Dear User:
Binance Futures will update the leverage and margin tiers of HIFIUSDT U-margin perpetual contracts at 03:30 (ET) on September 17, 2023. Users' current positions will be affected. Users are requested to adjust their margins according to the updated leverage and margin tiers to avoid forced liquidation. The specific adjustments are as follows:
HIFIUSDT U-based perpetual contract
Original leverage and margin ladder | New Leverage and Margin Tiers | ||||
Maximum leverage (before fixing) | Position (USDT nominal value, before adjustment) | Maintenance Margin Rate (before fixing) | Maximum leverage (adjusted) | Position (USDT nominal value, adjusted) | Maintenance Margin Rate (adjusted) |
16 - 20x | 0 < Position ≤ 5,000 | 2.00% | N/A | ||
11 - 15x | 5,000 < Position ≤ 25,000 | 2.50% | 11 - 15x | 0 < Position ≤ 25,000 | 2.50% |
6 - 10x | 25,000 < Position ≤ 200,000 | 5.00% | 6 - 10x | 25,000 < Position ≤ 200,000 | 5.00% |
5x | 200,000 < Position ≤ 500,000 | 10.00% | 5x | 200,000 < Position ≤ 500,000 | 10.00% |
3 - 4x | 500,000 < Position ≤ 1,000,000 | 12.50% | 3 - 4x | 500,000 < Position ≤ 1,000,000 | 12.50% |
2x | 1,000,000 < Position ≤ 3,000,000 | 25.00% | 2x | 1,000,000 < Position ≤ 3,000,000 | 25.00% |
1x | 3,000,000 < Position ≤ 5,000,000 | 50.00% | 1x | 3,000,000 < Position ≤ 3,500,000 | 50.00% |
Notice:
The funding rate cap multiplier for HIFIUSDT U-based contracts has been raised from 0.75 to 1.
The maintenance margin will affect the funding rate cap. Funding rate cap = clamp (funding rate, -1*maintenance margin rate, 1*maintenance margin rate). For detailed calculation rules, please refer to the Binance Futures Funding Rate Introduction.
In order to protect the rights and interests of users and reduce risks in extreme market conditions, Binance Futures may take additional protective measures for HIFIUSDT U-margin perpetual contracts without further announcement. Potential protective measures include but are not limited to adjusting leverage and margin (including the maximum leverage multiple, position limit, and maintenance margin rate for each level), adjusting funding rates (including base interest rate, premium index, and fee cap), changing price index components, or using the "Latest Transaction Price Protection Mechanism" to update the marked price grid.
In the event of any discrepancy between the translated version and the original English version, the English version shall prevail.
illustrate:
U-standard contract trading rules
Leverage and Margin for U-margin Contracts
Mark Price and Index Price
Thank you for your support!
Binance Team
September 17, 2023