Binance Futures Will Update the Leverage, Margin Tiers, Funding Rate Settlement Frequency and Capped Funding Rate Multiplier of USDⓈ-M MTLUSDT Perpetual Contract (2023-06-07)

Binance

Fellow Binancians,

Binance Futures will adjust the leverage and margin tiers of the USDⓈ-M MTLUSDT Perpetual Contract at 2023-06-07 14:30 (UTC), as per the table below.

In addition, Binance will increase the funding rate settlement frequency of the USDⓈ-M MTLUSDT Perpetual Contract at 2023-06-07 16:00 (UTC).

Existing positions opened before the update will be affected. It is strongly advised to adjust the position and leverage prior to the adjustment in order to avoid any potential liquidation.

Updates to Leverage & Margin Tiers:

MTLUSDT (USDⓈ-M Perpetual Contract)

Previous Leverage and Margin Tiers			New Leverage and Margin Tiers
Leverage Before Change	Position Before Change (Notional Value in USDT)	Maintenance Margin Rate Before Change	Leverage After Change	Position After Change (Notional Value in USDT)	Maintenance Margin Rate After Change
11 - 15x	0 < Position ≤ 5,000	2.00%
9 - 10x	5,000 < Position ≤ 25,000	2.50%	9 - 10x	0 < Position ≤ 25,000	2.50%
6 - 8x	25,000 < Position ≤ 600,000	5.00%	6 - 8x	25,000 < Position ≤ 600,000	5.00%
5x	600,000 < Position ≤ 1,600,000	10.00%	5x	600,000 < Position ≤ 1,600,000	10.00%
3 - 4x	1,600,000 < Position ≤ 2,000,000	12.50%	3 - 4x	1,600,000 < Position ≤ 2,000,000	12.50%
2x	2,000,000 < Position ≤ 4,000,000	25.00%	2x	2,000,000 < Position ≤ 4,000,000	25.00%
1x	4,000,000 < Position ≤ 6,000,000	50.00%	1x	4,000,000 < Position ≤ 6,000,000	50.00%

Updated Funding Rate Settlement Frequency of USDⓈ-M MTLUSDT Perpetual Contract:

Time	Max Funding Rate of MTLUSDT Perpetual Futures Contract
2023-06-07 16:00 (UTC)	2.50% / -2.50%
2023-06-07 20:00 (UTC)	2.50% / -2.50%
2023-06-08 00:00 (UTC)	2.50% / -2.50%
2023-06-08 04:00 (UTC)	2.50% / -2.50%
2023-06-08 08:00 (UTC)	2.50% / -2.50%
2023-06-08 12:00 (UTC)	2.50% / -2.50%
…	2.50% / -2.50%

Please Note:

The capped funding rate multiplier for the USDⓈ-M MTLUSDT Perpetual Contracts was raised from 0.75 to 1.
Capped Funding Rate = clamp (Funding Rate, -1 * Maintenance Margin Ratio, 1 * Maintenance Margin Ratio). For more on funding rate, please refer to Introduction to Binance Futures Funding Rates.
It is important to note that the maintenance margin change will directly affect liquidation price. Users who hold existing positions of the USDⓈ-M MTLUSDT Perpetual Contract will be affected. To avoid being liquidated (i.e., margin ratio hits 100%), please add more margin to your USDⓈ-M Futures account or reduce your positions. It is recommended to control the margin ratio below 80%.
In order to protect users and prevent potential risks in extremely volatile market conditions, Binance Futures may undertake additional protective measures toward the USDⓈ-M MTLUSDT Perpetual Contract without further announcement, including but not limited to adjusting the maximum leverage value, position value, and maintenance margin in each margin tier, updating funding rates such as the interest rate, premium, funding rate settlement frequency and capped funding rate, changing the constituents of the price index, and using the Last Price Protected mechanism to update the Mark Price.
Where any discrepancy arises between the translated versions and the original English version, the English version shall prevail.

For more information:

Trading Rules of USDⓈ-M Futures Contracts
Leverage and Margin of USDⓈ-M Futures Contracts

Mark Price and Price Index
Introduction to Binance Futures Funding Rates

Thanks for your support!

Binance Team

2023-06-07

Trade on-the-go with Binance’s crypto trading app (iOS/Android)

Find us on

Telegram
Twitter
Facebook
Instagram

Binance reserves the right in its sole discretion to amend or cancel this announcement at any time and for any reasons without prior notice.

Risk Warning: Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance is not liable for any losses you may incur. Futures trading, in particular, is subject to high market risk and price volatility. All of your margin balance may be liquidated in the event of adverse price movement. Past performance is not a reliable predictor of future performance. Before trading, you should make an independent assessment of the appropriateness of the transaction in light of your own objectives and circumstances, including the risks and potential benefits. Consult your own advisers, where appropriate. This information should not be construed as financial or investment advice. To learn more about how to protect yourself, visit our Responsible Trading page. For more information, see our Terms of Use and Risk Warning.

Read the original article at binance

Stay tuned to CoinCarp Social Media and Discuss with Us:

X (Twitter) | Telegram | Reddit

Download CoinCarp App Now: https://www.coincarp.com/app/