Margin Account - Vanna

Your Margin Account is a program-derived account. It holds token vaults, debt positions, and Lite/Kamino receipts. The wallet signs. The program moves funds. One wallet → one margin PDA. There are no subaccounts.

Read the metrics

Metric	Meaning
Health Factor	Collateral USD / debt USD. Must stay > 1.1
Borrowed value	Outstanding debt, including accrued interest
Collateral	Live SPL balances in margin vaults, plus recognized Lite value
Effective leverage	Position size / your equity on Perps and Farm

An account with debt is healthy only when collateral USD / debt USD > 1.10. Equality is unhealthy. A displayed Health Factor at or below 1.1 is a liquidation candidate.

Start with Open Account, Deposit, and Borrow. Most traders skip the manual path and open from Perps or Farm.