How to Use the Close Position and Repay Functions on Binance Margin?

The ‘Close Position’ function allows you to fully or partially exit a single cryptocurrency position (with a position value greater than 10 USDT) in your Cross Margin account. Assets locked in open orders will not be included in such a request. Any outstanding debt for that cryptocurrency will be repaid and any remaining assets will be sold into your selected token using market orders. Standard trading fees apply.

Amount Limit：

• Themaximum close position amountfor a single request is capped at 95% of the Maximum Market Order Amount as specified in Binance’sSpot Trading Rules. Note that the Maximum Market Order Amount may change from time to time due to market conditions.
• If a direct trading pair exists between the position you want to close and the selected settlement token, the Maximum Market Order Amount of that pair applies.
  • For example, if a user wants to close a ZRO position and settle in BTC, and the ZRO/BTC trading pair exists: Binance Margin will sell ZRO into BTC directly, with the maximum close position amount calculated as 95% of the Maximum Market Order Amount for the ZRO/BTC trading pair.
• If no direct trading pair is available, the position you want to close will be sold into USDT and then into the settlement token. In this case, Binance Margin will use the lower of the two Maximum Market Order Amounts for both pairs as the maximum close position amount.
  • For example, if a user wants to close a ZRO position and settle in ETH, but no ZRO/ETH pair exists: Binance Margin will sell ZRO into USDT first, and sell the USDT into ETH. Since ZRO/USDT has a lower Maximum Market Order Amount compared to ETH/USDT, the maximum close position amount for this request will be calculated as 95% of the Maximum Market Order Amount for the ZRO/USDT trading pair.
• If the requested position size to be closed is larger than the maximum close position amount, the request will not be processed. Users may select a smaller closing ratio to proceed.

Users may submit ‘Close Position’ requests in their Cross Margin account up to 200 times per 24 hoursacross all positions. This allows you to submit multiple requests to fully close a position, since the maximum close position amount may limit the amount of tokens sold per request. Beyond this limit, you may only close your positions by placing their own trades.

The ‘Close Position’ function allows you to fully or partially repay outstanding debt for a single cryptocurrency position below 0 USDT in value (negative positions). Assets locked in open orders will not be included in such a request. You will be prompted to rank, in descending order, which assets to sell first via market orders to repay the debt. Standard trading fees apply.

Amount Limit：

• Themaximum repay amountfrom selling other assets is capped (for each asset) at 95% of the Maximum Market Order Amount as specified in Binance’sSpot Trading Rules. This may result in your ‘Close Position’ request being partially fulfilled, in which case you may submit multiple ‘Close Position’ requests to fully repay liabilities for a single position.
  • For example, you have 10,000 USDT in liabilities and 30 BNB in assets. Assuming BNB price is 500 USDT, and the Maximum Market Order Amount for BNB/USDT of 10, the maximum repay amount from selling BNB is 9.5 BNB (95%*10), or 4,750 USDT.
• For each selected asset to be sold to repay your debt:
  • If a direct trading pair exists between the debt token you want to repay and the asset to be sold, the Maximum Market Order Amount of that pair applies.
  • If no direct trading pair is available, the asset will be sold into USDT and then into the debt token. In this case, Binance Margin will take the smaller of the two Maximum Market Order Amounts for both pairs as the maximum repay amount.
  • Due to the Minimum Order Size specified in Binance ’sSpot Trading Rules, there is a possibility that there are leftover assets of the debt token after a ‘Close Position’ request has concluded. This is a result of having to sell slightly more assets than the residual debt due to the Minimum Order Size.

You may submit ‘Close Position’ requests in your Cross Margin account up to 200 times per 24 hoursacross all positions. This allows you to submit multiple requests to fully repay your debt, since the maximum repay amount may limit the amount of tokens sold per request. Beyond this limit, you may only repay your debt by placing your own trades and subsequently manually performing repayments.

The ‘Close All Positions’ function allows you to fully exit all Cross Margin positions. All open orders will be canceled. Any outstanding debt in your Cross Margin account will be repaid and any remaining assets will be sold into your selected token using market orders. Standard trading fees apply.

Amount Limit:

• For 'Close All Positions' requests, your total assets must be below 150,000 USDT notional. If your total assets exceed 150,000 USDT, the request will not be processed. You may use ‘Close Position’ on individual positions instead, until your total assets fall within the cap.
• Users may submit ‘Close All Positions’ requests in their Cross Margin account up to 50 times per 24 hours across all positions. Beyond this limit, users may only close their positions by placing their own trades.

Large positions may require longer processing times and may experience larger slippages. Please note that there may be a short delay before your request toClose All Positionsstarts 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.

The ‘Repay All Debt’ function allows you to cancel all pending Cross Margin orders and fully repay any outstanding debt across all positions in your Cross Margin account.

Amount Limit：

• For 'Repay All Debt' requests, the sum of your net liabilities for each position should be below 150,000 USDT notional. If it exceeds 150,000 USDT, the request will not be processed. You may use ‘Repay’ on individual positions instead, until the sum of your net liabilities for each position falls within the cap.
• Users may submit ‘Repay All Debt’ requests for their Cross Margin accounts up to 50 times per 24 hours. Beyond this limit, users may only close their positions by placing their own trades and manually performing repayments.

Large positions may require longer processing times and may experience larger slippages. Please note that there may be a short delay before your request toRepay All Debtstarts 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.

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]next to the position you’d like to adjust, or click[Close All]or[Repay All]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.

For negative positions, you’ll be prompted to rank, in descending order, which assets to sell first via market orders to repay the debt.

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]for the position you’d like to adjust, or tap[Repay All]or[Close All]to repay or close all positions.

Yes, the Close Position function works while you are in withdrawal-only mode. If you intend to close a position larger than 95% of the Maximum Market Order Amount, you can click the button and then select the closing ratio multiple times to close the desired position amount. Any outstanding debt for that cryptocurrency will be repaid, and any remaining assets will be converted into your selected stablecoin via market orders. Standard trading fees apply.