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Frequently Asked Questions on Binance Portfolio Margin Program

2022-04-18 06:16

1. What Is the Portfolio Margin Account Max Withdrawal Rule?

Portfolio margin account withdrawal limitation is as follows:
  • Single coin withdrawal cannot exceed the coin’s wallet balance (Wallet balance in the Cross Margin account is “spotAsset”, in USDⓈ-M is “futuresAsset_UM”, in COIN-M is “futuresAsset_CM”);
  • Max withdraw (calculated in USD) can not exceed ∑Equity-1.2*MM; Maxwithdraw = max(account Equity -1.2*MM, 0)
  • Cross Margin, USDⓈ-M and COIN-M Wallets can only submit a single withdrawal request. You can not submit a second request before the first one is confirmed by the system.
Please note that if the collateral rate of the asset is zero, you can withdraw all of the asset’s wallet balance.

2. What Is the Portfolio Margin Account Max Loan Rule?

Portfolio margin account loan limitation is as follows:
  • VirtualMaxLoan = (Leverage-1)*max(Maxwithdrawal - 1/(Leverage-1)*VirtualSpotLoan, 0)
[VirtualSpotLoan: USD value of all loan assets in this account]
  • MaxLoan= min(VirtualMaxLoan/assetIndexPrice, MaxBorrow-CurrentLoan)
[MaxLoan: max loan by asset value]

3. Can I Modify Existing Orders?

COIN-Margin Futures API Order modification is currently not supported under the Binance Portfolio Margin Program.

4. Can Asset Balance Be Negative? Will There Be Any Auto-Exchange?

Yes, users can have negative balances on their Cross Margin, USDⓈ-M Futures and Coin-M Futures accounts as long as their uniMMR does not fall under the liquidation threshold (105%). There’s no auto-exchange in portfolio margin account.
Example:
Wallet Balance: 200k USDT in USDⓈ-M wallet
Position: ETH short position in COIN-M Futures
When price moves up,
Position closed, result in -10ETH negative balance in COIN-M Futures
Wallet Balance: 200k USDT in USDⓈ-M wallet and -10ETH in COIN-M Futures
Offset negative balance: transfer 10 ETH from spot wallet to COIN-M Futures

5. Can Order Placement Trigger Liquidation? What If I Place an Order Without Wallet Balance?

Placing an order will not impact the uniMMR.
However, order filling/execution will impact the uniMMR and may take it under 105%, which would automatically trigger the liquidation process.
You can refer to the dedicated FAQ section for more details about uniMMR calculation.
*Fat finger:
No initial margin check, when wallet balance equals zero, client can still place market order, executed trigger liquidation and negative balance. In this case, client should be liability for the deficit.

6. Is Spot Wallet Included in the Portfolio Margin Program?

The Binance Portfolio Margin Account currently includes consolidated Cross Margin, USDⓈ-M Futures and COIN-M Futures accounts.
Spot Account is not included at the moment.

7. Do Loan/Borrow Rules on Margin Account Still Apply?

Loan rules on the Cross Margin Account remain effective under the Binance Portfolio Margin Program.
Borrowing fees apply even if the borrowed amount on Cross Margin Account is offset by equity USDⓈ-M Futures and COIN-M Futures futures accounts.

8. Can Partial Liquidation Occur?

Partial Liquidation (closing positions gradually in ascending order) does not apply under the Binance Portfolio Margin Program. Once liquidation is triggered, the liquidation process will not stop until liquidation is completed.

9. What Is the Wallet Transfer Rule of Portfolio Margin Account?

Users can transfer assets from Spot Wallet to the USDⓈ-M Futures and COIN-M Futures wallets first, and then transfer assets from the USDⓈ-M Futures and COIN-M Futures wallets to your Cross Margin wallet. Assets are not transferable from the Cross Margin wallet to USDⓈ-M Futures and COIN-M Futures wallets, also not transferable between USDⓈ-M Futures and COIN-M Futures wallets.