> ## Documentation Index > Fetch the complete documentation index at: https://docs.kalshi.com/llms.txt > Use this file to discover all available pages before exploring further. # Estimate Portfolio Maintenance Margin > Maintenance margin requirement in dollars for a hypothetical portfolio, margined under the rules that apply to the authenticated clearing member. Positions and prices are supplied by the caller and need not reflect positions held. Every market in `positions` must belong to `asset_class`. The response includes the component breakdown of the estimate; see the response schema for the semantics of each component. ## OpenAPI ````yaml /perps_scm_openapi.yaml post /margin/estimate_maintenance_margin openapi: 3.0.0 info: title: Kalshi Clearing Member API version: 0.0.1 description: > Klear API endpoints available to clearing members — institutional users who clear margin activity directly with Kalshi. ## Authentication All endpoints require an admin access token passed in the `Authorization` header: `Authorization: Bearer :` To generate an access token and obtain your admin user id, sign in at https://klearing.kalshi.com, and navigate to the "Security" page. If you are in the process of onboarding to be a clearing member, please contact your contact at Kalshi for credentials. Otherwise, please contact institutional@kalshi.com. servers: - url: https://api.klear.kalshi.com/klear-api/v1 description: Production - url: https://demo-api.kalshi.co/klear-api/v1 description: Demo security: - kalshiBearer: [] paths: /margin/estimate_maintenance_margin: post: summary: Estimate Portfolio Maintenance Margin description: >- Maintenance margin requirement in dollars for a hypothetical portfolio, margined under the rules that apply to the authenticated clearing member. Positions and prices are supplied by the caller and need not reflect positions held. Every market in `positions` must belong to `asset_class`. The response includes the component breakdown of the estimate; see the response schema for the semantics of each component. operationId: EstimatePortfolioMaintenanceMargin requestBody: required: true content: application/json: schema: $ref: '#/components/schemas/EstimatePortfolioMaintenanceMarginRequest' responses: '200': description: Successful response content: application/json: schema: $ref: >- #/components/schemas/EstimatePortfolioMaintenanceMarginResponse '400': $ref: '#/components/responses/BadRequestError' '401': $ref: '#/components/responses/UnauthorizedError' '403': $ref: '#/components/responses/ForbiddenError' '404': $ref: '#/components/responses/NotFoundError' '500': $ref: '#/components/responses/InternalServerError' components: schemas: EstimatePortfolioMaintenanceMarginRequest: type: object required: - asset_class - positions properties: asset_class: $ref: '#/components/schemas/AssetClass' date: type: string format: date description: >- Margin the portfolio against the matrices calibrated on this Eastern-time day (YYYY-MM-DD). Omit to use the current matrices. Returns 404 if no matrices were calibrated that day, or 400 if a requested market is absent from them. clearing_type: type: string enum: - FCM - SelfClearing description: >- Clearing arrangement whose margin rules to apply. Omit to use the arrangement on record for the authenticated clearing member. positions: type: array minItems: 1 maxItems: 500 description: >- Hypothetical portfolio to margin. Market tickers must be unique and must name markets that exist in the requested asset class. items: $ref: '#/components/schemas/EstimatePortfolioMaintenanceMarginPosition' EstimatePortfolioMaintenanceMarginResponse: type: object properties: maintenance_margin_fp: type: string description: >- Maintenance margin requirement for the submitted portfolio, in USD (e.g. "1234.5600"). Equals base_margin_fp + funding_addon_fp + liquidation_addon_fp, subject to per-market minimums on gross-margined markets and to each component being rounded individually, so the components need not sum exactly to this total. base_margin_fp: type: string description: >- Base scenario margin charged, in USD: the larger of the historical-VaR and APC candidates, taken per market for gross-margined markets and across the whole portfolio for portfolio-margined ones, then summed. Equals max(hvar_fp, apc_fp) only when the entire portfolio is portfolio-margined; with gross-margined markets it can exceed both. hvar_fp: type: string description: >- Portfolio total of the historical-VaR candidate for the base scenario margin, in USD. apc_fp: type: string description: >- Portfolio total of the APC candidate for the base scenario margin, in USD, computed over the pooled APC and augmented stress scenario set. funding_addon_fp: type: string description: Funding margin add-on, in USD. liquidation_addon_fp: type: string description: Liquidation margin add-on, in USD. AssetClass: type: string enum: - Crypto description: Asset class of the margin markets covered by this entry. EstimatePortfolioMaintenanceMarginPosition: type: object required: - market_ticker - quantity - price properties: market_ticker: type: string description: >- Market to include in the hypothetical portfolio. Must belong to the request's asset class. quantity: type: integer format: int64 description: >- Signed whole contract count; positive long, negative short. Must be non-zero. price: type: string description: >- Price of one contract in USD, to at most four decimal places (e.g. "6.8000"). Must be positive. Error: type: object required: - code - message properties: code: type: string description: Machine-readable error code. message: type: string description: Human-readable error message. details: type: string service: type: string responses: BadRequestError: description: Bad request - invalid input content: application/json: schema: $ref: '#/components/schemas/Error' UnauthorizedError: description: Missing or invalid authentication content: application/json: schema: $ref: '#/components/schemas/Error' ForbiddenError: description: Caller is not permitted to access this resource content: application/json: schema: $ref: '#/components/schemas/Error' NotFoundError: description: Resource not found content: application/json: schema: $ref: '#/components/schemas/Error' InternalServerError: description: Internal server error content: application/json: schema: $ref: '#/components/schemas/Error' securitySchemes: kalshiBearer: type: http scheme: bearer bearerFormat: admin_user_id:access_token description: > Pass `Authorization: Bearer :` on each request. ```` This documentation is built and hosted on [Mintlify](https://mintlify.com), a developer documentation platform.