bundlo perps · 06 of 8
Liquidations and safety net
How losing positions are closed and who covers what, in order.
When your losses eat your margin down to the maintenance level, the position is liquidated by the keeper. Liquidations run from a queue ordered by risk, riskiest first, without limits on how many.
- 1Trader losses pay winners first.
- 2Then a small slice of the market insurance fund, sized to the payout: up to 5% for small wins, 1% for the biggest, never more than 15% a day.
- 3Then a small slice of the Bundlo reserve: up to 10% a day for small wins, 5%, 2%, and nothing for the biggest. It never goes under 5,000,000 $BUNDLO.
- 4Whatever is left: auto deleverage, the winner's profit is cut. Big wins reach this step sooner, so insurance and reserve are never drained. The system stays solvent and never mints.
| Limit | Value |
|---|---|
| Max leverage | 5x |
| Open positions per account | 10 |
| Share of market open interest per account | 10% |
| Real deposit cap per user | 0.5 SOL |
| Minimum deposit | 0.01 SOL |
All solvency is counted in $BUNDLO. If $BUNDLO falls in dollars, winners still receive the right amount of $BUNDLO, worth fewer dollars.