Cross Margin vs Delta-Neutral

A margin mode in which the entire account balance is available to prevent liquidation of any open position; useful for hedging strategies with offsetting positions, but risks total account loss if a large position moves severely against the entire book.

A portfolio or position configuration in which the combined exposure to price movement is zero; achieved in basis trading by holding equal and opposite long spot and short futures positions; a delta-neutral position profits from carry income (funding rate) rather than directional price movement.