Frequently Asked Questions on Binance Portfolio Margin Program

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2022-04-18 06:16

1. What is the maximum withdrawal rule of the Portfolio Margin Account?

The Portfolio Margin Account withdrawal rule is as follows:

For single coin withdrawals, you cannot exceed the coin’s wallet balance. You can use API to check the respective wallet balance: Cross Margin Wallet (spotAsset), USDⓈ-M Wallet (futuresAsset_UM), Coin-M Wallet (futuresAsset_CM).
Maximum withdraw amount (calculated in USD) can not exceed ∑Equity - 1.2 * MM; Maxwithdraw = max (account Equity - 1.2 * MM, 0)
You can only submit one withdrawal request in the Cross Margin, USDⓈ-M, and Coin-M Wallets. You cannot submit a second request before the system confirms the first one.

Please note that if the collateral rate of the asset is zero, you can withdraw all of the asset’s wallet balance.

2. What is the maximum loan rule of the Portfolio Margin Account?

The Portfolio Margin Account loan limitation is as follows:

VirtualMaxLoan = (Leverage - 1) * max (Maxwithdraw - 1 / (Leverage - 1) * VirtualSpotLoan, 0)

[VirtualSpotLoan: USD value of all loan assets in this account]

MaxLoan = min (VirtualMaxLoan / assetIndexPrice, MaxBorrow - CurrentLoan)

[MaxLoan: max loan by asset value]

3. Can I modify existing orders?

Currently, the Binance Portfolio Margin Program does not support Coin-M Futures API order modification.

4. Can asset balance be negative? Will Auto-Exchange occur?

Yes, you can have a negative balance on your Cross Margin, USDⓈ-M Futures, and Coin-M Futures Wallets as long as your uniMMR does not fall under the liquidation threshold (105%). Auto-exchange does not apply in the Portfolio Margin Account.

For example:

You have a balance of 200,000 USDT in the USDⓈ-M Wallet, and an ETH short position in Coin-M Futures.

Let’s assume the ETH price goes up, incurring a loss in your short ETH position, and resulting in a -10 ETH negative balance in the Coin-M Futures Wallet after closing your short position.
Your New Wallet Balance would then be 200,000 USDT in the USDⓈ-M Wallet and -10 ETH in the Coin-M Futures Wallet, with a uniMMR over 105%.
To offset the negative balance, you need to transfer 10 ETH from the Spot Wallet to the Coin-M Futures Wallet.

5. Is there an interest rate charged to Portfolio Margin users having a negative balance?

Portfolio Margin users with a negative balance under -200,000 USDT in their USDs-M wallet will be charged negative interest.

The interest rate charged over the 200,000 USDT negative balance threshold fluctuates and is based on the market rate
Interested will be charged on the Cross-Margin Wallet* of the user on a daily basis from the user’s USDT balance, as per the following formula:
Interest = principal * daily interestRate
The interest charge will only apply to negative USDT balances in USDⓈ-M Futures Wallets falling below the predetermined threshold. Other token assets held in USDⓈ-M Futures Wallets, as well as holdings in Margin Wallets and COIN-M Wallets, will not be affected.

For instance, let’s assume you are trading under Portfolio Margin mode, with the following:

a negative balance on your USDs-M Wallet of -300,000 USDT,
a positive balance of 100 BTC on your COIN-M wallet offsetting your USDs-M negative balance
a healthy uniMMR fluctuating above 150%.

Your negative USDs-M balance below the -200,000 USDT threshold will incur interest payment, which will be: 300,000 USDT * current daily interest rate.
(charged on your Cross-Margined wallet balance on a daily basis)

Please note that Portfolio Margin users can query the current interest rate (daily and yearly) as well as their negative balance interest history via API using the following endpoints respectively:

GET /sapi/v1/portfolio/interest-history
GET /sapi/v1/portfolio/interest-rate

You can refer to the API Interface FAQ section for more details.

6. Can order placement trigger liquidation? What if I place an order with a wallet balance of 0?

Placing an order will not impact the uniMMR.

However, order filling/execution will impact the uniMMR and may take it under 105%, which would automatically trigger the liquidation process.

You can refer to the dedicated FAQ section for more details about uniMMR calculation.

*For fat finger errors:

As there is no initial margin check, you can still place a market order when your equity balance equals zero. If it triggers liquidation and leads to a negative balance, you shall be solely liable for the deficit.

7. Is Spot Wallet included in the Portfolio Margin Program?

No. Currently, the Binance Portfolio Margin Account only includes consolidated Cross Margin, USDⓈ-M Futures, and Coin-M Futures Wallets.

8. Do the Margin Wallet loan/borrow rules apply under the Binance Portfolio Margin Program?

Loan rules on the Cross Margin Wallet remain effective under the Binance Portfolio Margin Program. However, borrowing fees apply even if the borrowed amount on the Cross Margin Wallet is offset by equity USDⓈ-M Futures and Coin-M Futures Wallets.

9. Can partial liquidation occur under the Binance Portfolio Margin Program?

Partial Liquidation (closing positions gradually in ascending order) does not apply under the Binance Portfolio Margin Program. Once liquidation is triggered, the liquidation process will not stop until it is completed.

10. What is the wallet transfer rule under the Portfolio Margin Program?

Under the Portfolio Margin Program, specific wallet transfer rules will apply:

You cannot directly transfer assets from the Cross Margin Wallet to the USDⓈ-M Futures Wallet and the Coin-M Futures Wallet.
You cannot directly transfer assets between the USDⓈ-M Futures Wallet and the Coin-M Futures Wallet.

11. What is the actual equity (“actualEquity”) of the Portfolio Margin Account?

“actualEquity” is the user’s account equity without collateral rate, calculated as follows:

actualEquity = ∑(marginAsset - marginLoan + futuresAsset + futuresUnrealPnL)*assetIndexPrice

Please note that actualEquity is expressed in USD value.

Preguntas frecuentes

Frequently Asked Questions on Binance Portfolio Margin Program