Position-by-position model:
Position-by-position mode means that a portion of the margin is assigned to a particular position, which is "earmarked", and if the position is liquidated, up to the amount of the position's margin will be lost. Under this method, you can still increase or decrease the margin of the position. For example:
For example, user A holds BTC and ETH positions in USDT perpetual contract position-by-position mode; if user A's BTC contract guaranteed asset ratio ≤ 0 triggers a full liquidation, then the user's BTC/USDT perpetual contract position-by-position account has no remaining assets, while his ETH/USDT perpetual contract position-by-position account position is not affected.
Full Position Mode:
Full Position Mode means that all varieties of contracts of all contract types that support Full Position Mode share a single account interest, and the profit and loss, occupied collateralized assets, collateralized asset rate and other data in the account are combined and calculated:
For example, if user B holds positions in BTC and ETH perpetual contracts under the full position mode of the USDT perpetual contract, and also holds a position in the DOGE contract, then the assets in the full position account will provide security for the positions in these three contracts (BTC perpetual contract, ETH perpetual contract, DOGE perpetual contract), and the margin rate is calculated jointly. When the margin rate of the full USDT position is ≤1, the user's perpetual contract BTC position and ETH position, as well as DOGE perpetual contract, may trigger a strong close.
Tips: USDT perpetual contracts support full position and position-by-position mode, but the two can not be used at the same time!