How to Use the One-Click Borrow & Repay Function
2019-08-19 10:26
All order types on Binance's Cross Margin and Isolated Margin platforms support the following three transaction modes:
● Ordinary: Place a buy/sell order using the existing crypto assets in the Margin Account. Under normal circumstances, you will manually borrow and repay on the Margin platform.
● Automatic borrowing: Place a buy/sell order by automatically borrowing crypto assets according to your maximum leverage. In short, it is equivalent to "borrowing + (ordinary) ordering".
- Note: Borrowing is considered complete when the order is successfully placed. It does not refer to the completion of order.
- Due to market movements, automatic borrowing may borrow a larger amount of assets to avoid slippage and increase the chance of completing the order.
- For manual borrowings, please click [Borrow] to complete the process. You can refer to How to Borrow Funds on Binance.
● Automatic repayment: After the buy/sell order is complete, the system will automatically use the received crypto assets to repay the asset's liabilities. In short, it is equivalent to "(ordinary) order + order filled + repayment".
- After the order is filled, the received crypto assets will be automatically used to repay the liability. If the balance is insufficient to cover the loan amount, the repayment will fail. The system will attempt to repay for a second time using 90% of the received crypto assets. If the second attempt also fails, the system will stop the repayment process and you need to repay manually. For more details on manual repayments, please refer to How to Repay Debts on Binance.
- You need to repay in the same asset you borrowed (e.g., borrowed BTC, repay in BTC) and the interest will be repaid before the principal.
Tips:
● To view assets, liabilities, and profits, click [Wallet] - [Margin Account].
● To check history of all borrowings/repayments, click [Orders] - [Margin Order] - [Order History / Borrowing History / Repayment History] - [Cross Margin / Isolated Margin].
● If an automatic borrowing order is canceled, a corresponding interest may still be generated. You can check your borrowing history by visiting the [Borrowing History] page.
Why can't I select the [Normal] mode on the Margin mode?
To enhance user experience, the transaction mode menu bar will be invisible for selected users. Instead, these users will find an upgraded interface for margin trading. They may borrow funds automatically when the balance is insufficient for their orders.
Original Interface | Upgraded Interface |
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With the upgraded interface, the system will automatically calculate the maximum amount of funds available based on the amount of funds in your Margin account (Maximum amount of funds available = Principal + Maximum amount of funds you can borrow).
When placing an order, if the amount of funds available to use is greater than the principal, the system will automatically borrow on your behalf to execute the order. Please check all the details carefully before placing your order.