> ## 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 - Equities - Metals - Indices - Energy description: Asset class of the margin markets covered by this entry. EstimatePortfolioMaintenanceMarginPosition: type: object required: - market_ticker - quantity 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. Omit to use the market's mark price from its latest settlement (before the end of `date`, if set); returns 400 if there is none. 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.