1. What is Binance Options RFQ?
Binance Options ‘Request for Quote’ (RFQ) lets users request for option quotes from the Binance OTC Trading Desk. It provides competitive institutional-grade prices across all of Binance’s OTC and block trading products.
2. What's the difference between Binance Options RFQ and the Binance Options order book?
Binance Options RFQ provides an instant quote for your options trades with institutional-grade liquidity and competitive prices, while on the Options Order Book, you will be trading with the available liquidity on the order book. Additionally, there are no transaction fees for Options RFQ trades.
If you have a large-sized trade and would like to get a competitive quote for a discreet trade, you can leverage Binance Options RFQ’s increased liquidity to trade outside of the exchange order book.
3. Are there any trading fees to trade on Binance Options RFQ?
There are no transaction fees for Options RFQ trades. Standard exercise fees apply. For more details, please visit Binance Options Trading Fees.
4. What instruments, strikes, and expiries are supported?
Options RFQ supports strikes and expiries on the Binance Options order book. Please refer to the RFQ page for the full list of instruments.
5. Are the available instruments the same as the Binance Options order book? Can they be traded between the Binance Options RFQ and the Binance Options order book?
Yes, options bought or sold via Options RFQ and the Options order book are equivalent and can be bought or sold across both channels.
In other words, you can buy an option via RFQ and sell the same option you just bought on the options order book thereafter, or vice versa.
6. What are the minimum and maximum trade sizes?
The minimum trade size is 0.01 contract (e.g., 1 contract = 1 BTCUSDT). Maximum sizes are subject to liquidity conditions. In general, you have access to a much deeper and larger liquidity on the Binance Options RFQ platform. You can request a quote for your trade size to learn more.
7. What are the requirements to trade on the Options RFQ platform?
Verified Binance users from the supported jurisdictions can trade options on the Binance Options RFQ platform.
8. How to enable Binance Options RFQ for my account?
You’ll need to open a Binance Options account first. Please make sure you have sufficient margin in your Options account to trade. Before you start trading, you’re also required to complete an options knowledge questionnaire on the platform.
9. What can I do if I can't pass the options knowledge questionnaire?
You may answer the questionnaire again when you are ready.
10. Can I sell or write options?
Selling options is currently limited to the closing of your open positions. Writing (shorting) options is supported for selected users (terms and conditions apply).
If you are interested in getting options writing access, please refer to this announcement.
11. What are the option specifications?
Please visit Binance Options Contract Specifications for more details.
12. Can I use a custom expiry (‘broken date’) for my RFQ?
No, you may only use the expiries supported on Binance Options order book.
13. How do I top up my Options Wallet balance?
You may transfer funds from your Spot, Futures, or Funding Wallets to your Options Wallet.
14. How do I create an RFQ and execute a trade?
Go to the Binance Options RFQ page and select the specifications of your trade. After selecting the asset, side, expiry, and entering the quantity, click [Request Quote]. You’ll see a live quote on the active panel on the right. Click [Buy] or [Sell] to accept the quote and the trade will be executed instantly.
15. Can I RFQ for multiple legs at the same time?
Currently, only single-leg trades are supported. Multi-leg trades may be supported in the future.
16. How are trades settled?
Trades will be settled just like any other Options trades you perform on the Binance Options order book. Any profit or loss will be automatically settled into your Options Wallet.
For example:
At expiry, if a call option is required to be exercised (i.e., the spot price is above your strike price), the option will be exercised automatically and the profit will be settled into your Options Wallet. Otherwise, it will expire.
Similarly, if a put option is required to be exercised (i.e., the spot price is below your strike price), the option will be exercised automatically and the profit will be settled into your Options Wallet. Otherwise, it will expire.
17. Why did I see this error message, "You currently don't have sufficient available margin to buy"?
This means that your available margin is currently insufficient to execute the trade. Please fund your Options Wallet and try again.
18. What is the "Options Position Summary"?
It is a summary of your current option positions. Any open option positions will be displayed here.