Fellow Binancians,
Binance Futures has made the following adjustments to its Cross Collateral feature at 2021/01/04 12:00 PM (UTC). Please be noted that Binance Futures will adjust the Interest rate, grace period and borrow limits from time to time without prior announcement. Moving forwards, users will need to check proactively at the Cross Collateral Interest Rate page for the latest VIP fee structure details.
- For EUR, ETH, BTC and BUSD cross collateral, the base daily interest rate (i.e. for regular users) has been increased to 0.24%.
- For ETH cross collateral, the Grace Period has been reduced from 7 days to 3 days; for BUSD cross collateral, the Grace Period has been reduced from 14 days to 7 days.
Notes
- This Grace Period change is only applicable to loans made after 2021/01/04 12:00 PM (UTC). Grace Period is unchanged on existing loans that were taken before this date.
- For all loans, new interest rates will be charged if users do not repay taken loans within the Grace Period. For more details, please refer to How to Repay Loan Interest.
- Please carefully read and agree to the Cross Collateral Service Agreement and be aware of these risks and confirm to use this service.
Risk Warning:
Binance uses the Loan-To-Value (LTV) ratio to evaluate the risk level of your cross collaterals. Please be aware that in the event of extreme price movement, your collateralized assets will be liquidated if the LTV ratio reaches a certain threshold. For further details please refer to Loan-to-Value (LTV).
You are advised to monitor the LTV ratio of your cross collaterals proactively and to undertake preventive measures, including but not limited to:
- Adjusting the LTV to a lower level by adding additional collaterals to your account
- Enabling the auto top-up function by using the available asset in your spot wallet to add collaterals to your account
Binance uses commercially reasonable effort to send margin call notification to the users if the LTV ratio falls below a certain threshold. 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.
Thanks for your support!
Binance Team
2021/01/04
Trade on the go with Binanceās mobile crypto trading app:
Find us on
Telegram: https://t.me/binanceexchange
Twitter: https://twitter.com/binance
Facebook: https://www.facebook.com/binance
Instagram: https://www.instagram.com/binance
Note: This announcement was updated on 2022-03-14 to rename VIP 0 to regular accounts/users.