Wallet Transfers, Auto Fund Functions, and Negative Balances in Binance Portfolio Margin
2023-05-04 14:35
Last updated: 8 Nov 2024
In compliance with MiCA requirements, unauthorized stablecoins are subject to certain restrictions for EEA users. For more information, please click here.
The Portfolio Margin mode has streamlined the fund transfer features to improve user experience. You can use the new Aggregate Balances and Auto Repay functions to better manage your funds.
1. Asset transfer between different wallets under Portfolio Margin
Transferring funds between different wallets is an essential aspect of managing your Portfolio Margin account. Portfolio Margin supports fund transfers between Cross Margin and Futures with some restrictions. Transfers can also occur between these wallets and other Binance wallets, but specific rules apply.
Note: Additionally, the BNB logic is incorporated into the Portfolio Margin program. You can use BNB for fees and benefit from discounted trading fees.
Portfolio Margin Wallet Transfer Rules:
You can only transfer assets in and out of your Portfolio Margin account using the Cross Margin Wallet.
Transfers in and out from the USDⓈ-M or COIN-M Futures Wallets to non-Portfolio Margin wallets (e.g., Spot Wallet) are not supported.
You can only transfer assets from the Futures Wallet to the Cross Margin Wallet using the Aggregate Balances function within your Portfolio Margin account (except for BNB in the USDⓈ-M Futures Wallet).
You cannot transfer assets from the Cross Margin Wallet to the USDⓈ-M and COIN-M Futures Wallets.
Exception: You can transfer BNB from the Cross Margin Wallet to the USDⓈ-M Futures Wallet to use the BNB trading fee discount on Futures trading.
When Auto Repay is activated, manual repayment of assets from the Cross Margin Wallet to either the USDⓈ-M or COIN-M Futures Wallets will be enabled for a given asset, until the corresponding negative balance has been replenished.
USDⓈ-M and COIN-M Futures Wallets cannot transfer assets to one another.
2. Transfer BNB function
The [Transfer BNB] button lets you transfer BNB from your Cross Margin Wallet to your USDⓈ-M Wallet. This allows you to enjoy reduced fees and optimize your trading costs when engaging in futures trading on the platform.
Note: You can also use this function ten times per a rolling 10-minute period.
3. What is the Aggregate balances function?
The Aggregate balances function simplifies the fund transfer process between different wallets and reduces potential errors associated with manual transfers.
When you click the [Aggregate balances] button or send an API request, the system will automatically transfer all positive balances from your USDⓈ-M and COIN-M Futures Wallets to your Cross Margin Wallet.
Please note that unlike other assets, your BNB in the USDⓈ-M Futures Wallet won’t be automatically transferred.
Note: For API support specifications, please refer to the “Fund Auto-collection” section on the GitHub API documentation.
4. How to activate the Aggregate balances function?
1. Log in to your Binance account and mouse over to the [Assets] section. Click [Portfolio Margin] - [Transfer].
2. Click [Aggregate balances], and all your positive balances will be transferred to your Cross Margin Wallet.
Please note that the [Aggregate balances] function will only be available when you transfer from the Portfolio Margin Wallet to the Fiat and Spot Wallet, as shown below.
For more granular control over fund collection, you can use the POST /papi/v1/asset-collection endpoint to query fund collection on a per-asset basis.
5. What is the Auto Repay function and how does it work?
The Auto Repay function can automatically repay your negative balances in the USDⓈ-M and COIN-M Futures Wallets by transferring the corresponding assets from your Cross Margin Wallet, provided that you have the same assets in your Cross Margin Wallet. No auto repayments will occur if you don’t have the required assets in your Cross Margin Wallet. In this case, you need to manually transfer the necessary assets into your Cross Margin Wallet to allow the auto-repay process to operate.
Auto Repay Function Schedule The Auto Repay function operates twice a day, within 2 hours before charging the negative balance interest. The daily interest charge time is 00:00 (UTC).
Example of the Auto Repay Function
If the system auto-repays 50% of your BTC negative balance at 22:50 and 23:45 (UTC), and you transfer more BTC into your Cross Margin Wallet at 23:50 (UTC), the system won’t auto-repay again on the same day (as the function only operates twice a day).
Limitations of the USDⓈ-M and COIN-M Futures Wallets under Portfolio Margin Mode
Auto-repayment only happens from the Cross Margin Wallet to the USDⓈ-M and COIN-M Futures Wallets. This means your USDⓈ-M and COIN-M Futures Wallets cannot automatically repay each other's negative balances.
For example, should you have a positive BTC balance in the COIN-M Wallet and a negative BTC balance in the USDⓈ-M Wallet as a result of trading ETHBTC USDⓈ-M Futures contract, auto-repayment cannot occur. In this case, you must manually transfer BTC from the COIN-M Wallet to the Cross Margin Wallet using the Aggregate balances function. After that, auto-repayment can occur from the Cross Margin Wallet to the USDⓈ-M Wallet.
6. What are the benefits of the Auto Repay function?
The Auto Repay function offers several advantages, including:
Simplified fund management: Automated transfers between wallets reduce the need for manual intervention and simplify account management.
Reduced risk of errors: Automated transfers help minimize errors during fund transfers.
7. What are the limitations and rules of the Auto Repay function?
Enabling/disabling the Auto Repay function
The Auto Repay function is activated by default. You can deactivate it and switch to [Manual Repay] from [Portfolio Margin].
Note:
If you disable Auto Repay and you have a negative asset balance in your USDⓈ-M or COIN-M Futures Wallet, you need to manually transfer assets from the Cross Margin Wallet to either the USDⓈ-M or COIN-M Futures Wallets.
When Auto Repay is activated, manual repayment of assets from the Cross Margin Wallet to either the USDⓈ-M or COIN-M Futures Wallets will be enabled for a given asset, until the corresponding negative balance has been replenished.
Interest charges
Please note that negative balances in the USDⓈ-M and COIN-M Futures Wallets may incur interest charges. However, there is an interest-free threshold for each asset. For more details on the threshold per asset, please refer to the table in #9.
Repayment order
The Auto Repay function will repay the negative balances in your USDⓈ-M or COIN-M Futures Wallets in no particular order. For example, you have negative balances in USDⓈ-M and COIN-M Futures Wallets after trading BTC-Margin contracts. The Auto Repay function will perform repayments in a random order.
8. Negative balances in USDⓈ-M and COIN-M Futures Wallets and interest rates
"NegativeBalance" for a specific asset occurs when the total balance of free assets (shown as “available balance”) in Cross-Margin and assets in the USDⓈ-M and COIN-M Futures Wallets becomes negative, indicating a deficit in that particular asset. This is calculated individually, with a specific negative balance threshold for each asset.*
Negative balances are allowed as long as your Unified Maintenance Margin Ratio (uniMMR) remains above the liquidation threshold of 105%.
If your negative balances exceed the threshold, you’ll be charged an interest fee once a day at 00:00 (UTC). This interest fee is calculated based on your Margin Loan's daily interest rate and the negative balance's absolute value. Please note that if you have the required assets in your Wallet, the system will automatically attempt to repay your negative balances within two hours before the interest charge.
Please note that Auto-exchange does not apply to the Portfolio Margin Account.
“interestFee” is the fee charged for having a negative balance;
“negativeBalance” is the account balance when it is negative (less than zero);
"NegativeBalance" for a particular asset occurs when the combined balance of free assets (reflected as “available balance”) in Cross-Margin and assets in the USDⓈ-M and COIN-M Futures Wallets is negative, indicating a deficit in that specific asset. It is calculated independently with a specific negative balance threshold for each asset.*
“dailyInterestRate” is your Margin Loan’s daily interest rate;
“negative_threshold” is the negative balance threshold in the following table below (point 9).
For example, if your negative balance is -10,050 USDT, and the daily interest rate for your Margin Loan is 0.1%, the interest fee would be:
interestFee = abs(-50) * 0.001 = 0.05 USDT
For instance, if your BTC balance is negative in the USDⓈ-M Wallet, but is counterbalanced by a positive BTC balance in the COIN-M Futures or Cross Margin Wallets, it will result in a net positive overall BTC balance in Portfolio Margin-supported wallets. "NegativeBalance" for BTC will not apply, and no interest will be charged.
9. Portfolio Margin negative balance threshold
Asset
Negative Balance Threshold
USDT
10,000
USDC
10,000
BTC
1
ETH
6
LINK
500
BNB
4
TRX
5,000
DOT
300
ADA
10,000
EOS
500
LTC
20
BCH
7
XRP
9,000
ETC
40
FIL
100
EGLD
3
DOGE
70,000
UNI
50
THETA
100
XLM
2,000
SOL
30
FTM
3,000
SAND
1,000
MANA
800
AVAX
70
GALA
60,000
MATIC
3,000
NEAR
60
ATOM
80
AAVE
3
AXS
80
ROSE
1,000
XTZ
40
ICX
60
ALGO
400
RUNE
20
APE
100
VET
90,000
ZIL
2,000
KNC
40
XMR
4
GMT
1,000
OP
200
ENS
30
CHZ
2,000
APT
400
10. Transferring assets between sub-accounts in the Portfolio Margin Program
Users with sub-accounts can transfer assets between Cross Margin accounts under the same main account.
Transfers must be initiated at the main account level.
Both sub-accounts must be under the same main account.
Asset transfers between sub-accounts are managed using the following POST API endpoint: /sapi/v1/sub-account/universalTransfer.
