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Depositing Collateral

Last updated: Jun 16, 2026

Synthetix Exchange runs on Ethereum Mainnet. Deposited collateral funds the selected subaccount only, and that collateral can be used to trade USDT-settled perps markets.

Supported collateral

USDT and WETH deposits are supported in the app today. Additional collateral types in the table below are planned.

AssetStatusContract address (Mainnet)Notes
USDTSupported today0xdAC17F958D2ee523a2206206994597C13D831ec7Base settlement asset. No haircut.
WETHSupported today0xC02aaA39b223FE8d0a0e5c4f27ead9083c756cc2Non-USDT collateral. Haircut applies.
cbBTCPlanned0xcbB7C0000aB88B473b1f5aFd9ef808440eed33BfPlanned non-USDT collateral.
sUSDePlanned0x9D39A5DE30e57443BfF2A8307A4256c8797A3497Planned non-USDT collateral.
wstETHPlanned0x7f39C581F595B53c5cb19bD0b3f8dA6c935E2Ca0Planned non-USDT collateral.

USDT is valued at full face value for deposits. Non-USDT assets such as WETH have a haircut applied, meaning their effective collateral value is less than their market value.

The deposit flow shows per-asset minimum deposits, current and maximum account deposits, and supported collateral types for the selected subaccount.

What you need before depositing

  • A supported wallet connected to Ethereum Mainnet
  • One of the supported collateral assets in your wallet
  • A small amount of ETH for gas

How to deposit

  1. Go to exchange.synthetix.io and connect your wallet.
  2. Select the subaccount you want to deposit into, or create one.
  3. Click Deposit.
  4. Select the collateral asset and enter the amount.
  5. If this is your first deposit with that asset, approve the token spend.
  6. Confirm the deposit transaction in your wallet.

Once the transaction is confirmed on Ethereum Mainnet, your balance updates in the app.

Effective collateral value

The exchange shows effective collateral value at the time of deposit. For example, if WETH has a 90% collateral ratio, 1 WETH worth 3,000 USDT contributes 2,700 USDT of effective margin.

For the full margin model, see Leverage & Margin.

Getting assets on Ethereum Mainnet

If you hold assets on another network or at a centralised exchange, you need to move them to Ethereum Mainnet first.

From another chain: From a CEX:

Most major exchanges, including Binance, Coinbase, and Kraken, support direct Ethereum Mainnet withdrawals. Choose "ERC-20" or "ETH Network" when withdrawing.

Minimum deposits

The deposit flow may show a minimum deposit per asset. Very small deposits may also not cover gas costs for subsequent on-chain transactions.

Deposit limits

Per-asset minimum deposits, maximum account deposits, and other limits are shown in the deposit flow when they apply. Protocol-level TVL limits may apply during early deployment phases; the app surfaces any active limits.

Haircuts can be tiered by the USD value of each asset in your account. With current per-account deposit limits, most users sit in the first tier, but you should use the Collateral Value shown in the app for your actual margin contribution.

See also