Risk limits on KCEX: size sets MMR, margin ratio 100% starts liquidation steps

That is why two traders with the same leverage can see different maintenance pressure: their notionals sit on different tiers.

Rule: when the margin ratio reaches or exceeds 100%, liquidation handling starts. Maintenance margin rate is set by position size, not by the leverage slider. Tiered steps try to reduce size before a full take-over when the book allows it.

Core formulas

margin_ratio = (maintenance_margin + liquidation_fee) / (position_margin + unrealized_pnl) Liquidation handling begins when margin_ratio >= 1.0 (100%). maintenance_margin = notional x maintenance_margin_rate maintenance_margin_rate comes from the size tier for that contract, not from the leverage dial.

We are not publishing a max leverage number for KCEX in this guide. Public sources for that figure still conflict, and this run could not refresh the live risk_limit table from the box (support and API responses returned blocked pages). Treat every size band and every maintenance_margin_rate as something to confirm on the live futures risk panel before you trade. The formulas above still hold; only the numeric rows need a fresh panel read.

Worked steps

1. Open the pair you trade and note isolated versus cross. Margin mode changes which equity pool backs the ratio.
2. Read the risk-limit / position-tier panel for that pair. Find the maintenance_margin_rate that applies to your planned notional N.
3. Compute maintenance_margin = N x maintenance_margin_rate.
4. Estimate margin_ratio with your position_margin and unrealized_pnl variables. If the ratio is climbing toward 100%, size or margin has to change before the engine starts its steps.
5. Remember the order of operations the support guide describes: cancel risk-occupying orders, apply any hedged netting the mode allows, attempt tiered reduction when the position sits above the lowest risk tier, then handle any remainder.
6. Re-read the tier after every add. The rate is a function of size. Sliding leverage down without cutting notional does not rewrite the tier by itself.
7. Keep a simple log: notional before, notional after, maintenance_margin_rate before, maintenance_margin_rate after. That log catches silent tier climbs faster than memory does.

What changes it

• Position size: larger notional walks you into higher maintenance_margin_rate rows when the ladder says so.
• Margin mode: isolated confines the ratio to one position; cross shares equity across the futures wallet.
• Mark versus last: the ratio uses the venue risk price path, so a last-price bounce does not automatically repair a mark-driven ratio.
• Open orders: orders that occupy margin can keep the ratio elevated until they are cancelled in the early liquidation steps.
• Unverified this run: exact BTC / ETH / SOL / XRP / DOGE tier cutovers and rates. Those belong on the live risk_limit page and must be confirmed on capture before anyone treats a number as live.

Common mistakes

1. Cutting leverage and assuming maintenance_margin_rate fell with it. The rate follows size.
2. Watching last price while the margin ratio is computed on the risk price path.
3. Adding to a winner without checking whether the add crosses the next size tier and lifts maintenance_margin.
4. Skipping the panel after a hedge. Net size can change the tier even when gross exposure still feels familiar.

FAQ

Q: Is there a single KCEX max leverage we can quote today? A: Not in this package. Sources still conflict and the live endpoints were blocked from this run. Read the pair panel.

Q: Does a stop order replace risk limits? A: No. Stops are orders. Risk limits and the margin ratio are account and position rules that can still fire if mark and equity say so.

Q: What should I verify on the screenshot before trusting a number? A: The pair symbol, the size tier row, the maintenance_margin_rate label, and the domain. Those are the must-show fields for this topic.

Q: Why avoid invented worked dollars here? A: Because the live tier rates were not refreshed this run. Formulas travel; stale digits do not.

Anything unclear, ask in the comments.