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How to Use the One-Click Borrow & Repay Function
2019-08-19 10:26
One-click Borrow and one-click Repay functions are now available on Binance.
One-Click Borrow
The system will calculate the maximum balance according to the equity in your margin account. (Maximum balance= Equity+Maximum Borrow Amount). If the order amount is more than your equity, the system will borrow assets automatically.
For example: If you transfer 1 BTC to your margin account and you click "Borrow" to sell the BTC, you will be able to sell 3 BTC in total (calculated according to the max leverage in the account). You can choose to place a limit order or market order. During this process, you do not need to go to your margin account and borrow the amount manually. Our system will borrow automatically if you use this function.
One-Click Repay
If you use this function to place an order, after completing it, the system will automatically use the funds from the order to repay the loan. (Interest will be repaid first before the borrowed amount.) Automatic refund will only be executed after the order is completed. If the funds are not sufficient to repay the loan, the system will repay 90% of it automatically, leaving the rest to be refunded manually by the user. If the funds are still not enough to repay the 90% of the loan, the user will have to check and charge his isolated margin account to refund the loan manually.
For example: If you borrow 2 BTC and you sell them for USDT, when you want to buy back the BTC for repayment using this one-click Repay function, the system will automatically repay the BTC you borrowed after the buy order is filled. You can choose to place a limit order or market order and the automatic repayment will only be done after the order is completely filled.
*If the balance in the margin wallet is not sufficient for placing the order, the system will automatically borrow the required amount to place the order. Once the order is completed, the system will calculate interest immediately. If the order is canceled and it is not filled at all, the system will automatically repay the corresponding interest and borrowed amount.
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