Dear user:
Binance Futures will update the leverage and margin tiers of CYBERUSDT U-margin perpetual contracts at 18:30 (ET) on September 2, 2023. Users' current positions will be affected. Users are advised to adjust their margins according to the updated leverage and margin tiers to avoid forced liquidation. The specific adjustments are as follows:
CYBERUSDT U-based perpetual contract
Binance Futures has adjusted the funding rate settlement frequency of CYBERUSDT U-margined perpetual contracts at 16:30 (ET) on September 2, 2023. The funding rate settlement frequency has been adjusted from once every four hours to once every two hours. The specific arrangements are as follows:
Notice:
The funding rate cap multiplier for CYBERUSDT U-margin contracts has been increased from 0.75 to 1.
The maintenance margin will affect the funding rate cap. Funding rate cap = clamp (funding rate, -1*maintenance margin rate, 1*maintenance margin rate). For detailed calculation rules, please refer to the Binance Futures Funding Rate Introduction.
In order to protect user rights and reduce risks in extreme market conditions, Binance Futures may take additional protective measures for CYBERUSDT U-margined perpetual contracts without further announcement. Potential protective measures include but are not limited to adjusting leverage and margin (including the maximum leverage multiple of each tier, position limit, and maintenance margin rate), adjusting funding rates (including base rate, premium index, and fee cap), changing price index components, or using the "Latest Transaction Price Protection Mechanism" to update the mark price;
In the event of any discrepancy between the translated version and the original English version, the English version shall prevail.
illustrate:
Forced liquidation
Leverage and Margin for U-margin Contracts
Introduction to Binance Futures Funding Rates
Thank you for your support!
Binance Team
September 02, 2023