1. When does Auto-Exchange happen? Is it possible to increase the negative threshold?
Under the Multi-Assets Mode, Auto-Exchange happens under three circumstances:
- Asset Wallet Balance is below the autoExchangeThreshold;
For Regular and VIP 1 Users, when Asset Wallet Balance is less than Auto-ExchangeThreshold (-5,000 USDT/USDC/BNFCR or - 0.1 BTC); For all other users, when Asset Wallet Balance is less than Auto-ExchangeThreshold (-10,000 USDT/USDC, -5,000 BNFCR, or - 0.1 BTC).
- In case of liquidation, if asset wallet balance in the USDⓈ-M Futures Wallet is insufficient to cover the deficit, Auto-Exchange will be immediately triggered.
- Your USDⓈ-M Futures Wallet has a negative balance, with no existing positions or open orders. If LTV ≥ 0.995, Auto-Exchange will be triggered.
For example, when a Regular User's USDC balance is -5,000 USDC, Auto-Exchange will be triggered. 5,000 USDC / 97.5% = 5,128.20 USDC of the BTC will be changed to USDC to balance the wallet after taking into consideration the 2.5% haircut for BTC.
If there are multiple assets under Multi-Asset Mode, when the Auto-Exchange is triggered, they will be automatically converted to negative assets according to the proportion of each asset. In order to avoid Auto-Exchange, users can transfer in or exchange assets to reduce negative balance before it breaches the Auto-Exchange Threshold or LTV Trigger (if the user has no existing positions nor open orders).
For risk mitigation purposes, the Auto-Exchange Threshold is fixed and cannot be adjusted.
2. I have negative balances of -9,000 USDT and -9,000 USDC under the Multi-Assets Mode. Will it trigger Auto-Exchange?
Auto-Exchange occurs if Asset Wallet Balance falls below the Auto-Exchange Threshold. Auto-Exchange won't be triggered when your margin balances remain above the threshold.
Using a Regular or VIP 1 User for example:
When the user’s USDC balance hits - 5,000 USDC, auto exchange will be triggered. 5,000 USDC / 97.5% = 5,128.20 USDC of User’s BTC will be converted to USDC to balance the wallet (after taking into account for the 2.5% haircut rate for BTC).
3. Is it possible to enable the Multi-Assets Mode through API?
You can activate the Multi-Assets Mode via API via a POST API request:
POST /fapi/v1/multiAssetsMargin
You can also check whether the Multi-Assets Mode is activated via the GET API request:
GET /fapi/v1/multiAssetsMargin
4. Can I combine Isolated Margin Mode and Multi-Assets Mode?
Multi-Assets Mode only supports the Cross Margin Mode by default. Hence the Isolated Margin Mode and the Multi-Assets Mode are mutually exclusive.
5. Can I trade COIN-Margined Futures contracts in Multi-Assets Mode?
The Multi-Assets Mode is restricted to USDⓈ-Margined Futures contracts and does not apply to COIN-Margined Futures contracts.
6. I was liquidated in the Multi-Assets Mode. Does it affect my wallet balance and positions in the COIN-M Futures, Cross Margin, and Spot Wallets?
Liquidations in the Multi-Assets Mode occur when the margin ratio falls by 100%. Please note that it will only affect open positions in the USDⓈ-Margined Futures markets and the supported margin assets in your USDⓈ-M Futures Wallet.
Positions and assets in the COIN-M Futures, Cross Margin, and Spot Wallets won't be affected by liquidations in the Multi-Assets Mode.
7. Do I need to close my positions on the USDⓈ-M Futures market before enabling/disabling the Multi-Assets Mode?
You can switch from Single-Asset to Multi-Assets Mode (and vice versa) while keeping your existing positions open on the USDⓈ-M Futures market.
8. Is Hedge Mode compatible with Multi-Assets Mode?
You can long or short positions using Hedge Mode under Multi-Assets Mode.