Important note:

Effective July 27th, 2021, Binance Futures will introduce leverage limits for users with registered futures accounts of less than 60 days. The following leverage limits will apply:

From the effective date, new users with registered futures accounts of less than 60 days will not be allowed to open positions with leverage exceeding 20x.

The new leverage limits will also apply to existing users with registered futures accounts of less than 60 days:

  • Users with open positions of less than 20x leverage will not be allowed to adjust their open positions beyond 20x leverage.
  • Users with open positions of more than 20x leverage may choose to maintain their position leverage but will not be allowed to increase their position leverage further. They will only be allowed to deleverage their open positions to 20x and below.

For new users with no open positions, all new positions must not exceed 20x leverage.

Leverage limits for new users will gradually increase only after 60 days from registration.

Initial Margin Rate

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.

Please note that in Cross Margin Mode, the margin can only be shared with the same type of asset. For example, all BTC in the COIN-M Futures Wallet can be used for all BTC-based contracts (including perpetual and delivery) in Cross Margin Mode.

Initial Margin Rate = 1 / Leverage

BTCUSD Perpetual Contracts

Leverage

Initial Margin Rate

BTCUSD

Position

(Notional Value in BTC)

125x

0.80%

Max Position 5

100x

1.00%

Max Position 10

50x

2.00%

Max Position 20

20x

5.00%

Max Position 50

10x

10.00%

Max Position 100

5x

20.00%

Max Position 200

4x

25.00%

Max Position 400

3x

33.33%

Max Position 1,000

2x

50.00%

Max Position 1,500

1x

100.00%

Above 1,500

BTCUSD Quarterly 0924 & 1231 Contracts

Leverage

Initial Margin Rate

BTCUSD

Position

(Notional Value in BTC)

50x

2.00%

Max Position 10

20x

5.00%

Max Position 50

10x

10.00%

Max Position 100

5x

20.00%

Max Position 200

4x

25.00%

Max Position 400

3x

33.33%

Max Position 800

2x

50.00%

Max Position 1,500

1x

100.00%

Above 5,000

ETHUSD Perpetual Contracts

Leverage

Initial Margin Rate

ETHUSD

Position

(Notional Value in ETH)

100x

1.00%

Max Position 15

75x

1.33%

Max Position 100

50x

2.00%

Max Position 250

20x

5.00%

Max Position 500

10x

10.00%

Max Position 1,000

5x

20.00%

Max Position 1,500

4x

25.00%

Max Position 2,000

3x

33.33%

Max Position 5,000

2x

50.00%

Max Position 7,500

1x

100.00%

Above 7,500

ETHUSD Quarterly 0924 & 1231 Contracts

Leverage

Initial Margin Rate

ETHUSD

Position

(Notional Value in BTC)

50x

2.00%

Max Position 100

20x

5.00%

Max Position 500

10x

10.00%

Max Position 1,000

5x

20.00%

Max Position 2,000

4x

25.00%

Max Position 3,000

3x

33.33%

Max Position 5,000

2x

50.00%

Max Position 10,000

1x

100.00%

Above 50,000

Leverage

Initial margin

EGLDUSD Perpetual

Position

(Notional Value in EGLD)

FILUSD Perpetual

Position

(Notional Value in FIL)

11x-20x

5.00%

Max Position 500

Max Position 5,000

7-10x

10.00%

Max Position 1,000

Max Position 15,000

6x

16.67%

Max Position 2,000

Max Position 20,000

5x

20.00%

Max Position 4,000

Max Position 30,000

4x

25.00%

Max Position 8,000

Max Position 50,000

3x

33.33%

Max Position 10,000

Max Position 75,000

1-2x

50.00%

Position > 10,000

Position > 75,000

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

Position

(Notional Value in BNB)

XRPUSD Perpetual, XRPUSD Quarterly 0924 & 1231

Position

(Notional Value in XRP)

LINKUSD Perpetual, LINKUSDQuarterly 0924 & 1231

Position

(Notional Value in LINK)

BCHUSD Perpetual, BCHUSD Quarterly 0924 & 1231

Position

(Notional Value in BCH)

11x-20x5.00%

Max Position 25,000

Max Position 5,000,000

Max Position 30,000

Max Position 2,000

Max Position 500,000

Max Position 10,000

Max Position 500

8x-10x10.00%

Max Position 50,000

Max Position 10,000,000

Max Position 150,000

Max Position 4,000

Max Position 1,000,000

Max Position 20,000

Max Position 1,500

7x14.29%

Max Position 100,000

Max Position 20,000,000

Max Position 300,000

Max Position 10,000

Max Position 1,500,000

Max Position 40,000

Max Position 2,000

6x16.67%

Max Position 250,000

Max Position 50,000,000

Max Position 450,000

Max Position 20,000

Max Position 2,000,000

Max Position 60,000

Max Position 3,000

5x20.00%

Max Position 500,000

Max Position 100,000,000

Max Position 600,000

Max Position 40,000

Max Position 3,000,000

Max Position 80,000

Max Position 5,000

4x25.00%

Max Position 750,000

Max Position 200,000,000

Max Position 750,000

Max Position 60,000

Max Position 5,000,000

Max Position 100,000

Max Position 7,500

3x33.33%

Max Position 1,000,000

Max Position 300,000,000

Max Position 1,500,000

Max Position 100,000

Max Position 10,000,000

Max Position 150,000

Max Position 10,000

1-2x50.00%

Above 1,000,000

Above 300,000,000

Above 1,500,000

Above 100,000

Above 10,000,000

Above 150,000

Above 10,000

LeverageInitial margin

BNBUSD Quarterly 0924 & 1231

Position

(Notional Value in BNB)

LTCUSD Perpetual, LTCUSD Quarterly 0924 & 1231

Position

(Notional Value in LTC)

ADAUSD Perpetual, ADAUSD Quarterly 0924 & 1231

Position

(Notional Value in ADA)

DOTUSD Perpetual, DOTUSD Quarterly 0924 & 1231

Position

(Notional Value in DOT)

11x-20x5.00%

Max Position 1,000

Max Position 2,500

Max Position 250,000

Max Position 25,000

8x-10x10.00%

Max Position 2,000

Max Position 5,000

Max Position 500,000

Max Position 50,000

7x14.29%

Max Position 5,000

Max Position 10,000

Max Position 1,000,000

Max Position 70,000

6x16.67%

Max Position 10,000

Max Position 25,000

Max Position 2,000,000

Max Position 80,000

5x20.00%

Max Position 20,000

Max Position 50,000

Max Position 4,000,000

Max Position 100,000

4x25.00%

Max Position 30,000

Max Position 75,000

Max Position 7,000,000

Max Position 150,000

3x33.33%

Max Position 40,000

Max Position 100,000

Max Position 10,000,000

Max Position 250,000

2x50.00%

Max Position 50,000

Max Position 125,000

Max Position 15,000,000

Max Position 500,000

1x100.00%

Above 50,000

Above 125,000

Above 15,000,000

Above 500,000

25x COIN-M Futures Contracts

Leverage

Initial Margin Rate

DOGEUSD

Position

(Notional Value in DOGE)

25x

4.0%

Max Position 500,000

20x

5.0%

2,500,000

10x

10.0%

5,000,000

5x

20.0%

10,000,000

4x

25.0%

20,000,000

2x

50.0%

50,000,000

1x

100.0%

Above 50,000,000

25x COIN-M Futures Contracts: DOGEUSD

20x COIN-M Futures Contracts

Leverage

Initial Margin Rate

UNIUSD

Position

(Notional Value in UNI)

THETAUSD

Position

(Notional Value in THETA)

XLMUSD

Position

(Notional Value in XLM)

20x

5.0%

Max Position 10,000

Max Position 10,000

Max Position 200,000

10x

10.0%

Max Position 20,000

Max Position 20,000

Max Position 400,000

5x

20.0%

Max Position 30,000

Max Position 30,000

Max Position 600,000

4x

25.0%

Max Position 50,000

Max Position 50,000

Max Position 1,000,000

3x

33.33%

Max Position 80,000

Max Position 80,000

Max Position 1,500,000

2x

50.0%

Max Position 100,000

Max Position 100,000

Max Position 2,000,000

1x

100.0%

Above 100,000

Above 100,000

Above 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) before opening his positions. If the trader does not select the 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

Level

Maintenance

Margin Rate

Position Bracket

(Notional Value in BTC)

1

0.40%

Max Position 5

2

0.50%

Max Position 10

3

1.00%

Max Position 20

4

2.50%

Max Position 50

5

5.00%

Max Position100

6

10.00%

Max Position 200

7

12.50%

Max Position 400

8

15.00%

Max Position 1,000

9

25.00%

Max Position 1,500

10

50.00%

Above 1,500

BTCUSD Quarterly 0924 & 1231 Contracts

Level

Maintenance

Margin Rate

Position Bracket

(Notional Value in BTC)

1

1.00%

Max Position 10

2

2.50%

Max Position 50

3

5.00%

Max Position 100

4

10.00%

Max Position 200

5

12.50%

Max Position 400

6

15.00%

Max Position 800

7

25.00%

Max Position 1,500

8

50.00%

Above 5,000

ETHUSD Perpetual

Level

Maintenance

Margin Rate

Position Bracket

(Notional Value in ETH)

1

0.50%

Max Position 15

2

0.65%

Max Position 100

3

1.00%

Max Position 250

4

2.50%

Max Position 500

5

5.00%

Max Position 1,000

6

10.00%

Max Position 1,500

7

12.50%

Max Position 2,000

8

15.00%

Max Position 5,000

9

25.00%

Max Position 7,500

10

50.00%

Above 7,500

ETHUSD Quarterly 0924 & 1231 Contracts

Level

Maintenance

Margin Rate

Position Bracket

(Notional Value in ETH)

1

1.00%

Max Position 100

2

2.50%

Max Position 500

3

5.00%

Max Position 1,000

4

10.00%

Max Position 2,000

5

12.50%

Max Position 3,000

6

15.00%

Max Position 5,000

7

25.00%

Max Position 10,000

8

50.00%

Above 50,000

LeverageMaintenance Margin Rate

ETCUSD Perpetual

Position

(Notional Value in ETC)

TRXUSD Perpetual

Position

(Notional Value in TRX)

EOSUSD Perpetual

Position

(Notional Value in EOS)

BNBUSD Perpetual

Position

(Notional Value in BNB)

XRPUSD Perpetual, XRPUSD Quarterly 0924 & 1231

Position

(Notional Value in XRP)

LINKUSD Perpetual, LINKUSD Quarterly 0924 & 1231

Position

(Notional Value in LINK)

BCHUSD Perpetual, BCHUSD Quarterly 0924 & 1231

Position

(Notional Value in BCH)

11x-20x2.50%

Max Position 25,000

Max Position 5,000,000

Max Position 30,000

Max Position 2,000

Max Position 500,000

Max Position 10,000

Max Position 500

8x-10x5.00%

Max Position 50,000

Max Position 10,000,000

Max Position 150,000

Max Position 4,000

Max Position 1,000,000

Max Position 20,000

Max Position 1,500

7x5.00%

Max Position 100,000

Max Position 20,000,000

Max Position 300,000

Max Position 10,000

Max Position 1,500,000

Max Position 40,000

Max Position 2,000

6x5.00%

Max Position 250,000

Max Position 50,000,000

Max Position 450,000

Max Position 20,000

Max Position 2,000,000

Max Position 60,000

Max Position 3,000

5x10.00%

Max Position 500,000

Max Position 100,000,000

Max Position 600,000

Max Position 40,000

Max Position 3,000,000

Max Position 80,000

Max Position 5,000

4x12.50%

Max Position 750,000

Max Position 200,000,000

Max Position 750,000

Max Position 60,000

Max Position 5,000,000

Max Position 100,000

Max Position 7,500

3x15.00%

Max Position 1,000,000

Max Position 300,000,000

Max Position 1,500,000

Max Position 100,000

Max Position 10,000,000

Max Position 150,000

Max Position 10,000

1-2x25.00%

Above 1,000,000

Above 300,000,000

Above 1,500,000

Above 100,000

Above 10,000,000

Above 150,000

Above 10,000

LeverageMaintenance Margin Rate

BNBUSD Quarterly 0924 & 1231

Position

(Notional Value in BNB)

LTCUSD Perpetual, LTCUSD Quarterly 0924 & 1231

Position

(Notional Value in LTC)

ADAUSD Perpetual, ADAUSD Quarterly 0924 & 1231

Position

(Notional Value in ADA)

DOTUSD Perpetual, DOTUSD Quarterly 0924 & 1231

Position

(Notional Value in DOT)

11x-20x2.50%

Max Position 1,000

Max Position 2,500

Max Position 250,000

Max Position 25,000

8x-10x5.00%

Max Position 2,000

Max Position 5,000

Max Position 500,000

Max Position 50,000

7x5.00%

Max Position 5,000

Max Position 10,000

Max Position 1,000,000

Max Position 70,000

6x5.00%

Max Position 10,000

Max Position 25,000

Max Position 2,000,000

Max Position 80,000

5x10.00%

Max Position 20,000

Max Position 50,000

Max Position 4,000,000

Max Position 100,000

4x12.50%

Max Position 30,000

Max Position 75,000

Max Position 7,000,000

Max Position 150,000

3x15.00%

Max Position 40,000

Max Position 100,000

Max Position 10,000,000

Max Position 250,000

2x25.00%

Max Position 50,000

Max Position 125,000

Max Position 15,000,000

Max Position 500,000

1x50.00%

Above 50,000

Above 125,000

Above 15,000,000

Above 500,000

25x COIN-M Futures Contracts

Level

Maintenance Margin Rate

DOGEUSD

Position

(Notional Value in DOGE)

1

1.20%

Max Position 500,000

2

2.50%

Max Position 2,500,000

3

5.00%

Max Position 5,000,000

4

10.00%

Max Position 10,000,000

5

12.50%

Max Position 20,000,000

6

25.0%

Max Position 50,000,000

7

50.0%

Above50,000,000

25x COIN-M Futures Contracts: DOGEUSD

20x COIN-M Futures Contracts

Level

Maintenance Margin Rate

UNIUSD

Position

(Notional Value in UNI)

THETAUSD

Position

(Notional Value in THETA)

XLMUSD

Position

(Notional Value in XLM)

1

2.50%

Max Position 10,000

Max Position 10,000

Max Position 200,000

2

5.00%

Max Position 20,000

Max Position 20,000

Max Position 400,000

3

10.00%

Max Position 30,000

Max Position 30,000

Max Position 600,000

4

12.50%

Max Position 50,000

Max Position 50,000

Max Position 1,000,000

5

15.00%

Max Position 80,000

Max Position 80,000

Max Position 1,500,000

6

25.00%

Max Position 100,000

Max Position 100,000

Max Position 2,000,000

7

50.00%

Above 100,000

Above 100,000

Above 2,000,000

20x COIN-M Futures Contracts :UNIUSD, THETAUSD, XLMUSD

Cost Required to Open a Position

Traders should ensure that they have the minimum required amount of funds in their wallet 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 unfavorable 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 orders.

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 orderï¼›-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

*Disclaimer: The numbers in this article are subject to change without further notice. Please refer to the English version for the most updated numbers.

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