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Futures Contracts
COIN-Ⓜ Futures Contracts
Leverage and Margin in Coin-Margined Futures Contracts
Binance
2020-06-11 07:38

Initial Margin Rate

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.
Please note that in Cross Margin Mode, the margin can only be shared with the same type of asset. For example, all BTC in the COIN-M Futures Wallet can be used for all BTC based contracts (including perpetual and delivery) in Cross Margin Mode.
Initial Margin Rate = 1 / Leverage

BTCUSD Perpetual Contracts

Leverage
Initial Margin Rate
BTCUSD
Position
(Notional Value in BTC)
125x
0.80%
Max Position 5
100x
1.00%
Max Position 10
50x
2.00%
Max Position 20
20x
5.00%
Max Position 50
10x
10.00%
Max Position 100
5x
20.00%
Max Position 200
4x
25.00%
Max Position 400
3x
33.33%
Max Position 1,000
2x
50.00%
Max Position 1,500
1x
100.00%
Above 1,500

BTCUSD Quarterly 0625 Contracts

Leverage
Initial Margin Rate
BTCUSD
Position
(Notional Value in BTC)
50x
2.00%
Max Position 10
30x
3.33%
Max Position 20
25x
4.00%
Max Position 30
20x
5.00%
Max Position 50
10x
10.00%
Max Position 100
5x
20.00%
Max Position 200
4x
25.00%
Max Position 400
3x
33.33%
Max Position 1,000
2x
50.00%
Max Position 1,500
1x
100.0%
Above 1,500

BTCUSD Quarterly 0924 Contracts

Leverage
Initial Margin Rate
BTCUSD
Position
(Notional Value in BTC)
50x
2.00%
Max Position 5
20x
5.00%
Max Position 30
10x
10.00%
Max Position 50
5x
20.00%
Max Position 100
4x
25.00%
Max Position 200
3x
33.33%
Max Position 500
2x
50.00%
Max Position 1,000
1x
100.00%
Above 1,000

ETHUSD Perpetual Contracts

Leverage
Initial Margin Rate
ETHUSD
Position
(Notional Value in ETH)
100x
1.00%
Max Position 15
75x
1.33%
Max Position 100
50x
2.00%
Max Position 250
20x
5.00%
Max Position 500
10x
10.00%
Max Position 1,000
5x
20.00%
Max Position 1,500
4x
25.00%
Max Position 2,000
3x
33.33%
Max Position 5,000
2x
50.00%
Max Position 7,500
1x
100.00%
Above 7,500

ETHUSD Quarterly 0625 Contracts

Leverage
Initial Margin Rate
ETHUSD
Position
(Notional Value in ETH)
50x
2.00%
Max Position 50
30x
3.33%
Max Position 150
25x
4.00%
Max Position 250
20x
5.00%
Max Position 500
10x
10.00%
Max Position 1,000
5x
20.00%
Max Position 1,500
4x
25.00%
Max Position 2,000
3x
33.33%
Max Position 3,000
2x
50.00%
Max Position 5,000
1x
100.00%
Above 5,000

ETHUSD Quarterly 0924 Contracts

Leverage
Initial Margin Rate
BTCUSD
Position
(Notional Value in BTC)
50x
2.00%
Max Position 50
20x
5.00%
Max Position 250
10x
10.00%
Max Position 500
5x
20.00%
Max Position 1,000
4x
25.00%
Max Position 2,000
3x
33.33%
Max Position 3,000
2x
50.00%
Max Position 5,000
1x
100.00%
Above 5,000
Leverage
Initial margin
EGLDUSD Perpetual
Position
(Notional Value in EGLD)
FILUSD Perpetual
Position
(Notional Value in FIL)
11x-20x
5.00%
Max Position 500
Max Position 5,000
7-10x
10.00%
Max Position 1,000
Max Position 15,000
6x
16.67%
Max Position 2,000
Max Position 20,000
5x
20.00%
Max Position 4,000
Max Position 30,000
4x
25.00%
Max Position 8,000
Max Position 50,000
3x
33.33%
Max Position 10,000
Max Position 75,000
1-2x
50.00%
Position > 10,000
Position > 75,000
LeverageInitial margin
ETCUSD Perpetual
Position
(Notional Value in ETC)
TRXUSD Perpetual
Position
(Notional Value in TRX)
EOSUSD Perpetual
Position
(Notional Value in EOS)
BNBUSD Perpetual
Position
(Notional Value in BNB)
XRPUSD Perpetual, XRPUSD Quarterly 0625, XRPUSD Quarterly 0924
Position
(Notional Value in XRP)
LINKUSD Perpetual, LINKUSD Quarterly 0625, LINKUSDQuarterly 0924
Position
(Notional Value in LINK)
BCHUSD Perpetual, BCHUSD Quarterly 0625, BCHUSDQuarterly 0924
Position
(Notional Value in BCH)
11x-20x5.00%
Max Position 25,000
Max Position 5,000,000
Max Position 30,000
Max Position 2,000
Max Position 500,000
Max Position 10,000
Max Position 500
8x-10x10.00%
Max Position 50,000
Max Position 10,000,000
Max Position 150,000
Max Position 4,000
Max Position 1,000,000
Max Position 20,000
Max Position 1,500
7x14.29%
Max Position 100,000
Max Position 20,000,000
Max Position 300,000
Max Position 10,000
Max Position 1,500,000
Max Position 40,000
Max Position 2,000
6x16.67%
Max Position 250,000
Max Position 50,000,000
Max Position 450,000
Max Position 20,000
Max Position 2,000,000
Max Position 60,000
Max Position 3,000
5x20.00%
Max Position 500,000
Max Position 100,000,000
Max Position 600,000
Max Position 40,000
Max Position 3,000,000
Max Position 80,000
Max Position 5,000
4x25.00%
Max Position 750,000
Max Position 200,000,000
Max Position 750,000
Max Position 60,000
Max Position 5,000,000
Max Position 100,000
Max Position 7,500
3x33.33%
Max Position 1,000,000
Max Position 300,000,000
Max Position 1,500,000
Max Position 100,000
Max Position 10,000,000
Max Position 150,000
Max Position 10,000
1-2x50.00%
Above 1,000,000
Above 300,000,000
Above 1,500,000
Above 100,000
Above 10,000,000
Above 150,000
Above 10,000
LeverageInitial margin
BNBUSD Quarterly 0625, BNBUSD Quarterly 0924
Position
(Notional Value in BNB)
LTCUSD Perpetual, LTCUSD Quarterly 0625, LTCUSD Quarterly 0924
Position
(Notional Value in LTC)
ADAUSD Perpetual, ADAUSD Quarterly 0625, ADAUSD Quarterly 0924
Position
(Notional Value in ADA)
DOTUSD Perpetual, DOTUSD Quarterly 0625, DOTUSD Quarterly 0924
Position
(Notional Value in DOT)
11x-20x5.00%
Max Position 1,000
Max Position 2,500
Max Position 250,000
Max Position 25,000
8x-10x10.00%
Max Position 2,000
Max Position 5,000
Max Position 500,000
Max Position 50,000
7x14.29%
Max Position 5,000
Max Position 10,000
Max Position 1,000,000
Max Position 70,000
6x16.67%
Max Position 10,000
Max Position 25,000
Max Position 2,000,000
Max Position 80,000
5x20.00%
Max Position 20,000
Max Position 50,000
Max Position 4,000,000
Max Position 100,000
4x25.00%
Max Position 30,000
Max Position 75,000
Max Position 7,000,000
Max Position 150,000
3x33.33%
Max Position 40,000
Max Position 100,000
Max Position 10,000,000
Max Position 250,000
2x50.00%
Max Position 50,000
Max Position 125,000
Max Position 15,000,000
Max Position 500,000
1x100.00%
Above 50,000
Above 125,000
Above 15,000,000
Above 500,000

25x COIN-M Futures Contracts

Leverage
Initial Margin Rate
DOGEUSD
Position
(Notional Value in DOGE)
25x
4.0%
Max Position 500,000
20x
5.0%
2,500,000
10x
10.0%
5,000,000
5x
20.0%
10,000,000
4x
25.0%
20,000,000
2x
50.0%
50,000,000
1x
100.0%
Above 50,000,000
25x COIN-M Futures Contracts : DOGEUSD

20x COIN-M Futures Contracts

Leverage
Initial Margin Rate
UNIUSD
Position
(Notional Value in UNI)
THETAUSD
Position
(Notional Value in THETA)
XLMUSD
Position
(Notional Value in XLM)
20x
5.0%
Max Position 10,000
Max Position 10,000
Max Position 200,000
10x
10.0%
Max Position 20,000
Max Position 20,000
Max Position 400,000
5x
20.0%
Max Position 30,000
Max Position 30,000
Max Position 600,000
4x
25.0%
Max Position 50,000
Max Position 50,000
Max Position 1,000,000
3x
33.33%
Max Position 80,000
Max Position 80,000
Max Position 1,500,000
2x
50.0%
Max Position 100,000
Max Position 100,000
Max Position 2,000,000
1x
100.0%
Above 100,000
Above 100,000
Above 2,000,000
20x COIN-M Futures Contracts : UNIUSD, THETAUSD, XLMUSD
Note that the trader will first select his leverage (and fulfill its initial margin requirement) before opening his positions. If the trader does not select the 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 Rate

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 Perpetual

Level
Maintenance
Margin Rate
Position Bracket
(Notional Value in BTC)
1
0.40%
Max Position 5
2
0.50%
Max Position 10
3
1.00%
Max Position 20
4
2.50%
Max Position 50
5
5.00%
Max Position100
6
10.00%
Max Position 200
7
12.50%
Max Position 400
8
15.00%
Max Position 1,000
9
25.00%
Max Position 1,500
10
50.00%
Above 1,500

BTCUSD Quarterly 0924 Contracts

Level
Maintenance
Margin Rate
Position Bracket
(Notional Value in BTC)
1
1.00%
Max Position 5
2
2.50%
Max Position 30
3
5.00%
Max Position 50
4
10.00%
Max Position 100
5
12.50%
Max Position 200
6
15.00%
Max Position 500
7
25.00%
Max Position 1,000
8
50.00%
Above 1,000

ETHUSD Perpetual

Level
Maintenance
Margin Rate
Position Bracket
(Notional Value in ETH)
1
0.50%
Max Position 15
2
0.65%
Max Position 100
3
1.00%
Max Position 250
4
2.50%
Max Position 500
5
5.00%
Max Position 1,000
6
10.00%
Max Position 1,500
7
12.50%
Max Position 2,000
8
15.00%
Max Position 5,000
9
25.00%
Max Position 7,500
10
50.00%
Above 7,500

ETHUSD Quarterly 0924 Contracts

Level
Maintenance
Margin Rate
Position Bracket
(Notional Value in ETH)
1
1.00%
Max Position 50
2
2.50%
Max Position 250
3
5.00%
Max Position 500
4
10.00%
Max Position 1,000
5
12.50%
Max Position 2,000
6
15.00%
Max Position 3,000
7
25.00%
Max Position 5,000
8
50.00%
Above 5,000
LeverageMaintenance Margin Rate
ETCUSD Perpetual
Position
(Notional Value in ETC)
TRXUSD Perpetual
Position
(Notional Value in TRX)
EOSUSD Perpetual
Position
(Notional Value in EOS)
BNBUSD Perpetual
Position
(Notional Value in BNB)
XRPUSD Perpetual, XRPUSD Quarterly 0625, XRPUSD Quarterly 0924
Position
(Notional Value in XRP)
LINKUSD Perpetual, LINKUSD Quarterly 0625, LINKUSDQuarterly 0924
Position
(Notional Value in LINK)
BCHUSD Perpetual, BCHUSD Quarterly 0625, BCHUSDQuarterly 0924
Position
(Notional Value in BCH)
11x-20x2.50%
Max Position 25,000
Max Position 5,000,000
Max Position 30,000
Max Position 2,000
Max Position 500,000
Max Position 10,000
Max Position 500
8x-10x5.00%
Max Position 50,000
Max Position 10,000,000
Max Position 150,000
Max Position 4,000
Max Position 1,000,000
Max Position 20,000
Max Position 1,500
7x5.00%
Max Position 100,000
Max Position 20,000,000
Max Position 300,000
Max Position 10,000
Max Position 1,500,000
Max Position 40,000
Max Position 2,000
6x5.00%
Max Position 250,000
Max Position 50,000,000
Max Position 450,000
Max Position 20,000
Max Position 2,000,000
Max Position 60,000
Max Position 3,000
5x10.00%
Max Position 500,000
Max Position 100,000,000
Max Position 600,000
Max Position 40,000
Max Position 3,000,000
Max Position 80,000
Max Position 5,000
4x12.50%
Max Position 750,000
Max Position 200,000,000
Max Position 750,000
Max Position 60,000
Max Position 5,000,000
Max Position 100,000
Max Position 7,500
3x15.00%
Max Position 1,000,000
Max Position 300,000,000
Max Position 1,500,000
Max Position 100,000
Max Position 10,000,000
Max Position 150,000
Max Position 10,000
1-2x25.00%
Above 1,000,000
Above 300,000,000
Above 1,500,000
Above 100,000
Above 10,000,000
Above 150,000
Above 10,000
LeverageMaintenance Margin Rate
BNBUSD Quarterly 0625, BNBUSD Quarterly 0924
Position
(Notional Value in BNB)
LTCUSD Perpetual, LTCUSD Quarterly 0625, LTCUSD Quarterly 0924
Position
(Notional Value in LTC)
ADAUSD Perpetual, ADAUSD Quarterly 0625, ADAUSD Quarterly 0924
Position
(Notional Value in ADA)
DOTUSD Perpetual, DOTUSD Quarterly 0625, DOTUSD Quarterly 0924
Position
(Notional Value in DOT)
11x-20x2.50%
Max Position 1,000
Max Position 2,500
Max Position 250,000
Max Position 25,000
8x-10x5.00%
Max Position 2,000
Max Position 5,000
Max Position 500,000
Max Position 50,000
7x5.00%
Max Position 5,000
Max Position 10,000
Max Position 1,000,000
Max Position 70,000
6x5.00%
Max Position 10,000
Max Position 25,000
Max Position 2,000,000
Max Position 80,000
5x10.00%
Max Position 20,000
Max Position 50,000
Max Position 4,000,000
Max Position 100,000
4x12.50%
Max Position 30,000
Max Position 75,000
Max Position 7,000,000
Max Position 150,000
3x15.00%
Max Position 40,000
Max Position 100,000
Max Position 10,000,000
Max Position 250,000
2x25.00%
Max Position 50,000
Max Position 125,000
Max Position 15,000,000
Max Position 500,000
1x50.00%
Above 50,000
Above 125,000
Above 15,000,000
Above 500,000

25x COIN-M Futures Contracts

Level
Maintenance Margin Rate
DOGEUSD
Position
(Notional Value in DOGE)
1
1.20%
Max Position 500,000
2
2.50%
Max Position 2,500,000
3
5.00%
Max Position 5,000,000
4
10.00%
Max Position 10,000,000
5
12.50%
Max Position 20,000,000
6
25.0%
Max Position 50,000,000
7
50.0%
Above50,000,000
25x COIN-M Futures Contracts : DOGEUSD

20x COIN-M Futures Contracts

Level
Maintenance Margin Rate
UNIUSD
Position
(Notional Value in UNI)
THETAUSD
Position
(Notional Value in THETA)
XLMUSD
Position
(Notional Value in XLM)
1
2.50%
Max Position 10,000
Max Position 10,000
Max Position 200,000
2
5.00%
Max Position 20,000
Max Position 20,000
Max Position 400,000
3
10.00%
Max Position 30,000
Max Position 30,000
Max Position 600,000
4
12.50%
Max Position 50,000
Max Position 50,000
Max Position 1,000,000
5
15.00%
Max Position 80,000
Max Position 80,000
Max Position 1,500,000
6
25.00%
Max Position 100,000
Max Position 100,000
Max Position 2,000,000
7
50.00%
Above 100,000
Above 100,000
Above 2,000,000
20x COIN-M Futures Contracts :UNIUSD, THETAUSD, XLMUSD

Cost Required to Open a Position

Traders should ensure that they have the minimum required amount of funds in their wallet 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
Related Articles
Coin-Margined Futures Contracts and Contract Specifications
Mark Price in Coin-Margined Futures
About Quarterly Futures Contract
Delivery & Settlement of Quarterly Futures
Asset Conversion Function