{"id":15819,"date":"2026-11-02T16:20:42","date_gmt":"2026-11-02T16:20:42","guid":{"rendered":"https:\/\/bjftradinggroup.com\/?p=15819"},"modified":"2026-11-02T16:24:23","modified_gmt":"2026-11-02T16:24:23","slug":"cross-vs-isolated-margin-sharptrader","status":"publish","type":"post","link":"https:\/\/bjftradinggroup.com\/vi\/cross-vs-isolated-margin-sharptrader\/","title":{"rendered":"Cross v\u00e0 Isolated Margin trong SharpTrader: C\u00e1ch thi\u1ebft l\u1eadp tr\u01b0\u1eddng Margin cho OKX, HTX, Binance v\u00e0 Bybit"},"content":{"rendered":"

<\/p>\n

\n
BJF TRADING GROUP \u00b7 SHARPTRADER CRYPTO<\/span><\/p>\n

Cross v\u00e0 Isolated Margin trong SharpTrader: Thi\u1ebft l\u1eadp tr\u01b0\u1eddng Margin cho OKX, HTX, Binance v\u00e0 Bybit<\/span><\/h2>\n

M\u1ed9t con s\u1ed1 nh\u1ecf trong tab Settings quy\u1ebft \u0111\u1ecbnh l\u1ec7nh \u0111\u01b0\u1ee3c g\u1eedi t\u1edbi t\u00e0i kho\u1ea3n spot, t\u00e0i kho\u1ea3n cross margin hay t\u00e0i kho\u1ea3n isolated margin. \u0110\u1eb7t \u0111\u00fang, c\u1eb7p s\u1ebd \u0111\u01b0\u1ee3c m\u1edf tr\u00ean c\u1ea3 hai s\u00e0n. \u0110\u1eb7t sai, OKX t\u1eeb ch\u1ed1i l\u1ec7nh v\u1edbi l\u1ed7i 51000, ho\u1eb7c ch\u00e2n l\u1ebd ra ph\u1ea3i short s\u1ebd kh\u00f4ng bao gi\u1edd \u0111\u01b0\u1ee3c m\u1edf. H\u01b0\u1edbng d\u1eabn n\u00e0y cung c\u1ea5p gi\u00e1 tr\u1ecb ch\u00ednh x\u00e1c cho t\u1eebng s\u00e0n \u0111\u01b0\u1ee3c h\u1ed7 tr\u1ee3, gi\u1ea3i th\u00edch cross v\u00e0 isolated margin th\u1ef1c s\u1ef1 thay \u0111\u1ed5i \u0111i\u1ec1u g\u00ec \u0111\u1ed1i v\u1edbi m\u1ed9t c\u1eb7p \u0111\u01b0\u1ee3c hedge, v\u00e0 cho th\u1ea5y m\u1ed9t giao d\u1ecbch trung l\u1eadp th\u1ecb tr\u01b0\u1eddng c\u00f3 th\u1ec3 d\u00f9ng \u0111\u00f2n b\u1ea9y bao nhi\u00eau m\u1ed9t c\u00e1ch an to\u00e0n.<\/p>\n<\/div>\n

Trong h\u01b0\u1edbng d\u1eabn n\u00e0y<\/strong><\/p>\n
    \n
  1. Tr\u01b0\u1eddng Margin l\u00e0m g\u00ec (v\u00e0 kh\u00f4ng l\u00e0m g\u00ec)<\/a><\/li>\n
  2. Gi\u00e1 tr\u1ecb theo t\u1eebng s\u00e0n<\/a><\/li>\n
  3. C\u00e1c thi\u1ebft l\u1eadp ph\u1ed5 bi\u1ebfn v\u00e0 v\u00ed d\u1ee5 minh h\u1ecda<\/a><\/li>\n
  4. Gi\u1ea3i th\u00edch spot, cross margin v\u00e0 isolated margin<\/a><\/li>\n
  5. M\u1ed9t c\u1eb7p \u0111\u01b0\u1ee3c hedge c\u00f3 th\u1ec3 d\u00f9ng \u0111\u00f2n b\u1ea9y bao nhi\u00eau<\/a><\/li>\n
  6. T\u1eebng b\u01b0\u1edbc: c\u1ea5u h\u00ecnh m\u1ed9t c\u1eb7p m\u1edbi<\/a><\/li>\n
  7. N\u1ebfu gi\u00e1 tr\u1ecb sai: l\u1ed7i v\u00e0 c\u00e1ch kh\u1eafc ph\u1ee5c<\/a><\/li>\n
  8. M\u1ed9t ph\u00eda, m\u1ed9t lo\u1ea1i c\u00f4ng c\u1ee5<\/a><\/li>\n
  9. FAQ<\/a><\/li>\n<\/ol>\n<\/div>\n

    Tr\u01b0\u1eddng Margin l\u00e0m g\u00ec (v\u00e0 kh\u00f4ng l\u00e0m g\u00ec)<\/h2>\n

    Tr\u1ea3 l\u1eddi ng\u1eafn g\u1ecdn:<\/strong> tr\u01b0\u1eddng Margin cho s\u00e0n bi\u1ebft l\u1ec7nh thu\u1ed9c v\u1ec1 t\u00e0i kho\u1ea3n n\u00e0o: spot (0), cross margin (1) ho\u1eb7c isolated margin (2). Gi\u00e1 tr\u1ecb n\u00e0y \u0111\u01b0\u1ee3c \u0111\u1eb7t m\u1ed9t l\u1ea7n cho m\u1ed7i ph\u00eda, trong tab Settings c\u1ee7a chi\u1ebfn l\u01b0\u1ee3c, ngay d\u01b0\u1edbi Signal TTL. N\u00f3 kh\u00f4ng thi\u1ebft l\u1eadp \u0111\u00f2n b\u1ea9y. Tr\u00ean Binance, OKX, Bybit v\u00e0 HTX, h\u1ec7 s\u1ed1 \u0111\u00f2n b\u1ea9y v\u1eabn gi\u1eef nguy\u00ean nh\u01b0 b\u1ea1n \u0111\u00e3 c\u1ea5u h\u00ecnh cho c\u00f4ng c\u1ee5 \u0111\u00f3 trong t\u00e0i kho\u1ea3n s\u00e0n c\u1ee7a b\u1ea1n.<\/p>\n

    C\u00e1c chi\u1ebfn l\u01b0\u1ee3c pair trading v\u00e0 hedge trong SharpTrader giao d\u1ecbch hai ch\u00e2n c\u00f9ng l\u00fac: Side 1 v\u00e0 Side 2. M\u1ed7i ph\u00eda l\u00e0 m\u1ed9t k\u1ebft n\u1ed1i s\u00e0n, v\u00e0 m\u1ed7i ph\u00eda c\u00f3 gi\u00e1 tr\u1ecb Margin ri\u00eang. Trong chi\u1ebfn l\u01b0\u1ee3c PairTradingPost, b\u1ea1n t\u00ecm th\u1ea5y n\u00f3 trong tab Settings d\u01b0\u1edbi Signal TTL. C\u00e1c chi\u1ebfn l\u01b0\u1ee3c Hedge v\u00e0 HedgePost d\u00f9ng c\u00f9ng c\u00e1c gi\u00e1 tr\u1ecb n\u00e0y trong ph\u1ea7n c\u00e0i \u0111\u1eb7t c\u1eb7p, \u1edf c\u00e1c tr\u01b0\u1eddng Open leverage<\/strong> v\u00e0 Close leverage<\/strong>, v\u00ec c\u1ea3 hai \u0111\u1ec1u \u0111\u01b0\u1ee3c ghi v\u00e0o c\u00f9ng m\u1ed9t tr\u01b0\u1eddng c\u1ee7a l\u1ec7nh.<\/p>\n

    Tr\u01b0\u1eddng n\u00e0y kh\u00f4ng thi\u1ebft l\u1eadp \u0111\u00f2n b\u1ea9y c\u1ee7a b\u1ea1n.<\/strong> Tr\u00ean Binance, OKX, Bybit v\u00e0 HTX, con s\u1ed1 n\u00e0y ch\u1ec9 ch\u1ecdn ch\u1ebf \u0111\u1ed9 margin. Vi\u1ec7c m\u1ed9t v\u1ecb th\u1ebf perpetual ch\u1ea1y \u1edf 2x hay 20x \u0111\u01b0\u1ee3c quy\u1ebft \u0111\u1ecbnh b\u1edfi \u0111\u00f2n b\u1ea9y b\u1ea1n \u0111\u1eb7t cho c\u00f4ng c\u1ee5 \u0111\u00f3 trong giao di\u1ec7n s\u00e0n. Nh\u1eadp 2 ho\u1eb7c 10 v\u00e0o tr\u01b0\u1eddng Margin kh\u00f4ng thay \u0111\u1ed5i \u0111i\u1ec1u \u0111\u00f3, v\u00e0 tr\u00ean OKX gi\u00e1 tr\u1ecb 2 c\u00f3 ngh\u0129a l\u00e0 isolated margin<\/em>, kh\u00f4ng ph\u1ea3i 2x.<\/div>\n

    \u0110i\u1ec1u n\u00e0y quan tr\u1ecdng v\u00ec t\u00ean tr\u01b0\u1eddng d\u1ec5 g\u00e2y hi\u1ec3u nh\u1ea7m. Nh\u1eefng trader \u0111\u1ebfn t\u1eeb c\u00e1c n\u1ec1n t\u1ea3ng n\u01a1i \u00f4 “margin” ho\u1eb7c “leverage” \u0111\u1eb7t h\u1ec7 s\u1ed1 nh\u00e2n th\u01b0\u1eddng nh\u1eadp m\u1ee9c \u0111\u00f2n b\u1ea9y h\u1ecd mu\u1ed1n. Tr\u00ean m\u1ed9t c\u1eb7p spot, \u0111i\u1ec1u \u0111\u00f3 bi\u1ebfn l\u1ec7nh spot th\u00f4ng th\u01b0\u1eddng th\u00e0nh l\u1ec7nh margin; tr\u00ean perpetual c\u1ee7a OKX, gi\u00e1 tr\u1ecb 0 g\u1eedi l\u1ec7nh t\u1edbi t\u00e0i kho\u1ea3n spot, n\u01a1i perpetual kh\u00f4ng th\u1ec3 giao d\u1ecbch.<\/p>\n

    Gi\u00e1 tr\u1ecb theo t\u1eebng s\u00e0n<\/h2>\n

    B\u1ea3ng li\u1ec7t k\u00ea m\u1ecdi phi\u00ean s\u00e0n m\u00e0 tr\u01b0\u1eddng n\u00e0y c\u00f3 t\u00e1c d\u1ee5ng. \u1ede nh\u1eefng n\u01a1i kh\u00f4ng c\u00f3 t\u00e1c d\u1ee5ng, h\u00e3y \u0111\u1ec3 gi\u00e1 tr\u1ecb 0.<\/p>\n

    \n\n\n\n\n\n\n\n\n\n\n\n\n\n
    Phi\u00ean<\/th>\nGi\u00e1 tr\u1ecb<\/th>\nK\u1ebft qu\u1ea3<\/th>\n<\/tr>\n<\/thead>\n
    OKX<\/strong>
    \nUSDT perpetual v\u00e0 spot<\/td>\n    		0<\/code><\/td>\nCh\u1ec9 spot. T\u1eeb ch\u1ed1i perpetual<\/span><\/td>\n<\/tr>\n
    1<\/code><\/td>\nCross margin. D\u00f9ng gi\u00e1 tr\u1ecb n\u00e0y cho perpetual.<\/td>\n<\/tr>\n
    2<\/code><\/td>\nIsolated margin. C\u0169ng h\u1ee3p l\u1ec7 cho perpetual.<\/td>\n<\/tr>\n
    HTX spot<\/strong><\/td>\n0<\/code><\/td>\nT\u00e0i kho\u1ea3n spot th\u00f4ng th\u01b0\u1eddng. Kh\u00f4ng vay.<\/td>\n<\/tr>\n
    1<\/code><\/td>\nT\u00e0i kho\u1ea3n cross margin.<\/td>\n<\/tr>\n
    2<\/code><\/td>\nT\u00e0i kho\u1ea3n isolated margin.<\/td>\n<\/tr>\n
    HTX USDT futures<\/strong><\/td>\n\u2014<\/td>\nKh\u00f4ng c\u00f3 t\u00e1c d\u1ee5ng<\/span> L\u1ec7nh lu\u00f4n \u0111i theo cross margin, v\u1edbi \u0111\u00f2n b\u1ea9y \u0111\u01b0\u1ee3c \u0111\u1eb7t trong t\u00e0i kho\u1ea3n HTX c\u1ee7a b\u1ea1n.<\/td>\n<\/tr>\n
    Binance USDT futures<\/strong><\/td>\n\u2014<\/td>\nKh\u00f4ng c\u00f3 t\u00e1c d\u1ee5ng<\/span> Ch\u1ebf \u0111\u1ed9 margin v\u00e0 \u0111\u00f2n b\u1ea9y l\u1ea5y t\u1eeb c\u00e0i \u0111\u1eb7t t\u00e0i kho\u1ea3n Binance c\u1ee7a b\u1ea1n.<\/td>\n<\/tr>\n
    Bybit USDT futures<\/strong><\/td>\n\u2014<\/td>\nKh\u00f4ng c\u00f3 t\u00e1c d\u1ee5ng<\/span> Ch\u1ebf \u0111\u1ed9 margin v\u00e0 \u0111\u00f2n b\u1ea9y l\u1ea5y t\u1eeb c\u00e0i \u0111\u1eb7t t\u00e0i kho\u1ea3n Bybit c\u1ee7a b\u1ea1n.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

    OKX l\u00e0 s\u00e0n m\u00e0 gi\u00e1 tr\u1ecb n\u00e0y mang t\u00ednh quy\u1ebft \u0111\u1ecbnh, v\u00ec OKX y\u00eau c\u1ea7u m\u1ecdi l\u1ec7nh ph\u1ea3i n\u00eau ch\u1ebf \u0111\u1ed9 giao d\u1ecbch: l\u1ec7nh cash (spot), l\u1ec7nh cross margin ho\u1eb7c l\u1ec7nh isolated margin. HTX spot d\u00f9ng gi\u00e1 tr\u1ecb n\u00e0y \u0111\u1ec3 ch\u1ecdn gi\u1eefa c\u00e1c t\u00e0i kho\u1ea3n spot, cross margin v\u00e0 isolated margin ri\u00eang bi\u1ec7t. Tr\u00ean ba phi\u00ean futures, s\u00e0n t\u1ef1 quy\u1ebft \u0111\u1ecbnh d\u1ef1a tr\u00ean c\u00e0i \u0111\u1eb7t t\u00e0i kho\u1ea3n c\u1ee7a b\u1ea1n, v\u00ec v\u1eady tr\u01b0\u1eddng n\u00e0y b\u1ecb b\u1ecf qua.<\/p>\n

    \"S\u01a1
    Nh\u1eadp gi\u00e1 tr\u1ecb n\u00e0o: b\u1eaft \u0111\u1ea7u t\u1eeb s\u00e0n v\u00e0 lo\u1ea1i c\u00f4ng c\u1ee5 c\u1ee7a m\u1ed7i ph\u00eda. Tr\u00ean ba phi\u00ean futures, tr\u01b0\u1eddng n\u00e0y b\u1ecb b\u1ecf qua; \u0111\u00f2n b\u1ea9y v\u00e0 ch\u1ebf \u0111\u1ed9 margin n\u1eb1m trong t\u00e0i kho\u1ea3n s\u00e0n.<\/figcaption><\/figure>\n

    C\u00e1c thi\u1ebft l\u1eadp ph\u1ed5 bi\u1ebfn v\u00e0 v\u00ed d\u1ee5 minh h\u1ecda<\/h2>\n
    \n
    1<\/span>OKX perpetual<\/span>Cross margin. D\u00f9ng 2 n\u1ebfu b\u1ea1n mu\u1ed1n k\u00fd qu\u1ef9 v\u1ecb th\u1ebf m\u1ed9t c\u00e1ch t\u00e1ch bi\u1ec7t.<\/span><\/div>\n
    0<\/span>OKX spot<\/span>B\u1ea5t k\u1ef3 gi\u00e1 tr\u1ecb n\u00e0o kh\u00e1c s\u1ebd bi\u1ebfn l\u1ec7nh th\u00e0nh l\u1ec7nh margin.<\/span><\/div>\n
    0<\/span>HTX spot, kh\u00f4ng \u0111\u00f2n b\u1ea9y<\/span>Giao d\u1ecbch t\u1eeb s\u1ed1 d\u01b0 spot th\u00f4ng th\u01b0\u1eddng c\u1ee7a b\u1ea1n.<\/span><\/div>\n
    0<\/span>Binance, Bybit, HTX futures<\/span>Gi\u00e1 tr\u1ecb kh\u00f4ng \u0111\u01b0\u1ee3c d\u00f9ng. \u0110\u1eb7t \u0111\u00f2n b\u1ea9y tr\u00ean s\u00e0n.<\/span><\/div>\n<\/div>\n

    V\u00ed d\u1ee5:<\/strong> HTX spot \u1edf Side 1 \u0111\u1ed1i \u1ee9ng v\u1edbi OKX perpetual \u1edf Side 2. \u0110\u1eb7t Side 1 Margin = 0<\/strong> v\u00e0 Side 2 Margin = 1<\/strong>.<\/p>\n

    H\u00e3y theo d\u00f5i c\u1eb7p n\u00e0y b\u1eb1ng con s\u1ed1 c\u1ee5 th\u1ec3. B\u1ea1n mu\u1ed1n m\u1ee9c ph\u01a1i nhi\u1ec5m 10,000 USDT tr\u00ean m\u1ed7i ch\u00e2n: long \u0111\u1ed3ng coin tr\u00ean HTX spot, short c\u00f9ng s\u1ed1 l\u01b0\u1ee3ng tr\u00ean h\u1ee3p \u0111\u1ed3ng USDT perpetual c\u1ee7a \u0111\u1ed3ng coin \u0111\u00f3 tr\u00ean OKX, v\u1edbi \u0111\u00f2n b\u1ea9y 3x \u0111\u01b0\u1ee3c \u0111\u1eb7t cho perpetual \u0111\u00f3 trong t\u00e0i kho\u1ea3n OKX c\u1ee7a b\u1ea1n.<\/p>\n

    \n\n\n\n\n\n\n
    Ch\u00e2n<\/th>\nGi\u00e1 tr\u1ecb Margin<\/th>\nM\u1ee9c ph\u01a1i nhi\u1ec5m<\/th>\nV\u1ed1n b\u1ecb kh\u00f3a<\/th>\nC\u00f3 th\u1ec3 b\u1ecb thanh l\u00fd kh\u00f4ng?<\/th>\n<\/tr>\n<\/thead>\n
    Side 1: HTX spot, long<\/td>\n0<\/code><\/td>\n10,000 USDT<\/td>\n10,000 USDT (to\u00e0n b\u1ed9 gi\u00e1 tr\u1ecb, kh\u00f4ng vay)<\/td>\nKh\u00f4ng. B\u1ea1n s\u1edf h\u1eefu s\u1ed1 coin \u0111\u00f3.<\/td>\n<\/tr>\n
    Side 2: OKX perpetual, short<\/td>\n1<\/code><\/td>\n10,000 USDT<\/td>\nkho\u1ea3ng 3,333 USDT initial margin \u1edf 3x<\/td>\nC\u00f3, n\u1ebfu gi\u00e1 t\u0103ng \u0111\u1ee7 xa v\u00e0 t\u00e0i kho\u1ea3n h\u1ebft margin<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

    C\u1eb7p n\u00e0y trung l\u1eadp v\u1ec1 gi\u00e1, nh\u01b0ng v\u1ed1n th\u00ec kh\u00f4ng \u0111\u1ed1i x\u1ee9ng. Ch\u00e2n spot \u0111\u01b0\u1ee3c thanh to\u00e1n \u0111\u1ea7y \u0111\u1ee7; ch\u00e2n perpetual \u0111i vay. N\u1ebfu \u0111\u1ed3ng coin t\u0103ng 25%, ch\u00e2n spot tr\u00ean HTX l\u00e3i kho\u1ea3ng 2,500 USDT v\u00e0 l\u1ec7nh short tr\u00ean OKX l\u1ed7 kho\u1ea3ng 2,500 USDT. C\u1eb7p h\u00f2a v\u1ed1n, nh\u01b0ng t\u00e0i kho\u1ea3n OKX \u0111\u00e3 m\u1ea5t ph\u1ea7n l\u1edbn initial margin, v\u00e0 kho\u1ea3n l\u00e3i n\u1eb1m tr\u00ean m\u1ed9t s\u00e0n kh\u00e1c m\u00e0 OKX kh\u00f4ng th\u1ec3 th\u1ea5y. \u0110\u00f3 l\u00e0 r\u1ee7i ro c\u1ed1t l\u00f5i c\u1ee7a c\u00e1c c\u1eb7p li\u00ean s\u00e0n, v\u00e0 \u0111\u00f3 l\u00e0 l\u00fd do ch\u1ebf \u0111\u1ed9 margin c\u00f9ng \u0111\u00f2n b\u1ea9y b\u1ea1n ch\u1ecdn tr\u00ean s\u00e0n quan tr\u1ecdng h\u01a1n b\u1ea5t k\u1ef3 c\u00e0i \u0111\u1eb7t n\u00e0o b\u00ean trong bot.<\/p>\n

    Gi\u1ea3i th\u00edch spot, cross margin v\u00e0 isolated margin<\/h2>\n

    C\u1ea3 ba ch\u1ebf \u0111\u1ed9 \u0111\u1ec1u giao d\u1ecbch c\u00f9ng m\u1ed9t th\u1ecb tr\u01b0\u1eddng. Ch\u00fang kh\u00e1c nhau \u1edf ngu\u1ed3n ti\u1ec1n v\u00e0 \u1edf nh\u1eefng g\u00ec c\u00f3 th\u1ec3 m\u1ea5t n\u1ebfu v\u1ecb th\u1ebf \u0111i ng\u01b0\u1ee3c v\u1edbi b\u1ea1n.<\/p>\n

    \"So
    Spot thanh to\u00e1n \u0111\u1ea7y \u0111\u1ee7 v\u00e0 kh\u00f4ng th\u1ec3 b\u1ecb thanh l\u00fd. Cross margin d\u00f9ng to\u00e0n b\u1ed9 s\u1ed1 d\u01b0 t\u00e0i kho\u1ea3n l\u00e0m v\u00f9ng \u0111\u1ec7m chung. Isolated margin r\u00e0o ri\u00eang t\u1eebng v\u1ecb th\u1ebf: ch\u1ec9 margin c\u1ee7a ch\u00ednh n\u00f3 ch\u1ecbu r\u1ee7i ro, nh\u01b0ng v\u1ecb th\u1ebf b\u1ecb thanh l\u00fd s\u1edbm h\u01a1n.<\/figcaption><\/figure>\n

    Spot (gi\u00e1 tr\u1ecb 0)<\/h3>\n

    B\u1ea1n giao d\u1ecbch b\u1eb1ng nh\u1eefng g\u00ec c\u00f3 trong t\u00e0i kho\u1ea3n. Mua c\u1ea7n \u0111\u1ee7 s\u1ed1 ti\u1ec1n b\u1eb1ng USDT; b\u00e1n c\u1ea7n c\u00f3 coin. Kh\u00f4ng vay, kh\u00f4ng thanh l\u00fd v\u00e0 kh\u00f4ng tr\u1ea3 funding. H\u1ea1n ch\u1ebf \u0111\u1ed1i v\u1edbi pair trading l\u00e0 chi\u1ec1u giao d\u1ecbch: tr\u00ean t\u00e0i kho\u1ea3n spot th\u00f4ng th\u01b0\u1eddng, b\u1ea1n ch\u1ec9 c\u00f3 th\u1ec3 b\u00e1n coin m\u00ecnh \u0111\u00e3 n\u1eafm gi\u1eef. N\u1ebfu logic c\u1ee7a c\u1eb7p c\u00f3 th\u1ec3 c\u1ea7n m\u1edf short<\/em> \u1edf ph\u00eda \u0111\u00f3, ph\u00eda spot ch\u1ec9 l\u00e0m \u0111\u01b0\u1ee3c khi coin \u0111\u00e3 c\u00f3 s\u1eb5n.<\/p>\n

    Cross margin (gi\u00e1 tr\u1ecb 1)<\/h3>\n

    T\u1ea5t c\u1ea3 v\u1ecb th\u1ebf trong t\u00e0i kho\u1ea3n margin d\u00f9ng chung m\u1ed9t ngu\u1ed3n t\u00e0i s\u1ea3n th\u1ebf ch\u1ea5p. V\u1ecb th\u1ebf thua l\u1ed7 s\u1ebd r\u00fat t\u1eeb to\u00e0n b\u1ed9 s\u1ed1 d\u01b0 tr\u01b0\u1edbc khi b\u1ecb thanh l\u00fd, n\u00ean ch\u1ecbu \u0111\u01b0\u1ee3c bi\u1ebfn \u0111\u1ed9ng l\u1edbn h\u01a1n. M\u1eb7t tr\u00e1i l\u00e0 m\u1ed9t v\u1ecb th\u1ebf r\u1ea5t x\u1ea5u c\u00f3 th\u1ec3 ti\u00eau h\u1ebft margin v\u1ed1n d\u00e0nh cho c\u00e1c v\u1ecb th\u1ebf kh\u00e1c. V\u1edbi m\u1ed9t ch\u00e2n \u0111\u01b0\u1ee3c hedge tr\u00ean m\u1ed7i t\u00e0i kho\u1ea3n, cross margin th\u01b0\u1eddng l\u00e0 l\u1ef1a ch\u1ecdn d\u1ec5 ch\u1ecbu h\u01a1n: to\u00e0n b\u1ed9 s\u1ed1 d\u01b0 b\u1ea1n gi\u1eef \u1edf \u0111\u00f3 tr\u1edf th\u00e0nh v\u00f9ng \u0111\u1ec7m.<\/p>\n

    Isolated margin (gi\u00e1 tr\u1ecb 2)<\/h3>\n

    M\u1ed7i v\u1ecb th\u1ebf c\u00f3 margin ri\u00eang. N\u1ebfu b\u1ecb thanh l\u00fd, b\u1ea1n m\u1ea5t ph\u1ea7n margin \u0111\u00f3 v\u00e0 kh\u00f4ng m\u1ea5t g\u00ec kh\u00e1c trong t\u00e0i kho\u1ea3n. Ch\u1ebf \u0111\u1ed9 isolated h\u1eefu \u00edch khi m\u1ed9t t\u00e0i kho\u1ea3n ch\u1ea1y nhi\u1ec1u chi\u1ebfn l\u01b0\u1ee3c kh\u00f4ng li\u00ean quan, ho\u1eb7c khi b\u1ea1n mu\u1ed1n gi\u1edbi h\u1ea1n c\u1ee9ng m\u1ee9c l\u1ed7 c\u1ee7a m\u1ed9t c\u1eb7p. V\u1edbi c\u00f9ng \u0111\u00f2n b\u1ea9y, v\u1ecb th\u1ebf isolated b\u1ecb thanh l\u00fd s\u1edbm h\u01a1n v\u1ecb th\u1ebf cross trong t\u00e0i kho\u1ea3n c\u00f3 \u0111\u1ee7 v\u1ed1n, v\u00ec n\u00f3 kh\u00f4ng th\u1ec3 vay t\u1eeb ph\u1ea7n s\u1ed1 d\u01b0 c\u00f2n l\u1ea1i.<\/p>\n

    \n\n\n\n\n\n\n\n\n\n\n
    <\/th>\nSpot (0)<\/th>\nCross margin (1)<\/th>\nIsolated margin (2)<\/th>\n<\/tr>\n<\/thead>\n
    Ti\u1ec1n \u0111\u01b0\u1ee3c s\u1eed d\u1ee5ng<\/td>\nCh\u1ec9 s\u1ed1 d\u01b0 s\u1edf h\u1eefu<\/td>\nTo\u00e0n b\u1ed9 s\u1ed1 d\u01b0 margin, d\u00f9ng chung<\/td>\nMargin ph\u00e2n b\u1ed5 cho v\u1ecb th\u1ebf<\/td>\n<\/tr>\n
    Vay \/ \u0111\u00f2n b\u1ea9y<\/td>\nKh\u00f4ng<\/td>\nC\u00f3<\/td>\nC\u00f3<\/td>\n<\/tr>\n
    M\u1edf short khi kh\u00f4ng n\u1eafm gi\u1eef coin<\/td>\nKh\u00f4ng<\/td>\nC\u00f3 (margin spot \u0111i vay; perpetual short tr\u1ef1c ti\u1ebfp)<\/td>\nC\u00f3<\/td>\n<\/tr>\n
    Thanh l\u00fd<\/td>\nKh\u00f4ng bao gi\u1edd<\/td>\nKhi to\u00e0n b\u1ed9 margin t\u00e0i kho\u1ea3n c\u1ea1n ki\u1ec7t<\/td>\nKhi margin c\u1ee7a v\u1ecb th\u1ebf \u0111\u00f3 c\u1ea1n ki\u1ec7t<\/td>\n<\/tr>\n
    L\u1ed7 t\u1ed1i \u0111a<\/td>\nGi\u00e1 tr\u1ecb v\u1ecb th\u1ebf gi\u1ea3m v\u1ec1 0<\/td>\nL\u00ean t\u1edbi to\u00e0n b\u1ed9 s\u1ed1 d\u01b0 margin<\/td>\nMargin c\u1ee7a v\u1ecb th\u1ebf \u0111\u00f3<\/td>\n<\/tr>\n
    C\u00e1ch d\u00f9ng \u0111i\u1ec3n h\u00ecnh trong m\u1ed9t c\u1eb7p<\/td>\nCh\u00e2n long \u0111\u01b0\u1ee3c c\u1ea5p v\u1ed1n \u0111\u1ea7y \u0111\u1ee7<\/td>\nCh\u00e2n perpetual \u0111\u01b0\u1ee3c hedge c\u00f3 v\u00f9ng \u0111\u1ec7m<\/td>\nNhi\u1ec1u c\u1eb7p tr\u00ean m\u1ed9t t\u00e0i kho\u1ea3n, gi\u1edbi h\u1ea1n l\u1ed7 c\u1ee9ng cho m\u1ed7i c\u1eb7p<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

    Tr\u00ean HTX spot, ba gi\u00e1 tr\u1ecb tr\u1ecf t\u1edbi ba t\u00e0i kho\u1ea3n kh\u00e1c nhau trong giao di\u1ec7n HTX: t\u00e0i kho\u1ea3n spot, t\u00e0i kho\u1ea3n cross margin v\u00e0 t\u00e0i kho\u1ea3n isolated margin c\u1ee7a c\u1eb7p \u0111\u00f3. Ti\u1ec1n kh\u00f4ng t\u1ef1 \u0111\u1ed9ng chuy\u1ec3n gi\u1eefa c\u00e1c t\u00e0i kho\u1ea3n n\u00e0y. N\u1ebfu gi\u00e1 tr\u1ecb Margin l\u00e0 1 nh\u01b0ng USDT c\u1ee7a b\u1ea1n n\u1eb1m trong t\u00e0i kho\u1ea3n spot, l\u1ec7nh s\u1ebd kh\u00f4ng c\u00f3 ti\u1ec1n \u0111\u1ec3 giao d\u1ecbch. H\u00e3y chuy\u1ec3n t\u00e0i s\u1ea3n th\u1ebf ch\u1ea5p v\u00e0o t\u00e0i kho\u1ea3n m\u00e0 gi\u00e1 tr\u1ecb tr\u1ecf t\u1edbi tr\u01b0\u1edbc khi kh\u1edfi \u0111\u1ed9ng chi\u1ebfn l\u01b0\u1ee3c.<\/p>\n

    M\u1ed9t c\u1eb7p \u0111\u01b0\u1ee3c hedge c\u00f3 th\u1ec3 d\u00f9ng \u0111\u00f2n b\u1ea9y bao nhi\u00eau<\/h2>\n

    \u0110\u00f2n b\u1ea9y \u0111\u01b0\u1ee3c \u0111\u1eb7t tr\u00ean s\u00e0n, nh\u01b0ng \u0111\u00f3 l\u00e0 quy\u1ebft \u0111\u1ecbnh r\u1ee7i ro quan tr\u1ecdng nh\u1ea5t trong m\u1ed9t c\u1eb7p crypto. C\u1eb7p \u0111\u01b0\u1ee3c hedge v\u1ec1 gi\u00e1, kh\u00f4ng ph\u1ea3i v\u1ec1 margin: l\u1ee3i nhu\u1eadn c\u1ee7a m\u1ed9t ch\u00e2n kh\u00f4ng th\u1ec3 b\u00f9 kho\u1ea3n l\u1ed7 c\u1ee7a ch\u00e2n kia khi ch\u00fang n\u1eb1m tr\u00ean c\u00e1c s\u00e0n kh\u00e1c nhau. V\u00ec v\u1eady c\u00e2u h\u1ecfi l\u00e0 gi\u00e1 c\u00f3 th\u1ec3 \u0111i ng\u01b0\u1ee3c ch\u00e2n d\u00f9ng \u0111\u00f2n b\u1ea9y bao xa tr\u01b0\u1edbc khi s\u00e0n \u0111\u00f3 thanh l\u00fd n\u00f3.<\/p>\n

    \u01af\u1edbc t\u00ednh s\u01a1 b\u1ed9 cho m\u1ed9t v\u1ecb th\u1ebf isolated \u0111\u01a1n l\u1ebb l\u00e0:<\/p>\n

    bi\u1ebfn \u0111\u1ed9ng b\u1ea5t l\u1ee3i \u0111\u1ebfn thanh l\u00fd \u2248 1 \/ \u0111\u00f2n b\u1ea9y \u2212 t\u1ef7 l\u1ec7 maintenance margin<\/div>\n
    \"Bi\u1ebfn
    Bi\u1ebfn \u0111\u1ed9ng gi\u00e1 \u01b0\u1edbc t\u00ednh \u0111i ng\u01b0\u1ee3c ch\u00e2n d\u00f9ng \u0111\u00f2n b\u1ea9y tr\u01b0\u1edbc khi v\u1ecb th\u1ebf isolated b\u1ecb thanh l\u00fd, v\u1edbi maintenance margin 0.5% v\u00e0 kh\u00f4ng t\u00ednh ph\u00ed. Ng\u01b0\u1ee1ng th\u1ef1c t\u1ebf ph\u1ee5 thu\u1ed9c v\u00e0o c\u00e1c b\u1eadc r\u1ee7i ro c\u1ee7a s\u00e0n, ph\u00ed v\u00e0, \u1edf ch\u1ebf \u0111\u1ed9 cross, v\u00e0o s\u1ed1 d\u01b0 b\u1ed5 sung trong t\u00e0i kho\u1ea3n. Minh h\u1ecda.<\/figcaption><\/figure>\n
    \n\n\n\n\n\n\n\n\n\n
    \u0110\u00f2n b\u1ea9y tr\u00ean s\u00e0n<\/th>\nInitial margin tr\u00ean m\u1ed7i 10,000 USDT<\/th>\nBi\u1ebfn \u0111\u1ed9ng b\u1ea5t l\u1ee3i \u01b0\u1edbc t\u00ednh \u0111\u1ebfn thanh l\u00fd (isolated)<\/th>\n\u00dd ngh\u0129a \u0111\u1ed1i v\u1edbi m\u1ed9t c\u1eb7p<\/th>\n<\/tr>\n<\/thead>\n
    2x<\/td>\n5,000<\/td>\nkho\u1ea3ng 49%<\/td>\nCh\u1ecbu \u0111\u01b0\u1ee3c h\u1ea7u h\u1ebft c\u00e1c \u0111\u1ee3t squeeze th\u1ef1c t\u1ebf<\/td>\n<\/tr>\n
    3x<\/td>\n3,333<\/td>\nkho\u1ea3ng 33%<\/td>\nTho\u1ea3i m\u00e1i v\u1edbi \u0111a s\u1ed1 coin n\u1ebfu c\u00f3 theo d\u00f5i<\/td>\n<\/tr>\n
    5x<\/td>\n2,000<\/td>\nkho\u1ea3ng 19%<\/td>\nM\u1ed9t \u0111\u1ee3t t\u0103ng m\u1ea1nh c\u1ee7a altcoin c\u00f3 th\u1ec3 ch\u1ea1m t\u1edbi trong v\u00e0i ng\u00e0y<\/td>\n<\/tr>\n
    10x<\/td>\n1,000<\/td>\nkho\u1ea3ng 9.5%<\/td>\nM\u1ed9t phi\u00ean bi\u1ebfn \u0111\u1ed9ng c\u00f3 th\u1ec3 thanh l\u00fd ch\u00e2n trong khi c\u1eb7p v\u1eabn h\u00f2a v\u1ed1n<\/td>\n<\/tr>\n
    20x<\/td>\n500<\/td>\nkho\u1ea3ng 4.5%<\/td>\nKh\u00f4ng ph\u00f9 h\u1ee3p \u0111\u1ec3 duy tr\u00ec hedge<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

    C\u00e1c con s\u1ed1 d\u1eabn t\u1edbi m\u1ed9t quy t\u1eafc \u0111\u01a1n gi\u1ea3n: ch\u1ecdn \u0111\u00f2n b\u1ea9y theo m\u1ee9c bi\u1ebfn \u0111\u1ed9ng m\u00e0 ch\u00e2n ph\u1ea3i ch\u1ecbu \u0111\u01b0\u1ee3c, kh\u00f4ng theo s\u1ed1 v\u1ed1n ti\u1ebft ki\u1ec7m \u0111\u01b0\u1ee3c. S\u1ef1 h\u1ed9i t\u1ee5 spread trong pair trading c\u00f3 th\u1ec3 m\u1ea5t h\u00e0ng gi\u1edd ho\u1eb7c h\u00e0ng ng\u00e0y, v\u00e0 trong th\u1eddi gian \u0111\u00f3 gi\u00e1 t\u1eebng t\u00e0i s\u1ea3n c\u00f3 th\u1ec3 bi\u1ebfn \u0111\u1ed9ng m\u1ea1nh h\u01a1n nhi\u1ec1u so v\u1edbi spread. N\u1ebfu ch\u00e2n d\u00f9ng \u0111\u00f2n b\u1ea9y b\u1ecb thanh l\u00fd, c\u1eb7p kh\u00f4ng c\u00f2n \u0111\u01b0\u1ee3c hedge: b\u1ea1n ch\u1ec9 c\u00f2n l\u1ea1i m\u1ed9t v\u1ecb th\u1ebf m\u1edf tr\u00ean s\u00e0n kia, th\u01b0\u1eddng v\u00e0o th\u1eddi \u0111i\u1ec3m t\u1ec7 nh\u1ea5t.<\/p>\n