Dear User:
Binance Futures will update the leverage and margin tiers of YGGUSDT and API3USDT U-margin perpetual contracts at 01:30 (ET) on August 7, 2023. Users' existing positions before the update 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:
Latest leverage and margin tiers:
YGGUSDT (U-based perpetual contract)
API3USDT (U-based perpetual contract)
Notice:
The funding rate cap multiplier for API3USDT U-margin contracts has been raised 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.
To protect user rights and reduce risks in extreme market conditions, Binance Futures may take additional protective measures for YGGUSDT and API3USDT U-margin perpetual contracts without further announcement. Potential protective measures include but are not limited to adjusting leverage and margin (including the maximum leverage multiple, position limit, and maintenance margin rate for each level), 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
August 07, 2023