This mainly depends on the margin ratio. If the margin ratio is the same as that of the exchange, then if the risk exceeds 100%, it is a strong liquidation line. If it exceeds 100%, it is a bad exchange. How could the exchange allow this to happen?

However, if the margin ratio is based on the exchange, the risk may not be equalized until about 120%.

But generally speaking, futures companies will call before being forced to close their positions, either to make up the margin within the specified time or to close their positions.