Introduction to Binance Cross Margin Pro

What is Cross Margin Pro?

Binance Cross Margin Pro is a product for advanced traders. It supports up to 10x leverage and requires reduced Initial and Maintenance Margins. Please refer to the step-by-step guide in How to Activate the Cross Margin Pro Mode on Binance? for more details.

Mode	Cross Margin Classic	Cross Margin Pro
Margin Type	Cross Margin You’re able to switch to the Cross Margin Pro mode if the Collateral Margin Level in the Classic mode is above 1.25.	Cross Margin You’re able to switch back to Cross Margin Classic if the Collateral Margin Level (in the Classic mode) is above the Initial Risk Ratio.
Leverage	Fixed at account level, 3x or 5x	Leverage and borrow amount are set according to the loanable coin’s risk bracket. The maximum leverage is 10x. Assets with higher leverage have lower borrowing limits, whereas those with lower leverage possess higher limits.
Margin Level	Total Asset / (Total Liability + Interest)	∑Net Equity / ∑Required Maintenance Margin *Please refer to the calculation example under the “Example” section.
Liquidation Margin Level Trigger Threshold	Margin Level ≤ 1.1 (Cross Margin 3x and 5x leverage)	Margin Level ≤ 1.0 (Cross Margin Pro mode)
Borrowing Limits	Tiered, based on VIP level	Tiered, based on VIP level and tiered position Due to a lower Initial Margin requirement, the Cross Margin Pro mode enables higher capital efficiency.
Collateral Margin Level Impact	Only the maximum borrowing amount and the maximum transfer-out amount are impacted. Liquidation is not affected by asset haircut.	Only the maximum borrowing amount and the maximum transfer-out amount are impacted. Liquidation is not affected by asset haircut or collateral margin level.

How are the Cross Margin Pro Margin Level and Collateral Margin Level calculated?

Parameter	Calculation	Description
Cross Margin Pro Margin Level	∑Net Equity / ∑Maintenance Margin	The account’s total net equity divided by the total Maintenance Margin.
∑Net Equity	∑Asset - ∑(Liability + Interest)	Total asset value minus total liability and outstanding interest of the Cross Margin account (in USDT). *Total refers to the summation over all tokens.
∑Maintenance Margin	∑Loan amount in USDT * Maintenance Margin Rate Note: The Maintenance Margin Rate (MMR) for a particular token can be found here.	Total amount of Maintenance Margin (in USDT). *Total refers to the summation over all liability tokens.
∑Initial Margin	∑ Loan Amount * Initial Margin Rate Initial Margin Rate (IMR) = 1 / (Leverage - 1)	Total amount of Initial Margin (in USDT). *Total refers to the summation over all liability tokens.
Available Margin	Max (∑Net Collateral - ∑Initial Margin, 0)	Available margin is used to determine the additional maximum borrowing amount.
Collateral Margin Level	∑Collateral Value / Total Liability	Collateral value refers to the asset value with haircut.
∑Net Collateral	∑Collateral Value - ∑(Liability + Interest)	Collateral Value refers to the asset value with haircut.

Impacts of Margin Level and Collateral Margin Level in Cross Margin Pro

Collateral Margin Level	Transfer	Convert to Cross Margin Classic (5x)
Collateral Margin Level > 2	Y	Y
1.25 ≤ Collateral Margin Level ≤ 2	N	Y
Collateral Margin Level < 1.25	N	Y/N*

*You can switch back to 5x if your Margin Level (without haircut) in the Classic mode is higher than the Initial Risk Ratio (1.5 for Cross Margin 3x and 1.25 for Cross Margin 5x).

Note: In the Cross Margin Pro mode, the amount you can borrow depends on your “available margin”.

Margin Level	Trade	Margin Call	Liquidation
1.5 ≤ Margin Level	Y	N	N
1< Margin Level ≤ 1.5	Y	Y	N
Margin Level ≤ 1.0	N	N	Y

Example 1: A single liability coin with a single leverage tier

Note: The illustration below is a purely hypothetical example to demonstrate how Margin Level and Collateral Margin Level are calculated, as well as their impacts, in the Cross Margin Pro mode.

To calculate the maximum amount that can be borrowed for a specific liability coin and the Margin Level in the Cross Margin Pro mode, both the tiered collateral ratio and the Liability Coin Leverage table are required. Suppose the hypothetical collateral ratio and the liability coin maintenance/initial margin rate are as follows. Also, assume that the Interest is zero.

Liability Coin	Tier	Max. Leverage	Liability Value in USDT	Maintenance Margin Rate	Initial Margin Rate
BTC	1	10x	0 - 1,000,000	2%	11.12%
	2	8x	1,000,000 - 2,000,000	3%	14.29%
	3	5x	2,000,000 - 3,000,000	4%	25%
	4	3x	3,000,000 - 4,000,000	5%	50%
USDT	1	10x	0 - 1,000,000	3%	11.12%
	2	8x	1,000,000 - 2,000,000	4%	14.29%
	3	5x	2,000,000 - 3,000,000	5%	25%
	4	3x	3,000,000 - 4,000,000	6%	50%

Collateral Coin	Tier	Amount	Collateral Ratio
BTC, USDT	1	0 - 1,000,000	1
	2	1,000,000 - 2,000,000	0.975
	3	2,000,000 - 3,000,000	0.95
	4	3,000,000 - 4,000,000	0.9
	5	4,000,000 - 5,000,000	0.85

Suppose under the current scenario, User A initially has 1 BTC, and has already borrowed 1 BTC.

User A’s Coin Holding	Position	Liability	Index Price
BTC	2	1	10,000
USDT	0	0	1

The below table demonstrates, in the current scenario and after reaching the maximum borrowable amount of USDT, how the Cross Margin Pro mode’s Margin Level, Collateral Margin Level, and maximum borrowable amount in USDT are calculated, as well as their impacts.

Basic Parameters for Further Calculations

		Borrow 10,000 USDT	Borrow 89,928 USDT (The Max. Borrowable Amount)
In USDT	∑Asset	= 2 * 10,000 = 20,000 USDT	= 2 * 10,000 + 79,928 = 99,928 USDT (2 BTC and 79,928 USDT)
	∑Collateral Value	= 2 * 10,000 * 100% = 20,000 USDT	= 2 * 10,000 * 100% + 79,928 * 100% = 99,928 USDT
	Total Liability	= 10,000 USDT	= 10,000 + 79,928 = 89,928 USDT (1 BTC and 79,928 USDT)
	∑Net Equity	= 20,000 - 10,000 = 10,000 USDT	= 99,928 - 89,928 = 10,000 USDT
	∑Initial Margin	= 10,000 * 11.12% = 1,112 USDT	= 10,000 * 11.12% + 79,928 * 11.12% = 10,000 USDT
	∑Maintenance Margin	= 10,000 * 2% = 200 USDT	= 10,000 * 2% + 79,928 * 3% = 2,597.84 USDT

Margin Level Calculation

Margin Level	= ∑Net Equity / ∑Maintenance Margin = 10,000 / 200 = 50	= ∑Net Equity / ∑Maintenance Margin = 10,000 / (10,000 * 2% + 79,928 * 3%) = 3.849
Margin Level Health	Margin Level > MCR The account is low risk	Margin Level > MCR The account is low risk

Collateral Margin Level Calculation

Collateral Margin Level	= ∑Collateral Value / Total Liability = 20,000/10,000=2	= ∑Collateral Value / Total Liability = 99,928 / (10,000 + 79,928) = 1.11
Transfer Status	Collateral Margin Level = 2 The user is restricted from transferring funds out of the margin account.	Collateral Margin Level < 2 The user is restricted from transferring funds out of the margin account.
Max Transfer Out Amount	0	0
Convert to Cross Margin Classic (5X)	Yes Collateral Margin Level > 1.25	No Since ∑Asset/∑Liability = 1.19, Collateral Margin Level < 1.25

Available Margin Amount and Borrowable Amount

Available Margin Amount	Available Margin Amount will be displayed at the wallet page. = Max (∑Net Collateral - ∑Initial Margin, 0) = Max (∑Collateral Value - ∑Liability - ∑Initial Margin, 0) = Max ( 20,000 - 10,000 - 1,112, 0) = 8,888 USDT	Available Margin Amount will be displayed at the wallet page. = Max (∑Net Collateral - ∑Initial Margin, 0) = Max (∑Collateral Value - ∑Liability - ∑Initial Margin, 0) =Max (99,928 - 89,928 - 10,000, 0) = 0 USDT
Additional BTC max borrowable amount	= Available Margin Amount / Initial Margin Rate = 8,888 / 11.12% = 79,928 USDT With the same asset amount, the borrowable amount is higher than in the Cross Margin Classic mode.	= Available Margin Amount / Initial Margin Rate = 0

Example 2: Liability coins impacted by leverage tiering and collateral haircuts

Note: The illustration below is a purely hypothetical example to demonstrate how Margin Level and Collateral Margin Level are calculated, as well as their impacts, in the Cross Margin Pro mode.

To calculate the maximum amount that can be borrowed for a specific liability coin and the Margin Level in the Cross Margin Pro mode, both the tiered collateral ratio and the liability maintenance rate are required. Suppose the hypothetical collateral ratio and the liability coin maintenance/initial margin rate are as follows. Also, assume that the Interest is zero.

Liability Coin	Tier	Max. Leverage	Liability Value in USDT	Maintenance Margin Rate	Initial Margin Rate
BTC	1	10x	0 - 1,000,000	2%	11.12%
	2	8x	1,000,000 - 2,000,000	3%	14.29%
	3	5x	2,000,000 - 3,000,000	4%	25%
	4	3x	3,000,000 - 4,000,000	5%	50%
	5	2x	4,000,000 - 5,000,000	8%	100%
ETH	1	8x	0 - 2,000,000	5%	14.29%
	2	5x	2,000,000 - 3,000,000	8%	25%
	3	3x	3,000,000 - 4,000,000	10%	50%

Collateral Coin	Tier	Amount	Collateral Ratio
BTC, USDT	1	0 - 1,000,000	1
	2	1,000,000 - 2,000,000	0.975
	3	2,000,000 - 3,000,000	0.95
	4	3,000,000 - 4,000,000	0.9
	5	4,000,000 - 5,000,000	0.85
ETH	1	0 - 1,100,000	1
	2	1,100,000 - 2,100,000	0.975
	3	2,100,000 - 3,100,000	0.95
	4	3,100,000 - 4,100,000	0.9
	5	4,100,000 - 5,100,000	0.85

Suppose under the current scenario, User A initially has 49 BTC and 49 ETH, and has already borrowed 50 BTC and 50 ETH.

User A’s Coin Holding	Position	Liability	Index Price
BTC	99	50	10,000
ETH	99	50	1,000

The below table demonstrates, in the current scenario and after reaching the maximum borrowable amount of BTC, how the Cross Margin Pro Margin Level, Collateral Margin Level, and maximum borrowable amount in USDT are calculated, as well as their impacts.

Basic Parameters for Further Calculations

		Initial Borrow of 50 BTC and 50 ETH	Additional Borrow of 222.50 BTC (The Max. Borrowable Amount)
In USDT	∑Asset	= 99 * 10,000 + 99 * 1,000 = 1,089,000 USDT	= (99 + 222.50142857) * 10,000 + 99 * 1,000 = 3,314,014.2857 USDT (321.50142857 BTC and 99 ETH)
	∑Collateral Value	= 99 * 10,000 * 100% +99 * 1,000 * 100% = 1,089,000 USDT	= 100 * 10,000 * 100% + 100 * 10,000 * 97.5% + 100 * 10,000 * 95% + 21.50142857 * 10,000 * 90% + 99 * 1,000 * 100% = 3,217,512.85713 USDT Note: ∑Collateral Value is smaller than ∑Asset due to the haircut impact (see the tiered collateral ratio table above)
	∑Liability	= 50 * 10,000 + 50 * 1,000 = 550,000 USDT	= 272.50142857 * 10,000 + 50 * 1,000 = 2,775,014.2857 USDT (272.50142857 BTC and 50 ETH)
	∑Net Equity	= ∑Asset- Total Liability =1,089,000 - 550,000 = 539,000 USDT	= ∑Asset- ∑Liability = 3,314,014.2857 - 2,775,014.2857 = 539,000 USDT
	∑Initial Margin	= 50 * 10,000 * 11.12% + 50 * 1,000 * 14.29% = 62,745 USDT	= 100 * 10,000 * 11.12% +100 * 10,000 * 14.29% + 72.50142857 * 10,000 * 25% + 50 * 1,000 * 14.29% = 442,498.571425 USDT (See the Liability Coin Leverage table above. Total BTC borrow amount is 272.50142857, which falls under Tier 3. ETH borrow amount is 50, also falls under Tier 1)
	∑Maintenance Margin	= 50 * 10,000 * 2% + 50 * 1,000 * 5% = 12,500 USDT	= 100 * 10,000 * 2% + 100 * 10,000 * 3% + 72.50142857 * 10,000 * 4% + 50 * 1,000 * 5% = 81,500.571428 USDT (See the Liability Coin Leverage table above. )

Margin Level Calculation

Margin Level	= ∑Net Equity / ∑Maintenance Margin = 539,000 / 12,500 = 43.12	= ∑Net Equity / ∑Maintenance Margin = 539,000 / 81,500.571428 = 6.61345
Margin Level Health	Margin Level > MCR The account is low risk	Margin Level > MCR The account is low risk

Collateral Margin Level Calculation

Collateral Margin Level	= ∑Collateral Value / Total Liability = 1,089,000 / 550,000 = 1.98	= ∑Collateral Value / Total Liability = 3,217,512.85713 / 2,775,014.2857 = 1.159458
Transfer Status	Collateral Margin Level < 2 The user is restricted from transferring funds out of the Margin Account.	Collateral Margin Level < 2 The user is restricted from transferring funds out of the Margin Account.
Max Transfer Out Amount	0	0
Convert to Cross Margin Classic (5X)	Yes Collateral Margin Level > 1.25	No Since ∑Asset / ∑Liability = 1.19, Collateral Margin Level < 1.25

Available Margin Amount

Available Margin Amount	Available Margin Amount will be displayed at the wallet page. = Max (∑Net Collateral - ∑Initial Margin, 0) = Max (∑Collateral Value - ∑Liability - ∑Initial Margin, 0) = Max (1,089,000 - 550,000 - 62,745, 0) = 476,255 USDT	Available Margin Amount will be displayed at the wallet page. = Max (∑Net Collateral - ∑Initial Margin, 0) = Max (∑Collateral Value -∑Liability - ∑Initial Margin, 0) = 0 Since ∑Collateral Value - ∑Liability - ∑Initial Margin = 3,217,512.85713 - 2,775,014.2857 - 442,498.571425 = 0
Additional BTC max borrowable amount	476,255 / 11.12% = 4,282,599, above the Tier 4 borrow range The maximum borrowing amount for BTC is not as straightforward as in Example 1. You may need to attempt 1-2 times to determine the tier in which the maximum borrowing amount falls, in order to reduce the Available Margin Amount to zero. The Cross Margin Pro mode is more capital-efficient than the Cross Margin Classic mode. With the same net equity amount, the borrowable amount in the Cross Margin Pro mode is higher.	0

When can I switch to the Cross Margin Pro mode?

If the Margin Level of your Cross Margin Pro account is greater than 2.5, you can switch to 10x.
If the Collateral Margin Level of your Cross Margin Classic mode is above 1.25, you can switch to the Cross Margin Pro mode. If you're not eligible for switching, you’ll see an error message. You are only allowed to switch 5 times per day between different modes.

Can I switch back to the Cross Margin Classic mode?

Yes, you can switch back to 5x if your Margin Level (in the Classic mode) is higher than the Initial Risk Ratio, which is 1.5 for Cross Margin 3x and 1.25 for Cross Margin 5x. If you're not eligible for switching, you’ll see an error message. You are only allowed to switch 5 times per day between different modes.

Can I customize my Margin Call Ratio (MCR) in the Cross Margin Pro mode?

You retain the option to customize your own Margin Call Ratio (MCR) in the Cross Margin Pro mode. However, the MCR must fall between 1.3 and 2. The default MCR for Cross Margin Pro is 1.5.

Will my customized MCR remain the same after switching?

When you initially switch to the Cross Margin Pro mode, your MCR will automatically default to 1.5. However, once you have customized your MCR in both the Pro and Classic modes, these settings will be retained in the system. Consequently, they will be set as the default MCR when you toggle between the Classic and Pro modes.

Disclaimer and Risk Warning: Digital asset prices are subject to high market risk and price volatility. The information provided does not constitute, in any way, a solicitation or recommendation or inducement to buy or sell the products. The value of your investment may go down or up, and you may not get back the amount invested. Cross-margining contributes to providing greater leverage than a regular margin account, and greater leverage creates greater losses in the event of adverse market conditions. There is increased risk that a user's cross-margin positions will be liquidated involuntarily, causing possible loss. Comments and analysis do not constitute a commitment or guarantee on the part of Binance. You are solely responsible for your investment decisions and Binance is not liable for any losses you may incur. Past performance is not a reliable predictor of future performance. You should only invest in products you are familiar with and where you understand the risks. You should carefully consider your investment experience, financial situation, investment objectives and risk tolerance and consult an independent financial adviser prior to making any investment. This material should not be construed as financial advice. This product may not be available in certain countries. This content is not intended for users/countries to which prohibitions/restrictions apply. For more information, see our Terms of Use and Risk Warning.