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Leverage and Margin in Coin-Margined Futures Contracts
Binance
2020-06-11 07:38
*Updates to Maintenance Margin of Binance Futures Coin-Margined Contracts (2021-02-22)
To better serve our users and prevent market risk, Binance Futures will update the Maintenance Margin of the following contracts periodically starting from this week. The adjustment is expected to be completed in the next 10 weeks. The next implementation time are 2021-04-13 9:00 AM (UTC) and 2021-04-15 9:00 AM (UTC).
  • BTCUSD Perpetual 0625
  • ETHUSD Perpetual 0625
  • LINKUSD Perpetual, LINKUSD Quarterly 0924, LINKUSD Quarterly 0625
  • BNBUSD Perpetual, BNBUSD Quarterly 0924, BNBUSD Quarterly 0625
  • DOTUSD Perpetual, DOTUSD Quarterly 0924, DOTUSD Quarterly 0625
  • ADAUSD Perpetual, ADAUSD Quarterly 0924, ADAUSD Quarterly 0625
  • LTCUSD Perpetual, LTCUSD Quarterly 0924, LTCUSD Quarterly 0625
  • BCHUSD Perpetual, BCHUSD Quarterly 0924, BCHUSD Quarterly 0625
  • XRPUSD Perpetual, XRPUSD Quarterly 0924, XRPUSD Quarterly 0625
  • FILUSD Perpetual
  • EOSUSD Perpetual
  • TRXUSD Perpetual
  • ETCUSD Perpetual
  • EGLDUSD Perpetual
The effective time and details of the maintenance margin adjustment will be updated on this page in real-time without prior announcement. Please pay close attention and check actively. Position holders will receive a message reminder via Email, Notification and SMS 24-hours before the implementation time.
It is important to note that the maintenance margin change will directly affect liquidation price, users who held the existing position of the above Coin-margined Contracts will be affected. To avoid being liquidated (i.e. margin ratio hits 100%), please add more margin to your COIN-M Futures account or reduce your positions. It is recommended to control the margin ratio below 90%.
Risk Warning:
  • Binance uses commercially reasonable effort to send notifications to the users, there may be instances where the users fail to receive the notification on time due to network delay, computer system failures and other force majeure. Binance will not be liable for any loss that might arise from your use of this feature. Please use at your own discretion and risk.
  • Please actively monitor your account status and evaluate the risk level of your account. It is strongly recommended that users add margin or reduce their positions to avoid liquidation before the account margin balance drops to the maintenance margin level.
  • Futures trading carries a substantial risk and the possibility of both significant profits and losses. Past gains are not indicative of future returns. All of your margin balance may be liquidated in the event of extreme price movement. The information here should not be regarded as financial or investment advice from Binance. All trading strategies are used at your discretion and your own risk. Binance will not be liable to you for any loss that might arise from your use of Futures.
Maintenance Margin Ratio Update - Effective time 2021-04-13 9:00 AM (UTC)
LeverageMaintenance Margin Rate (After Change)
EGLDUSD Perpetual
Position
(Notional Value in EGLD)
FILUSD Perpetual
Position
(Notional Value in FIL)
12.50%
Position ≤ 500
Position ≤ 5,000
25.00%
500 < Position ≤ 1,000
5,000 < Position ≤ 10,000
35.00%
1,000 < Position ≤ 2,000
10,000 < Position ≤ 15,000
410.00%
2,000 < Position ≤ 4,000
15,000 < Position≤ 20,000
512.50%
4,000 < Position ≤ 8,000
20,000 < Position ≤ 25,000
615.00%
8,000 < Position ≤ 10,000
25,000 < Position≤ 30,000
725.00%
Position > 10,000
Position > 30,000
LeverageMaintenance Margin Rate (After Change)
ETCUSD Perpetual
Position
(Notional Value in ETC)
TRXUSD Perpetual
Position
(Notional Value in TRX)
EOSUSD Perpetual
Position
(Notional Value in EOS)
BNBUSD Perpetual, 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)
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)
DOTUSD Perpetual, DOTUSD Quarterly 0625, DOTUSD Quarterly 0924
Position
(Notional Value in DOT)
BCHUSD Perpetual, BCHUSD Quarterly 0625,BCHUSDQuarterly 0924
Position
(Notional Value in BCH)
12.50%Position ≤ 50,000头寸 ≤ 5,000,000
Position ≤ 10,000
Position ≤ 2,000Position ≤ 5,000Position ≤ 500,000Position ≤ 500,000Position ≤ 10,000
Position ≤ 25,000
Position ≤ 500
25.00%50,000 < Position ≤ 100,000Position ≤ 5,000,000
10,000 < Position ≤ 50,000
2,000 < Position ≤ 4,0005,000 < Position ≤ 10,000500,000 < Position ≤ 1,000,000500,000 < Position ≤ 1,000,00010,000 < Position ≤ 20,000
25,000 < Position ≤ 50,000
500 < Position ≤ 1,000
35.00%100,000 < Position ≤ 200,0005,000,000 < Position ≤ 10,000,000
50,000 < Position ≤ 100,000
4,000 < Position ≤ 10,00010,000 < Position ≤ 20,0001,000,000 < Position ≤ 2,000,0001,000,000 < Position ≤ 1,500,00020,000 < Position ≤ 40,000
50,000 < Position ≤ 100,000
1,000 < Position ≤ 1,500
45.00%200,000 < Position ≤ 500,00010,000,000 < Position ≤ 20,000,000
100,000 < Position ≤ 150,000
10,000 < Position ≤ 20,00020,000 < Position ≤ 50,0002,000,000 < Position ≤ 4,000,0001,500,000 < Position ≤ 2,000,00040,000 < Position ≤ 60,000
100,000 < Position ≤ 150,000
1,500 < Position ≤ 2,000
510.00%500,000 < Position ≤ 1,000,00020,000,000 < Position ≤ 50,000,000
150,000 < Position ≤ 200,000
20,000 < Position ≤ 40,00050,000 < Position ≤ 100,0004,000,000 < Position ≤ 8,000,0002,000,000 < Position ≤ 3,000,00060,000 < Position ≤ 80,000
150,000 < Position ≤ 200,000
2,000 < Position ≤ 2,500
612.50%1,000,000 < Position ≤ 1,500,00050,000,000 < Position ≤ 100,000,000
200,000 < Position ≤ 250,000
40,000 < Position ≤ 60,000100,000 < Position ≤ 150,0008,000,000 < Position ≤ 14,000,0003,000,000 < Position ≤ 5,000,00080,000 < Position ≤ 100,000
200,000 < Position ≤ 300,000
2,500 < Position ≤ 3,000
715.00%1,500,000 < Position ≤ 2,000,000100,000,000 < Position ≤ 200,000,000
250,000 < Position ≤ 500,000
60,000 < Position ≤ 100,000150,000 < Position ≤ 200,00014,000,000 < Position ≤ 20,000,0005,000,000 < Position ≤ 10,000,000100,000 < Position ≤ 150,000
300,000 < Position ≤ 500,000
3,000 < Position ≤ 5,000
825.00%Position > 2,000,000200,000,000 < Position ≤ 300,000,000
Position > 500,000
Position > 100,000Position > 200,000Position > 20,000,000Position > 10,000,000Position > 150,000
Position > 500,000
Position > 5,000
LevelMaintenance Margin Ratio(After Adjustment)
BTCUSD Quarterly 0625
Position
(Notional Value in BTC)
11.00%Position ≤ 10
21.20%10 < Position ≤ 20
32.00%20 < Position ≤ 30
42.50%30 < Position ≤ 50
55.00% 50 < Position ≤ 100
610.00%100 < Position ≤ 200
712.50%200 < Position ≤ 400
815.00%400 < Position ≤ 1,000
925.00%1,000 < Position ≤ 1,500
1050.00%Position > 1,500
LevelMaintenance Margin Ratio(After Adjustment)
ETHUSD Quarterly 0625
Position
(Notional Value in ETH)
11.00%Position ≤ 100
21.35%100 < Position ≤ 500
32.00%500 < Position ≤ 1,000
42.50%1,000 < Position ≤ 2,000
55.00%2,000 < Position ≤ 4,000
610.00%4,000 < Position ≤ 6,000
712.50%6,000 < Position ≤ 8,000
815.00%8,000 < Position ≤ 10,000
925.00%10,000 < Position ≤ 15,000
1050.00%Position > 15,000

Initial Margin Rate

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 Perpetual 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
BTCUSD Quarterly 0625 Contracts
LeverageInitial Margin RateBTCUSD
Position
(Notional Value in BTC)
50x2.00%Max Position 10
30x3.33%Max Position 20
25x4.00%Max Position 30
20x5.00%Max Position 50
10x10.00%Max Position 100
5x20.00%Max Position 200
4x25.00%Max Position 400
3x33.33%Max Position 1,000
2x50.00%Above 1,000
1x100.0%Above 1,000
BTCUSD Quarterly 0924 Contracts
LeverageInitial Margin RateBTCUSD
Position
(Notional Value in BTC)
50x4.00%Max Position 10
20x5.00%Max Position 30
10x10.00%Max Position 50
5x20.00%Max Position 100
4x25.00%Max Position 200
3x33.33%Max Position 500
2x50.00%Max Position 1,000
1x100.00%Above 1,000

ETHUSD Perpetual 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

ETHUSD Quarterly 0625 Contracts

LeverageInitial Margin RateETHUSD
Position
(Notional Value in ETH)
50x2.00%Max Position 100
30x3.33%Max Position 500
25x4.00%Max Position 1,000
20x5.00%Max Position 2,000
10x10.00%Max Position 4,000
5x20.00%Max Position 6,000
4x25.00%Max Position 8,000
3x33.33%Max Position 10,000
2x50.00%Above 10,000
1x100.00%Above 10,000
ETHUSD Quarterly 0924 Contracts
LeverageInitial Margin RateBTCUSD
Position
(Notional Value in BTC)
50x4.00%Max Position 100
20x5.00%Max Position 500
10x10.00%Max Position 1,000
5x20.00%Max Position 2,000
4x25.00%Max Position 4,000
3x33.33%Max Position 6,000
2x50.00%Max Position 10,000
1x100.00%Above 10,000
LeverageInitial margin
EGLDUSD Perpetual
Position
(Notional Value in EGLD)
FILUSD Perpetual
Position
(Notional Value in FIL)
11x-20x
5.00%
Position ≤ 500
Position ≤ 5,000
7-10x
10.00%
500 < Position ≤ 1,000
5,000 < Position ≤ 10,000
6x
16.67%
1,000 < Position ≤ 2,000
10,000 < Position ≤ 15,000
5x
20.00%
2,000 < Position ≤ 4,000
15,000 < Position≤ 20,000
4x
25.00%
4,000 < Position ≤ 8,000
20,000 < Position ≤ 25,000
3x
33.33%
8,000 < Position ≤ 10,000
25,000 < Position≤ 30,000
2x
50.00%
Position > 10,000
Position > 30,000
1x
100.00%
Position ≤ 500
Position ≤ 5,000
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, 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)
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)
DOTUSD Perpetual, DOTUSD Quarterly 0625, DOTUSD Quarterly 0924
Position
(Notional Value in DOT)
BCHUSD Perpetual, BCHUSD Quarterly 0625,BCHUSDQuarterly 0924
Position
(Notional Value in BCH)
11x-20x5.00%Position ≤ 50,000头寸 ≤ 5,000,000
Position ≤ 10,000
Position ≤ 2,000Position ≤ 5,000Position ≤ 500,000Position ≤ 500,000Position ≤ 10,000
Position ≤ 25,000
Position ≤ 500
8x-10x10.00%50,000 < Position ≤ 100,000Position ≤ 5,000,000
10,000 < Position ≤ 50,000
2,000 < Position ≤ 4,0005,000 < Position ≤ 10,000500,000 < Position ≤ 1,000,000500,000 < Position ≤ 1,000,00010,000 < Position ≤ 20,000
25,000 < Position ≤ 50,000
500 < Position ≤ 1,000
7x14.29%100,000 < Position ≤ 200,0005,000,000 < Position ≤ 10,000,000
50,000 < Position ≤ 100,000
4,000 < Position ≤ 10,00010,000 < Position ≤ 20,0001,000,000 < Position ≤ 2,000,0001,000,000 < Position ≤ 1,500,00020,000 < Position ≤ 40,000
50,000 < Position ≤ 100,000
1,000 < Position ≤ 1,500
6x16.67%200,000 < Position ≤ 500,00010,000,000 < Position ≤ 20,000,000
100,000 < Position ≤ 150,000
10,000 < Position ≤ 20,00020,000 < Position ≤ 50,0002,000,000 < Position ≤ 4,000,0001,500,000 < Position ≤ 2,000,00040,000 < Position ≤ 60,000
100,000 < Position ≤ 150,000
1,500 < Position ≤ 2,000
5x20.00%500,000 < Position ≤ 1,000,00020,000,000 < Position ≤ 50,000,000
150,000 < Position ≤ 200,000
20,000 < Position ≤ 40,00050,000 < Position ≤ 100,0004,000,000 < Position ≤ 8,000,0002,000,000 < Position ≤ 3,000,00060,000 < Position ≤ 80,000
150,000 < Position ≤ 200,000
2,000 < Position ≤ 2,500
4x25.00%1,000,000 < Position ≤ 1,500,00050,000,000 < Position ≤ 100,000,000
200,000 < Position ≤ 250,000
40,000 < Position ≤ 60,000100,000 < Position ≤ 150,0008,000,000 < Position ≤ 14,000,0003,000,000 < Position ≤ 5,000,00080,000 < Position ≤ 100,000
200,000 < Position ≤ 300,000
2,500 < Position ≤ 3,000
3x33.33%1,500,000 < Position ≤ 2,000,000100,000,000 < Position ≤ 200,000,000
250,000 < Position ≤ 500,000
60,000 < Position ≤ 100,000150,000 < Position ≤ 200,00014,000,000 < Position ≤ 20,000,0005,000,000 < Position ≤ 10,000,000100,000 < Position ≤ 150,000
300,000 < Position ≤ 500,000
3,000 < Position ≤ 5,000
2x50.00%Position > 2,000,000200,000,000 < Position ≤ 300,000,000
Position > 500,000
Position > 100,000Position > 200,000Position > 20,000,000Position > 10,000,000Position > 150,000
Position > 500,000
Position > 5,000
1x100.00%Position > 2,000,000200,000,000 < Position ≤ 300,000,000
Position > 500,000
Position > 100,000Position > 200,000Position > 20,000,000Position > 10,000,000Position > 150,000
Position > 500,000
Position > 5,000

25x COIN-M Futures Contracts

LeverageInitial Margin RateDOGEUSD
Position
(Notional Value in DOGE)
Max Position
25x4.0%1,000,000
20x5.0%5,000,000
10x10.0%25,000,000
5x20.0%50,000,000
4x25.0%100,000,000
2x50.0%200,000,000
1x100.0%Above 200,000,000
25x COIN-M Futures Contracts : DOGEUSD

20x COIN-M Futures Contracts

LeverageInitial Margin RateUNIUSD
Position
(Notional Value in UNI)
THETAUSD
Position
(Notional Value in THETA)
XLMUSD
Position
(Notional Value in XLM)
Max Position Max Position Max Position
20x5.0%10,00010,000200,000
10x10.0%20,00020,000400,000
5x20.0%30,00030,000600,000
4x25.0%50,00050,0001,000,000
3x33.33%80,00080,0001,500,000
2x50.0% 100,000 100,0002,000,000
1x100.0%Above 100,000Above 100,000Above 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), 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 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

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

BTCUSD Quarterly 0924 Contracts

LevelMaintenance
Margin Rate
Position Bracket
(Notional Value in BTC)
11.00%0 - 10
22.50%10 - 30
35.00%30 - 50
410.00%50 - 100
512.50%100 - 200
615.00%200 - 500
725.00%500 - 1,000
850.00%Above 1,000

ETHUSD Perpetual

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

ETHUSD Quarterly 0924 Contracts

LevelMaintenance
Margin Rate
Position Bracket
(Notional Value in ETH)
11.00%0 - 100
22.50%100 - 500
35.00%500 - 1,000
410.00%1,000 - 2,000
512.50%2,000 - 4,000
615.00%4,000 - 6,000
725.00%6,000 - 10,000
850.00%Above 10,000

25x COIN-M Futures Contracts

LevelMaintenance Margin RateDOGEUSD
Position
(Notional Value in DOGE)
Max Position
11.20%1,000,000
22.50%5,000,000
35.00%25,000,000
410.00%50,000,000
512.50%100,000,000
625.0%200,000,000
750.0%Above 200,000,000

25x COIN-M Futures Contracts : DOGEUSD

20x COIN-M Futures Contracts

LevelMaintenance Margin RateUNIUSD
Position
(Notional Value in UNI)
THETAUSD
Position
(Notional Value in THETA)
XLMUSD
Position
(Notional Value in XLM)
Max Position Max Position Max Position
12.50%10,00010,000200,000
25.00%20,00020,000400,000
310.00%30,00030,000600,000
412.50%50,00050,0001,000,000
515.00%80,00080,0001,500,000
625.00% 100,000 100,0002,000,000
750.00%Above 100,000Above 100,000Above 2,000,000
20x COIN-M Futures Contracts :UNIUSD, THETAUSD, XLMUSD


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


관련 기사
Coin-Margined Futures Contracts and Contract Specifications