Glossary
What is a unified trading account (UTA)?
Also called: UTA, unified account, portfolio margin account, cross-product margin account
Updated Ninja Terminal team
Definition
A unified trading account, or UTA, is an exchange account type that shares one collateral pool across several products, such as spot, perpetuals, and options. Profit and loss in one position can offset margin needs in another, and the exchange often lets you pledge multiple assets as collateral. Bybit uses the name Unified Trading Account.
In a classic setup you move funds between separate spot and derivatives wallets. In a unified account, the margin system sees the whole account at once.
How does Bybit describe it?
In its V5 API, Bybit documents that existing accounts can be upgraded to a unified account. Funds are shared across Spot, USDT Perpetual, USDC Perpetual, and Options, and profit and loss can offset across positions. The account supports borrowing against multiple pledged assets. Bybit’s margin mode setting offers isolated, regular (cross), and portfolio margin.
Available balance in a UTA is reported in a specific way. See the guide on Bybit unified account available balance.
What about OKX and Binance?
- OKX documents four account modes: Spot mode, Futures mode, Multi-currency margin mode, and Portfolio margin mode. The mode decides which margin features apply, and in portfolio margin mode futures and swaps support net position mode only.
- Binance offers Portfolio Margin as a separate account mode. Its API key rules note that futures permission cannot be enabled on a key while Portfolio Margin is active.
These are not identical products. Margin rules, collateral lists, and limits differ.
What does it change for risk?
Pooled collateral can lower margin needs, but a loss in one product can reduce the margin for all of the others, much like cross margin. Watch your maintenance margin and liquidation distance across the whole account.
Where does it appear in Ninja Terminal?
Ninja Terminal connects Bybit accounts for Spot and linear perpetuals, next to your other exchanges.
Frequently asked questions
Is a UTA the same as cross margin?
They are related but not the same. Cross margin is a mode for derivatives positions. A UTA also shares collateral across products such as spot and options.
Can I switch back from a UTA?
Rules depend on the exchange and on your open positions. Check the exchange's help center before you upgrade.