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When trading perpetual futures (for example, on crypto), do the concepts of initial and variation margins take place?

I'll expand on my point:

  1. Perpetual futures without leverage. For example, we want to long on BTC/USDT futures.We first pay some amount of money, let's call it as X, to get into the contract. Further, funding fees should be paid three times a day (00:00, 08:00 and 16:00 UTC): if the funding rate is positive, then longs pay shorts and vice versa. Let the market go against us at the funding time and we have to pay funding fees. Does the system reserve some amount Y at the beginning as an initial margin? Or X plays this role? Further, as we approach the funding time, this margin increases/decreases depending on the market movement? Or do we only add some money if X is not enough in these moments?

That is, in fact, we have different two mechanisms: price X here and "margin". Or am I wrongly thinking of a mechanism to protect against liquidation and it is the SAME mechanism?

  1. Perpetual futures with leverage.If in the first case it is possible to sell part of the contracts in order to pay funding fees (if the market went against us and we do not have free money), then in the second case leverage can multiply losses. Therefore, it seems that a margin mechanism is necessary here.

Please explain how margin works in perpetual futures, if it exists at all.

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There is definitely a concept of initial margin on crypto exchanges. It is the way they can liquidate you on a leveraged position and 'guarantee' to remain solvent. At most places your IM amount at all times should also cover the upcoming funding payment/receipt, if not, you will be liquidated.

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