# Single-Asset Mode & Multi-Asset Mode

Aster Perps offers two collateral modes to support different trading strategies.

#### **Single-Asset Mode**

* **Collateral:** USDT only.
* **Margin allocation:** Managed separately for each position.
* **Risk management:** Each position is isolated — losses in one do not affect others.
* **PnL:** Calculated individually per position.

#### **Multi-Asset Mode**

* **Collateral:** Supports a variety of cryptocurrencies, including restaked tokens.
* **Margin allocation:** Shared across all open positions, enabling more capital-efficient trading.
* **Risk management:** Risk is evaluated across your entire portfolio, not position by position.
* **PnL:** Gains and losses are netted across all open positions.
* **Automatic balance management:** If the balance of a specific asset falls below a required threshold, the system automatically converts other assets in your wallet into the one needed (e.g., converting ETH to USDT). This is handled internally by the matching engine at no additional commission.
* **Efficient capital allocation:** Your margin is shared across positions, so you can use it more flexibly.
* **Profitable offset:** Gains from winning positions can offset losses from others in real time.
* **Simplified monitoring:** Your margin balance reflects net PnL, giving a clear view of your overall exposure.

### **Collateral Value Ratios**

Aster offers two collateral modes to support different trading strategies.

### **Single-Asset Mode**

* **Collateral:** USDT only.
* **Margin allocation:** Managed separately for each position.
* **Risk management:** Each position is isolated – losses in one do not affect others.
* **PnL:** Calculated individually per position.

### **Multi-Asset Mode**

* **Collateral:** Supports a variety of cryptocurrencies, including restaked tokens.
* **Margin allocation:** Shared across all open positions, enabling more capital-efficient trading.
* **Risk management:** Risk is evaluated across your entire portfolio, not position by position.
* **PnL:** Gains and losses are netted across all open positions.
* **Automatic balance management:** If the balance of a specific asset falls below a required threshold, the system automatically converts other assets in your wallet into the one needed (e.g., converting ETH to USDT). This is handled internally by the matching engine at no additional commission.

**Note:** Multi-Asset Mode operates in cross margin only.

#### **Key Benefits of Multi-Asset Mode**

* **Efficient capital allocation:** Your margin is shared across positions, so you can use it more flexibly.
* **Profitable offset:** Gains from winning positions can offset losses from others in real time.

**Simplified monitoring:** Your margin balance reflects net PnL, giving a clear view of your overall exposure.

### Interest rate

Starting **April 9, 2026 10:00 UTC**, interest rates will apply to negative balances under Multi-Asset Mode.

Under Multi-Asset Mode, users may carry a negative balance in assets such as **USDT and USD1**. A free threshold of **–1,000 USD** applies(**USDT \&USD1 will be calculated independently**): no interest is charged as long as your negative balance stays within it.

Once your negative balance exceeds –1,000 USD, interest accrues hourly on the portion beyond the threshold:

Interest fee (hourly) = Hourly rate × (|Negative balance| − 1,000)

For example: if your balance is –2,000 USDT at a rate of **0.000457%/hr**, the hourly charge is 0.000457% × (2,000 − 1,000) = 0.00457 USDT.

**Since interest affects your margin balance, please monitor your risk level closely.**

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### **Collateral Value Ratios**

Each supported asset has a collateral value ratio that determines how much of its value counts toward your usable margin. Assets with higher risk or volatility receive a larger discount.

Each supported asset has a collateral value ratio that determines how much of its value counts toward your usable margin. Assets with higher risk or volatility receive a larger discount.

**Aster Perps (BNB Chain):**

| Asset    | Collateral value ratio |
| -------- | ---------------------- |
| SlisBNB  | 90%                    |
| LisUSD   | 90%                    |
| BTC      | 95%                    |
| ETH      | 95%                    |
| USDT     | 99.99%                 |
| WBETH    | 90%                    |
| BNB      | 95%                    |
| Stone    | 90%                    |
| LISTA    | 10%                    |
| USD1     | 99%                    |
| USDF     | 99.99%                 |
| Cake     | 80%                    |
| asBNB    | 95%                    |
| BonusUSD | 99.99%                 |
| TWT      | 10%                    |
| ASTER    | 80%                    |

**Aster Perps (Ethereum)：**

| Asset   | Collateral value ratio |
| ------- | ---------------------- |
| BTC     | 95%                    |
| ETH     | 95%                    |
| USDT    | 99.99%                 |
| USD1    | 99%                    |
| PUMPBTC | 80%                    |
| RSETH   | 90%                    |
| USDC    | 99.99%                 |

**Aster Perps (Arbitrum)：**

| Asset  | Collateral value ratio |
| ------ | ---------------------- |
| USDT   | 99.99%                 |
| ETH    | 95%                    |
| USDC   | 99.99%                 |
| USDC.e | 99.99%                 |

**Aster Perps (Solana)：**

| Asset | Collateral value ratio |
| ----- | ---------------------- |
| USDT  | 99.99%                 |
| ETH   | 95%                    |
| USDC  | 99.99%                 |
| JLP   | 90%                    |
| SOL   | 90%                    |