> ## Documentation Index
> Fetch the complete documentation index at: https://docs.solana.vanna.finance/llms.txt
> Use this file to discover all available pages before exploring further.

# For Traders and Borrowers

> Use a cross-margin account to long, short, swap, and farm tokenized stocks.

Your **Margin Account** is a PDA owned by the Vanna program. It holds collateral vaults, debt positions, and Lite/Kamino receipts. One wallet gets exactly one margin account.

1. [Create the account](/guides/margin/open-account) (first transaction, once).
2. Deposit stock or USDC as collateral.
3. Borrow against it, or go straight to **Perps** / **Farm** — those flows deposit and borrow for you.
4. Watch **Health Factor**. Stay above 1.1.
5. Close or repay before withdrawing leftover collateral.

The account shares risk across every position. A profitable TSLAx long does not isolate you from a losing OPENAI Farm.

<Warning>
  Leverage can liquidate your account. Health factor must stay **strictly above 1.1**. Prices, borrow interest, swap slippage, and Kamino exchange rates all move health. Only deposit what you can afford to lose.
</Warning>

See [Perps](/guides/perps/overview), [Farm](/guides/farm/overview), and [Health Factor](/guides/margin/health-factor).