Cross Margin
Isolated Margin
Cross Margin
Last updated: 25 June 2024
In this article, you will learn:
- How these functions work on Cross and Isolated Margin accounts: Close Position, Repay, Close All Positions, and Repay All Debt
- Examples of how each of the above functions affect your Margin account assets or liabilities
For Cross Margin mode
Please note that once ‘Close Position’, ‘Repay’, ‘Close All Positions’ or ‘Repay All Debt’ requests are submitted, you won’t be able to modify your positions until they are completed. There’s no guarantee in terms of the time needed to fully exit positions or sell the required amount of assets to fully repay debts due to varying market conditions and volatility. Larger market orders to sell assets using these functions may also experience greater price slippages and may result in losses.
1. What is ‘Close Position’ on Cross Margin?
The ‘Close Position’ function allows you to fully or partially exit a single cryptocurrency position (with a position value between 10 USDT and 50,000 USDT) in your Cross Margin account. Any outstanding debt for that cryptocurrency will be repaid and any remaining assets will be converted into your selected stablecoin at the current market price. Standard trading fees apply.
2. What is ‘Repay’ on Cross Margin?
The ‘Repay’ function allows you to fully repay any outstanding debt (with a value of less than or equal to 50,000 USDT) for a single cryptocurrency position. If the debt for a position exceeds the available assets for the same cryptocurrency, other assets in your Cross Margin account will be sold to repay the residual debt. You will be prompted to rank, in descending order, which assets to sell first via market orders to repay the residual debt.
3. What is ‘Close All Positions’ on Cross Margin?
The ‘Close All Positions’ function allows you to fully exit all Cross Margin positions. Any outstanding debt (with a value of less than or equal to 50,000 USDT) in your Cross Margin account will be repaid and any remaining assets will be converted into your selected stablecoin at the current market price. Standard trading fees apply.
Please note that there may be a short delay before your request to Close All Positions starts running. Please avoid making changes (placing orders, transfers and borrow/repay requests) to your Margin Account before this request is fully completed, to avoid potential losses. Once the operation starts, these actions will be automatically suspended until the request is completed.
4. What is ‘Repay All Debt’ on Cross Margin?
The ‘Repay All Debt’ function allows you to cancel all pending Cross Margin orders and fully repay any outstanding debt (with a total value of less than or equal to 50,000 USDT) across all positions in your Cross Margin account. When debts exceed asset amounts, other assets in your Cross Margin account will be sold to repay these debts.
Please note that there may be a short delay before your request to Repay All Debt starts running. Please avoid making changes (placing orders, transfers and borrow/repay requests) to your Margin Account before this request is fully completed to avoid potential losses. Once the operation starts, these actions will be automatically suspended until the request is completed.
5. How to use the Close Position and Repay functions on Cross Margin?
If you’re using the Binance website:
1. Log in to your Binance account and go to [Trade] - [Margin]. Click [Cross] to switch to Cross Margin mode.
2. Scroll down to the [Positions] tab. Click [Close Position] or [Repay] next to the position you’d like to adjust, or click [Close All Positions] or [Repay All Debt] to close or repay all positions.
3. [Close Position] allows you to choose what percentage of your position you wish to close, as well as the stablecoin you’d like to sell your remaining assets to.
If you’re using the Binance app:
1. Log in to your Binance app and tap [Trade] - [Margin]. Select [Cross] to switch to Cross Margin mode.
2. Scroll down to the [Positions] tab and tap [Close Position] or [Repay] for the position you’d like to adjust, or tap [Repay All] or [Close All] to repay or close all positions.
6. Application of Close Position and Repay functions
Let’s explore how each function changes your Margin account using an example:
- Using 100 USDC as collateral, you have borrowed 100 USDC and bought 0.002 BTC at $50,000 and 0.05 ETH at $2,000, using a total of 200 USDC.
- Your Margin account therefore contains 0.002 BTC and 0.05 ETH as assets and 100 USDC liability.
- Assuming BTC and ETH prices do not change, let’s see how your positions will change depending on each function:
| Close Position (BTC) into USDC | Repay (USDC) | Close All Positions into USDC | Repay All Debt | |
| Description | 0.002 BTC will be sold at $50,000 into 100 USDC (your chosen stablecoin). Your 100 USDC liability remains unpaid. | 100 USDC liability will be repaid, in this case by selling your assets. Assume that you have chosen to sell ETH first. Since selling 0.05 ETH at $2,000 will result in 100 USDC, only ETH is sold. Lastly, 100 USDC liability is repaid using the 100 USDC proceeds. | All debts will be repaid and remaining assets will be sold into USDC (your chosen stablecoin). In this case, BTC and ETH are sold to repay USDC debt, and remaining assets are also sold into USDC. | All debts will be repaid. In this case, USDC liability is repaid by selling your assets. Assume that BTC is sold at $50,000 due to better liquidity. You receive 100 USDC which is used to repay the 100 USDCdebt. |
| BTC | 0 BTC | 0.002 BTC | 0 BTC | 0 BTC |
| ETH | 0.05 ETH | 0 ETH | 0 ETH | 0.05 ETH |
| USDC | 100 USDC asset 100 USDC debt | 0 USDC asset 0 USDC liability | 100 USDC asset 0 USDC liability | 0 USDC asset 0 USDC liability |
Click to view the ‘Isolated Margin’ tab on this page to learn more.
For more information on your Binance Margin account, visit the Margin Account Management FAQs page.
For more information on your Binance Margin account, visit the Margin Account Management FAQs page.
Please note that once ‘Close Position’, ‘Repay’, ‘Close All Positions’ or ‘Repay All Debt’ requests are submitted, you won’t be able to modify your positions until they are completed. There’s no guarantee in terms of the time needed to fully exit positions or sell the required amount of assets to fully repay debts due to varying market conditions and volatility. Larger market orders to sell assets using these functions may also experience greater price slippages and may result in losses.
1. What is ‘Close Position’ on Isolated Margin?
The ‘Close Position’ function allows you to fully exit an Isolated Margin position. You can choose which cryptocurrency of a trading pair to settle in, and the system will repay any outstanding debt (with a value of less than or equal to 50,000 USDT) for that trading pair and convert the remaining assets into the chosen cryptocurrency at current market price. After the position is closed, the remaining assets will be transferred to your Spot Wallet. Standard trading fees apply.
2. What is ‘Repay’ on Isolated Margin?
The ‘Repay’ function allows you to fully repay any outstanding debt (with a value of less than or equal to 50,000 USDT) for an Isolated Margin position. Available assets are used to repay liabilities, and the system will close the remaining liabilities by placing market orders based on the outstanding liability amounts.
3. What is ‘Repay All Symbols Debt’ on Isolated Margin?
The ‘Repay All Symbols Debt’ function allows you to fully repay any outstanding debt (with a total value of less than or equal to 50,000 USDT) across all positions in your Isolated Margin account. Available assets are used to repay liabilities, while remaining liabilities are closed by placing market orders based on the outstanding liability amounts.
Please note that there may be a short delay before your request to Repay All Symbols Debt starts running. Please avoid making changes (placing orders, transfers and borrow/repay requests) to your Margin Account before this request is fully completed to avoid potential losses. Once the operation starts, these actions will be automatically suspended until the request is completed.
4. How to use the Close Position and Repay functions on Isolated Margin?
If you’re using the Binance website:
1. Log in to your Binance account, go to [Trade] - [Margin]. Click [Isolated] to switch to Isolated Margin mode.
2. Scroll down to the [Positions] tab and click [Close Position] or [Repay] next to the position you’d like to adjust, or click [Repay All Symbols Debt].
If you’re using the Binance app:
1. Log in to your Binance app and tap [Trade] - [Margin]. Select [Isolated] to switch to Isolated Margin mode.
2. Scroll down to the [Positions] tab and tap [Close Position] or [Repay] for the position you’d like to adjust, or tap [Repay All Symbols].
For more information on your Binance Margin account, visit the Margin Account Management FAQs page.