docs: sync Polymarket docs updates 2026-07-13 - add 90 new pages incl. Perps section

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+> ## Documentation Index
+> Fetch the complete documentation index at: https://docs.polymarket.com/llms.txt
+> Use this file to discover all available pages before exploring further.
+
+# Margin
+
+> Initial margin, maintenance margin, and equity calculations
+
+Margin is the collateral required to open and maintain leveraged positions. It
+ensures traders have enough collateral to cover potential losses and gives the
+system a buffer to close positions before they become insolvent.
+
+There are two thresholds. **Initial margin (IM)** is the collateral required to
+open or increase a position. **Maintenance margin (MM)** is the minimum
+collateral required to keep a position open. When equity drops below maintenance
+margin, the position is [liquidated](/perps/learn-about-trading/liquidation-mechanics).
+
+## Equity
+
+Equity is the real-time value of an account, incorporating all open positions at
+current Mark Price.
+
+```text theme={null}
+Equity = Collateral + UnrealizedPnL(Mark) - FeesDue - FundingDue
+```
+
+### Unrealized PnL
+
+```text theme={null}
+Long PnL = PositionSize * (Mark - EntryPrice)
+Short PnL = PositionSize * (EntryPrice - Mark)
+```
+
+Because equity depends on Mark Price, equity follows live mark updates. See
+[Mark Price](/perps/learn-about-trading/mark-price).
+
+## Margin Requirements
+
+```text theme={null}
+IM = Notional / L_max
+MM = Notional / L_maint
+```
+
+Margin requirements scale with position size through leverage tiers. Larger
+positions require proportionally more margin. Margin is calculated incrementally
+across tiers, so a position spanning two tiers uses the lower tier's rate on
+notional up to its upper bound and the next tier's rate on the remainder.
+
+Margin requirements are static across sessions.
+
+## Margin States
+
+An account is always in one of three states.
+
+| State       | Condition           | What Happens                                   |
+| ----------- | ------------------- | ---------------------------------------------- |
+| Healthy     | `Equity >= IM`      | Normal trading                                 |
+| Margin call | `MM <= Equity < IM` | Can only reduce exposure or deposit collateral |
+| Liquidation | `Equity < MM`       | The system begins closing the position         |
+
+## Margin Checks
+
+### Pre-Trade
+
+Before any order executes, the system verifies the account can afford it:
+
+1. Compute the new position after the order fills.
+2. Calculate required initial margin using the market's leverage tiers.
+3. Reject the order if equity is below required initial margin.
+
+This prevents accounts from entering a margin-call state through new trades.
+
+### Continuous Monitoring
+
+The system continuously evaluates accounts:
+
+* If equity falls below maintenance margin, liquidation begins.
+* If equity is between maintenance margin and initial margin, the account may enter reduce-only mode.
+
+## Deposits and Withdrawals
+
+Deposits increase equity. A deposit during margin call can restore the account to
+healthy status immediately.
+
+Withdrawals require the account to remain above required initial margin after the
+withdrawal. You cannot withdraw yourself into a margin call.