> For the complete documentation index, see [llms.txt](https://docs.aevo.xyz/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.aevo.xyz/aevo-products/aevo-exchange/technical-architecture/auto-deleveraging-adl.md). # Auto-Deleveraging (ADL) ADL (Auto-Deleveraging) is the final step in the liquidation process, a last-resort safety feature used when a bankrupt position can't be liquidated normally due to market conditions: Aevo will close the most profitable, highest-leveraged positions first to maintain system stability. In the ADL system, traders are placed in an ADL priority queue. The higher your rank is in the queue, the higher the likelihood that your position will be auto-deleveraged. The calculation for the rank is stated below. On the UI, your ADL rank is shown for each position. The more bars that are lit, the higher the likelihood that your position will be ADL-ed. When auto-deleveraged, both accounts will trade at the mark price. ***Options and perps on majors (BTC, ETH, SOL) are currently not under ADL.*** *** ## ADL Rank Calculation The higher the rank, the higher the likelihood of ADL. ``` PNL Percent = UPNL / Max(1, Balance) If PNL Percentage ≤ 0, then Margin Ratio = 0 If PNL Percentage > 0, then Margin Ratio = Maintenance Margin / (Balance + UPNL) ADL Score = PNL Percent * Margin Ratio ``` --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter, and the optional `goal` query parameter: ``` GET https://docs.aevo.xyz/aevo-products/aevo-exchange/technical-architecture/auto-deleveraging-adl.md?ask=&goal= ``` `ask` is the immediate question: it should be specific, self-contained, and written in natural language. `goal` is optional and describes the broader end goal you are ultimately trying to accomplish on behalf of the user. GitBook uses it to tailor the answer towards what is most useful for that goal. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.