multiassets

TradFi Perpetuals on Binance are denominated and settled in USDT. However, the settlement asset and the collateral asset are not the same. If the contract specification supports the Multi-Assets Mode, a user can collateralize USDⓈ-M positions with multiple permitted assets, and margin works only in Cross Mode.
Profit or loss on a USDT contract still occurs in USDT. Therefore, a wallet may show a negative USDT balance even when the total value of other collateral assets is positive. Under certain conditions, the system triggers Auto-Exchange: it proportionally converts positive balances at the market price to cover the shortfall.