Binance Futures Will Update the Leverage, Margin Tiers, Funding Rate Settlement Frequency and Capped Funding Rate Multiplier of USDⓈ-M MTLUSDT Perpetual Contract (2023-06-07)
Binance Futures will adjust the leverage and margin tiers of the USDⓈ-M MTLUSDT Perpetual Contract at 2023-06-07 14:30 (UTC), as per the table below.
In addition, Binance will increase the funding rate settlement frequency of the USDⓈ-M MTLUSDT Perpetual Contract at 2023-06-07 16:00 (UTC).
Existing positions opened before the update will be affected. It is strongly advised to adjust the position and leverage prior to the adjustment in order to avoid any potential liquidation.
Updates to Leverage & Margin Tiers:
MTLUSDT (USDⓈ-M Perpetual Contract)
Updated Funding Rate Settlement Frequency of USDⓈ-M MTLUSDT Perpetual Contract:
The capped funding rate multiplier for the USDⓈ-M MTLUSDT Perpetual Contracts was raised from 0.75 to 1.
Capped Funding Rate = clamp (Funding Rate, -1 * Maintenance Margin Ratio, 1 * Maintenance Margin Ratio). For more on funding rate, please refer to Introduction to Binance Futures Funding Rates.
It is important to note that the maintenance margin change will directly affect liquidation price. Users who hold existing positions of the USDⓈ-M MTLUSDT Perpetual Contract will be affected. To avoid being liquidated (i.e., margin ratio hits 100%), please add more margin to your USDⓈ-M Futures account or reduce your positions. It is recommended to control the margin ratio below 80%.
In order to protect users and prevent potential risks in extremely volatile market conditions, Binance Futures may undertake additional protective measures toward the USDⓈ-M MTLUSDT Perpetual Contract without further announcement, including but not limited to adjusting the maximum leverage value, position value, and maintenance margin in each margin tier, updating funding rates such as the interest rate, premium, funding rate settlement frequency and capped funding rate, changing the constituents of the price index, and using the Last Price Protected mechanism to update the Mark Price.
Where any discrepancy arises between the translated versions and the original English version, the English version shall prevail.
For more information:
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Binance reserves the right in its sole discretion to amend or cancel this announcement at any time and for any reasons without prior notice.