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 | ||
| Leverage | Initial Margin Rate | BTCUSD Position (Notional Value in BTC) |
| 125x | 0.8% | Max Position 10 |
| 100x | 1.0% | Max Position 20 |
| 50x | 2.0% | Max Position 30 |
| 20x | 5.0% | Max Position 50 |
| 10x | 10.0% | Max Position 100 |
| 5x | 20.0% | Max Position 200 |
| 4x | 25.0% | Max Position 400 |
| 3x | 33.3% | Max Position 1,000 |
| 2x | 50.0% | Above 1,000 |
| 1x | 100.0% | Above 1,000 |
ETHUSD COIN-M Futures Contracts | ||
| Leverage | Initial Margin Rate | ETHUSD Position (Notional Value in ETH) |
| 100x | 1% | Max Position 100 |
| 75x | 1.30% | Max Position 500 |
| 50x | 2% | Max Position 1,000 |
| 20x | 5% | Max Position 2,000 |
| 10x | 10% | Max Position 4,000 |
| 5x | 20% | Max Position 6,000 |
| 4x | 25% | Max Position 8,000 |
| 3x | 33% | Max Position 10,000 |
| 2x | 50% | Above 10,000 |
| 1x | 100% | Above 10,000 |
20x COIN-M Futures Contracts | |||||||||||||
| Leverage | Initial Margin Rate | ADAUSD 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 | |||||||||||||
| 20x | 5.0% | 500,000 | 10,000 | 4,000 | 50,000 | 5,000,000 | 50,000 | 5,000 | 1,000 | 500,000 | 500,000 | 10,000 | 10,000 |
| 10x | 10.0% | 1,000,000 | 20,000 | 8,000 | 100,000 | 10,000,000 | 100,000 | 10,000 | 2,000 | 1,000,000 | 1,000,000 | 20,000 | 20,000 |
| 7x | 14.3% | 2,000,000 | 40,000 | 20,000 | 200,000 | 20,000,000 | 200,000 | 20,000 | 4,000 | 2,000,000 | 2,000,000 | Not Applicable | Not Applicable |
| 6x | 16.7% | 4,000,000 | 80,000 | 40,000 | 500,000 | 50,000,000 | 500,000 | 50,000 | 10,000 | 5,000,000 | 5,000,000 | 50,000 | 50,000 |
| 5x | 20.0% | 8,000,000 | 160,000 | 80,000 | 1,000,000 | 100,000,000 | 1,000,000 | 100,000 | 20,000 | 10,000,000 | 10,000,000 | 100,000 | 100,000 |
| 4x | 25.0% | 14,000,000 | 280,000 | 120,000 | 1,500,000 | 200,000,000 | 1,500,000 | 150,000 | 30,000 | 15,000,000 | 15,000,000 | 150,000 | 150,000 |
| 3x | 33.3% | 20,000,000 | 400,000 | 200,000 | 2,000,000 | 300,000,000 | 2,000,000 | 200,000 | 40,000 | 20,000,000 | 20,000,000 | 200,000 | 200,000 |
| 2x | 50.0% | Above 20,000,000 | Above 400,000 | Above 200,000 | Above 2,000,000 | Above 300,000,000 | Above 2,000,000 | Above 200,000 | Above 40,000 | Above 20,000,000 | Above 20,000,000 | Above 200,000 | Above 200,000 |
| 1x | 100.0% | Above 20,000,000 | Above 400,000 | Above 200,000 | Above 2,000,000 | Above 300,000,000 | Above 2,000,000 | Above 200,000 | Above 40,000 | Above 20,000,000 | Above 20,000,000 | Above 200,000 | Above 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 | ||
| Level | Maintenance Margin Rate | Position Bracket (Notional Value in BTC) |
| 1 | 0.40% | 0 - 10 |
| 2 | 0.50% | 10 - 20 |
| 3 | 1.00% | 20 - 30 |
| 4 | 2.50% | 30 - 50 |
| 5 | 5.00% | 50 - 100 |
| 6 | 10.00% | 100 - 200 |
| 7 | 12.50% | 200 - 400 |
| 8 | 15.00% | 400 - 1,000 |
| 9 | 25.00% | Above 1,000 |
ETHUSD COIN-M Futures Contracts | ||
| Level | Maintenance Margin Rate | Position Bracket (Notional Value in ETH) |
| 1 | 0.50% | 0 - 100 |
| 2 | 0.65% | 100 - 500 |
| 3 | 1.00% | 500 - 1,000 |
| 4 | 2.50% | 1,000 - 2,000 |
| 5 | 5.00% | 2,000 - 4,000 |
| 6 | 10.00% | 4,000 - 6,000 |
| 7 | 12.50% | 6,000 - 8,000 |
| 8 | 15.00% | 8000 - 10,000 |
| 9 | 25.00% | Above 10,000 |
20x COIN-M Futures Contracts | |||||||||||
| Level | Maintenance Margin Rate | ADAUSD 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 | |||||||||||
| 1 | 0.65% | 500,000 | 10,000 | 4,000 | 50,000 | 5,000,000 | 50,000 | 5,000 | 1,000 | 500,000 | 500,000 |
| 2 | 1.0% | 1,000,000 | 20,000 | 8,000 | 100,000 | 10,000,000 | 100,000 | 10,000 | 2,000 | 1,000,000 | 1,000,000 |
| 3 | 2.5% | 2,000,000 | 40,000 | 20,000 | 200,000 | 20,000,000 | 200,000 | 20,000 | 4,000 | 2,000,000 | 2,000,000 |
| 4 | 5.0% | 4,000,000 | 80,000 | 40,000 | 500,000 | 50,000,000 | 500,000 | 50,000 | 10,000 | 5,000,000 | 5,000,000 |
| 5 | 10.0% | 8,000,000 | 160,000 | 80,000 | 1,000,000 | 100,000,000 | 1,000,000 | 100,000 | 20,000 | 10,000,000 | 10,000,000 |
| 6 | 12.5% | 14,000,000 | 280,000 | 120,000 | 1,500,000 | 200,000,000 | 1,500,000 | 150,000 | 30,000 | 15,000,000 | 15,000,000 |
| 7 | 15.0% | 20,000,000 | 400,000 | 200,000 | 2,000,000 | 300,000,000 | 2,000,000 | 200,000 | 40,000 | 20,000,000 | 20,000,000 |
| 8 | 25.0% | Above 20,000,000 | Above 400,000 | Above 200,000 | Above 2,000,000 | Above 300,000,000 | Above 2,000,000 | Above 200,000 | Above 40,000 | Above 20,000,000 | Above 20,000,000 |
| Level | Maintenance Margin Rate | FILUSD Position (Notional Value in FIL) |
| 1 | 1.0% | 10,000 |
| 2 | 2.5% | 20,000 |
| 3 | 5.0% | 50,000 |
| 4 | 10.0% | 100,000 |
| 5 | 12.5% | 150,000 |
| 6 | 15.0% | 200,000 |
| 7 | 25.0% | Above 200,000 |
| Level | Maintenance Margin Rate | EGLDUSD Position (Notional Value in EGLD |
| 1 | 1.2% | 10,000 |
| 2 | 2.5% | 20,000 |
| 3 | 5.0% | 50,000 |
| 4 | 10.0% | 100,000 |
| 5 | 12.5% | 150,000 |
| 6 | 15.0% | 200,000 |
| 7 | 25.0% | 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