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Crypto Derivatives
Futures Contracts
COIN-M Futures Contracts
Leverage and Margin in Coin-Margined Futures Contracts
Binance
2020-06-11 07:38
On Binance Futures, traders can trade with leverage between 20-125x on our COIN-M futures contracts. The maximum amount of leverage available for users depends on the notional value of their position. Generally, the larger the position, the lower the leverage allowed. Thus, initial margin deposits are calculated using the leverage selected by the trader.
Note: In Cross Margin Mode, the margin can only be shared of same type of asset. Example: In Cross Margin Mode, all BTC in the COIN-M Futures wallet can be used for all BTC based contracts (including perpetual and delivery).
Initial Margin Rate = 1 / Leverage

BTCUSD COIN-M Futures Contracts

LeverageInitial Margin RateBTCUSD
Position
(Notional Value in BTC)
125x0.8%Max Position 10
100x1.0%Max Position 20
50x2.0%Max Position 30
20x5.0%Max Position 50
10x10.0%Max Position 100
5x20.0%Max Position 200
4x25.0%Max Position 400
3x33.3%Max Position 1,000
2x50.0%Above 1,000
1x100.0%Above 1,000

ETHUSD COIN-M Futures Contracts

LeverageInitial Margin RateETHUSD
Position
(Notional Value in ETH)
100x1%Max Position 100
75x1.30%Max Position 500
50x2%Max Position 1,000
20x5%Max Position 2,000
10x10%Max Position 4,000
5x20%Max Position 6,000
4x25%Max Position 8,000
3x33%Max Position 10,000
2x50%Above 10,000
1x100%Above 10,000

20x COIN-M Futures Contracts

LeverageInitial Margin RateADAUSD
Position
(Notional Value in ADA)
LINKUSD
Position
(Notional Value in LINK)
BNBUSD
Position
(Notional Value in BNB)
DOTUSD
Position
(Notional Value in DOT)
TRXUSD
Position
(Notional Value in TRX)
EOSUSD
Position
(Notional Value in EOS)
LTCUSD
Position
(Notional Value in LTC)
BCHUSD
Position
(Notional Value in BCH)
XRPUSD
Position
(Notional Value in XRP)
ETCUSD
Position
(Notional Value in ETC)
FILUSD
Position
(Notional Value in FIL)
EGLDUSD
Position
(Notional Value in EGLD)
Max Position
20x5.0%500,00010,0004,00050,0005,000,00050,0005,0001,000500,000500,00010,00010,000
10x10.0%1,000,00020,0008,000100,00010,000,000100,00010,0002,0001,000,0001,000,00020,00020,000
7x14.3%2,000,00040,00020,000200,00020,000,000200,00020,0004,0002,000,0002,000,000 Not Applicable Not Applicable
6x16.7%4,000,00080,00040,000500,00050,000,000500,00050,00010,0005,000,0005,000,00050,00050,000
5x20.0%8,000,000160,00080,0001,000,000100,000,0001,000,000100,00020,00010,000,00010,000,000100,000100,000
4x25.0%14,000,000280,000120,0001,500,000200,000,0001,500,000150,00030,00015,000,00015,000,000150,000150,000
3x33.3%20,000,000400,000200,0002,000,000300,000,0002,000,000200,00040,00020,000,00020,000,000200,000200,000
2x50.0%Above 20,000,000Above 400,000Above 200,000Above 2,000,000Above 300,000,000Above 2,000,000Above 200,000Above 40,000Above 20,000,000Above 20,000,000Above 200,000Above 200,000
1x100.0%Above 20,000,000Above 400,000Above 200,000Above 2,000,000Above 300,000,000Above 2,000,000Above 200,000Above 40,000Above 20,000,000Above 20,000,000Above 200,000Above 200,000
Note that the trader will first select his leverage (and fulfill its initial margin requirement), and then will open his positions. If the trader makes no selection on leverage, it will be set at 20x by default. The higher the leverage, the smaller the notional size the trader will have access to. The lower the leverage, the higher the notional size the trader can open.
The system will display the maximum allowable position size at different tiers of leverage as shown below.
Maintenance margin calculations are done via a “Tax Bracket” setup. This means that the maintenance margin is always calculated the same way, regardless of what leverage the trader selects. Moving from one bracket to another will not cause the earlier bracket to change its leverage. Again, as noted earlier, it is highly recommended for the trader to liquidate positions before the collateral falls below the Maintenance Margin to avoid auto-liquidation.

BTCUSD COIN-M Futures Contracts

LevelMaintenance
Margin Rate
Position Bracket
(Notional Value in BTC)
10.40%0 - 10
20.50%10 - 20
31.00%20 - 30
42.50%30 - 50
55.00%50 - 100
610.00%100 - 200
712.50%200 - 400
815.00%400 - 1,000
925.00%Above 1,000

ETHUSD COIN-M Futures Contracts

LevelMaintenance
Margin Rate
Position Bracket
(Notional Value in ETH)
10.50%0 - 100
20.65%100 - 500
31.00%500 - 1,000
42.50%1,000 - 2,000
55.00%2,000 - 4,000
610.00%4,000 - 6,000
712.50%6,000 - 8,000
815.00%8000 - 10,000
925.00%Above 10,000

20x COIN-M Futures Contracts

LevelMaintenance Margin RateADAUSD
Position
(Notional Value in ADA)
LINKUSD
Position
(Notional Value in LINK)
BNBUSD
Position
(Notional Value in BNB)
DOTUSD
Position
(Notional Value in DOT)
TRXUSD
Position
(Notional Value in TRX)
EOSUSD
Position
(Notional Value in EOS)
LTCUSD
Position
(Notional Value in LTC)
BCHUSD
Position
(Notional Value in BCH)
XRPUSD
Position
(Notional Value in XRP)
ETCUSD
Position
(Notional Value in ETC)
Max Position
10.65%500,00010,0004,00050,0005,000,00050,0005,0001,000500,000500,000
21.0%1,000,00020,0008,000100,00010,000,000100,00010,0002,0001,000,0001,000,000
32.5%2,000,00040,00020,000200,00020,000,000200,00020,0004,0002,000,0002,000,000
45.0%4,000,00080,00040,000500,00050,000,000500,00050,00010,0005,000,0005,000,000
510.0%8,000,000160,00080,0001,000,000100,000,0001,000,000100,00020,00010,000,00010,000,000
612.5%14,000,000280,000120,0001,500,000200,000,0001,500,000150,00030,00015,000,00015,000,000
715.0%20,000,000400,000200,0002,000,000300,000,0002,000,000200,00040,00020,000,00020,000,000
825.0%Above 20,000,000Above 400,000Above 200,000Above 2,000,000Above 300,000,000Above 2,000,000Above 200,000Above 40,000Above 20,000,000Above 20,000,000
LevelMaintenance Margin RateFILUSD
Position
(Notional Value in FIL)
11.0%10,000
22.5%20,000
35.0%50,000
410.0%100,000
512.5%150,000
615.0%200,000
725.0%Above 200,000
LevelMaintenance Margin RateEGLDUSD
Position
(Notional Value in EGLD
11.2%10,000
22.5%20,000
35.0%50,000
410.0%100,000
512.5%150,000
615.0%200,000
725.0%Above 200,000


Cost Required to Open a Position
Traders should ensure that they have a minimum fund in their wallet balance before opening a position. The cost required to open a position includes the initial margin and open loss (if any). Open loss occurs when the order price is unfavourable to the traders i.e. mark price is lower than the order price for a long order. Binance includes open loss as one of the costs required to open a position to avoid forced liquidation when the traders place the order. If open loss is not counted, there is a high probability that users’ position will get liquidated immediately once they have placed such order.
Cost = Initial Margin + Open Loss (if any)
Step 1: Calculate initial margin
Initial Margin
= Notional Value / Leverage Level
= [ (10*100 USD) / 9,800 USD ] / 20
= 0.0051 BTC


Step 2: Calculate Open Loss
Open Loss = Number of Contract x Contract Multiplier x Absolute Value {min[0, direction of order x (1 / order price - 1 /mark price)]}
*direction of order: 1 for long order;-1 for short order
Open loss of long order
= 10 x 100 USD x Absolute Value {min[0, 1 x (1 / 9,800 USD - 1 / 9,602.6 USD)]}
= 0.002097646 BTC
Open loss of short order
= 10 x 100 USD x Absolute Value {min[0, 1 x (1 / 9,800 USD - 1 / 9,602.6 USD)]}
= 0
Step 3: Calculate the cost required to open a position
Since the long order has open loss, thus the cost required to open a long position is higher as we need to take open loss into consideration besides the initial margin.
Cost Required to Open a Long Position
= 0.0051 BTC + 0.002096562 BTC
= 0.0072 BTC (difference due to rounding off)
Short order has no open loss, thus the cost required to open a short position is equivalent to the initial margin.
Cost Required to Open a Short Position
= 0.0051 BTC + 0 = 0.0051 BTC



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