position; in isolated mode that is the maximum you can lose on it, while cross margin draws on the wider account balance.
Margin ratio and liquidation price
The margin ratio compares your margin with what is needed to keep the position open. OKX's help center explains the formula and the level at which liquidation starts for your account mode; read the current article rather than relying on a number from elsewhere. The estimated liquidation price translates that into a price level. If your stop-loss is not clearly on the safe side of that price, the position can be closed by liquidation before your stop ever triggers.
The auto-deleveraging indicator
Next to positions you may see a small set of lights or bars for auto-deleveraging. In extreme conditions, when liquidations cannot be absorbed by the market or the insurance fund, the exchange may reduce profitable positions on the opposite side. The indicator shows your relative place in that queue. It rarely matters for small, conservatively sized positions, but if it is high while you hold a large profitable position, consider taking some profit rather than leaving everything exposed.
Act before the panel forces your hand
Set take-profit and stop-loss orders on the position itself and confirm they appear among open orders. Decide in advance whether you would ever add margin; adding it automatically to a losing trade turns a planned loss into a larger one. Check funding at the top of the contract page if you hold overnight, and review the trading fees for your tier on the OKX fee page, since both reduce the figure you see in the panel.
Risk boundary: OKX Italy Guide
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Scenario checkpoint
- Remember that OKX uses the mark price for unrealised PnL and liquidation, not the last trade.
- Read the current help article on margin ratio and the liquidation level for your account mode.
- Keep your stop-loss clearly on the safe side of the estimated liquidation price.
- Watch the auto-deleveraging indicator on large profitable positions and take partial profit if it is high.