Exchange
Blockchain and crypto asset exchange
Academy
Blockchain and crypto education
Broker
Trading terminal solutions
Charity
Blockchain charity foundation
Cloud
Enterprise exchange solutions
DEX
Fast and secure decentralized digital asset exchange
Labs
Incubator for top blockchain projects
Launchpad
Token Launch Platform
Research
Institutional-grade analysis and reports
Trust Wallet
Binance's official crypto wallet
Buy Crypto
Markets
Scan to Download App IOS & Android
Download
English
USD
Support Center
FAQ
Crypto Derivatives
Futures Contracts
USDⓈ-M Futures Contracts
How to Calculate Liquidation Price of USDT-Margined Futures
Binance
2020-08-14 02:14
Below is the liquidation price formula for USDT-Ⓜ futures contract (LP1) under cross margin mode:
where
WBWallet Balance
TMM1
Maintenance Margin of all other contracts, excluding Contract 1
If it is an isolated margin mode, then TMM=0,UPNL=0
UPNL1
Unrealized PNL of all other contracts, excluding Contract 1
If it is an isolated margin mode, then UPNL=0
cumBMaintenance Amount of BOTH position (one-way mode)
cumLMaintenance amount of LONG position (hedge mode)
cumSMaintenance amount of SHORT position (hedge mode)
Side1BOTHDirection of BOTH position, 1 as long position, -1 as short position
Position1BOTH Absolute value of BOTH position size (one-way mode)
EP1BOTHEntry Price of BOTH position (one-way mode)
Position1LONGAbsolute value of LONG position size (hedge mode)
EP1LONGEntry Price of LONG position (hedge mode)
Position1SHORT Absolute value of SHORT position size (hedge mode)
EP1SHORTEntry Price of SHORT position (hedge mode)
MMBMaintenance margin rate of BOTH position (one-way mode)
MMLMaintenance margin rate of LONG position (hedge mode)
MMSMaintenance margin rate of SHORT position (hedge mode)
Notes:
*In hedge mode, both long and short positions of the same contract are sharing the same liquidation price in cross margin mode. If both long and short positions of the same contract are in isolated mode, the positions will have two different liquidation prices depending on the margin allocated to the positions.
Further details:
1. Maintenance Margin Rate
You can find the “Maintenance Margin Rate” from the table below with the position value in USDT. For example, if the position of USDT-margined BTC/USDT Contract is 264,000 USDT, then the maintenance margin rate would be 1% (or 0.01).
Note:
If your position (calculated at the liquidation price) and the current position (calculated at the opening price) are of different levels, then you must substitute (i.e. to calculate at the liquidation price) the maintenance margin rate and the maintenance margin amount of the position level, to recalculate the liquidation price.
2. About Maintenance Amount
You can find the “Maintenance Amount” from the table below with the position value in USDT. For example, if the position of USDT-margined BTC/USDT Contract is 500,000 USDT, then the maintenance amount would be 1,300 USDT.
Maintenance Amount formula
= [ Floor of Position Bracket on Level n * difference between Maintenance Margin Rate on Level n and Maintenance Margin Rate on Level n-1) ] + Maintenance Amount on Level n-1
For example, the Maintenance Amount on Level 5
= 250,000 * (1% - 0.5%) + 50 USDT
= 1,300 USDT
Note:
  • Under cross margin, same ticker/symbol, both long and short position share the same liquidation price except isolated mode
  • If the liquidation price is less than 0, the UI display would be “--”

125x USDT-Margined Perpetual Contract (BTCUSDT)

LevelPosition Bracket
(Notional Value in USDT)
Maintenance
Margin Rate
Maintenance
Amount (USDT)
1First 50,0000.4%0
250,000 - 250,0000.5%50
3250,000 - 1,000,0001.0%1,300
41,000,000 - 5,000,0002.5%16,300
55,000,000 - 20,000,0005.0%141,300
620,000,000 - 50,000,00010.0%1,141,300
750,000,000 - 100,000,00012.5%2,391,300
8100,000,000 - 200,000,00015.0%4,891,300
9Greater than 200,000,00025.0%24,891,300

100x USDT-Margined Perpetual Contract (ETHUSDT)

LevelPosition Bracket
(Notional Value in USDT)
Maintenance
Margin Rate
Maintenance
Amount (USDT)
1First 10,0000.5%0
210,000 - 100,0000.65%15
3100,000 - 500,0001.0%365
4500,000 - 1,000,0002.0%5,365
51,000,000 - 2,000,0005.0%35,365
62,000,000 - 5,000,00010.0%135,365
75,000,000 - 10,000,00012.5%260,365
810,000,000 - 20,000,00015.0%510,365
9Greater than 20,000,00025.0%2,510,365

75x USDT-Margined Perpetual Contract

LevelPosition Bracket
(Notional Value in USDT)
Maintenance Margin RateMaintenance
Amount (USDT)
1First 10,0000.65%0
210,000 - 50,0001.00%35
350,000 - 250,0002.00%535
4250,000 - 1,000,0005.00%8,035
51,000,000 - 2,000,00010.00%58,035
62,000,000 - 5,000,00012.50%108,035
75,000,000 - 10,000,00015.00%233,035
8Greater 10,000,00025.00%1,233,035
75x USDT-Margined Perpetual Contract:
* ADAUSDT, BNBUSDT, DOTUSDT, EOSUSDT, ETCUSDT, LINKUSDT, LTCUSDT, TRXUSDT, XLMUSDT, XMRUSDT, XRPUSDT, XTZUSDT, BCHUSDT

50x USDT-Margined Perpetual Contract

LevelPosition Bracket
(Notional Value in USDT)
Maintenance
Margin Rate
Maintenance
Amount (USDT)
1First 5,0001.0%0
25,000 - 25,0002.5%75
325,000 - 100,0005.0%700
4100,000 - 250,00010.0%5,700
5250,000 - 1,000,00012.5%11,950
6Greater 1,000,00050.0%386,950
50x USDT-Margined Perpetual Contract
* AAVEUSDT, ALGOUSDT, ALPHAUSDT, ATOMUSDT, AVAXUSDT, AXSUSDT, BALUSDT, BANDUSDT, BATUSDT, BELUSDT, BLZUSDT, BZRXUSDT, COMPUSDT, CRVUSDT, CVCUSDT, DASHUSDT, DEFIUSDT, DOGEUSDT, EGLDUSDT, ENJUSDT, FILUSDT, FLMUSDT, FTMUSDT, HNTUSDT, ICXUSDT, IOSTUSDT, IOTAUSDT, KAVAUSDT, KNCUSDT, KSMUSDT, LRCUSDT, MATICUSDT, MKRUSDT, NEARUSDT, NEOUSDT, OCEANUSDT, OMGUSDT, ONTUSDT, QTUMUSDT, RENUSDT, RLCUSDT, RSRUSDT, RUNEUSDT, SNXUSDT, SOLUSDT, SRMUSDT, STORJUSDT, SUSHIUSDT, SXPUSDT, THETAUSDT, TOMOUSDT, TRBUSDT, UNIUSDT, VETUSDT, WAVESUSDT, YFIIUSDT, YFIUSDT, ZECUSDT, ZILUSDT, ZRXUSDT, ZENUSDT, SKLUSDT, SKLUSDT, GRTUSDT, 1INCHUSDT
Calculate liquidation price in One-way & Cross margin mode
Example 1: Liquidation price of BTCUSDT perpetual contract
When the parameters are as follows:
WB10.72
TMM1= 199.96*1*0.65% = 1.29
UPNL10.43
cumB0
Side1BOTH-1
Position1BOTH0.005
EP1BOTH9451.53
MMB0.004
Liquidation price of BTCUSDT perpetual contract
=[10.72 - 1.29 + 0.43 + 0 -(-1*0.005*9,451.53)]/[(0.005*0.004) - (-1*0.005)]
= 11,378.02 USDT (rounding)
Example 2: Liquidation price of ETHUSDT perpetual contract
When the parameters are as follows:
WB10.72
TMM1= 9,459.51*0.005*0.4% = 0.1892
UPNL1-0.04
cumB0
Side1BOTH1
Position1BOTH1
EP1BOTH199.53
MMB0.0065
Liquidation price of ETHUSDT perpetual contract
=[10.72 - 0.19 - 0.04 + 0 -(1*1*199.53)]/[(1*0.0065) - (1*1)]
= 190.27 USDT

Have more questions?submit a request
Related Articles
Contract Specifications of USDⓈ-M Futures