Binance Margin: Get a One-Hour Interest Fee Waiver When Borrowing Selected Cryptocurrencies! (2024-02-27)

This is a general announcement. This announcement is not intended for users in regions where products and services referred to here are not available.

Fellow Binancians,

Binance Margin is extending a new promotion for BTC, ETH, SOL, MATIC, XRP, FIL, WLD, LPT, DOGE, HBAR, VET, GRT, ARB, OP, LINK, FET and AGIX at 2024-02-27 09:00 (UTC).

Promotion Period: 2024-02-27 09:00 (UTC) to 2024-03-12 09:00 (UTC)

During the Promotion Period, all users who borrow any of these eligible cryptocurrencies on Binance Margin, will automatically receive a one-hour interest fee waiver.

Example:

User A and User B have each borrowed 10 BTC at 2024-02-27 09:20 (UTC). Both User A and User B then complete repayment on the same day at 10:15 (UTC) and 09:55 (UTC) respectively.
Given that interest on Binance Margin accrues at the start of every hour (e.g., at 09:00, 10:00, etc.), User A and User B should be charged for two hours and one hour of interest respectively under standard circumstances (i.e., outside of the Promotion Period).
Assuming that the hourly interest rate for borrowing BTC is 0.001%, User A will be charged an interest of [0.001% * 10 BTC * (2 - 1) hours] = 0.0001 BTC, since users will automatically receive a one-hour interest fee waiver during the Promotion Period.
On the other hand, since User B has completed repayment within the first hour of borrowing, there is no interest charged. The interest calculation is as follows: [0.001% * 10 BTC * (1 - 1) hours] = 0 BTC.

For more, refer to Binance Margin’s dynamic interest rate system.

Guides & Related Information:

Margin Trading Overview
How to Use Short on Margin Trading
How to Use Long on Margin Trading
Binance Margin’s Dynamic Interest Rate System

Terms & Conditions:

Please refer to Margin Data for a list of the most updated marginable assets and further information on specific limits, collateral ratio and rates.
Binance reserves the right to disqualify trades that are deemed to be wash trades, illegal bulk account registrations, self-dealing, or display signs of market manipulation, etc.
Binance reserves the right to determine and/or amend or vary these Terms & Conditions, its eligibility terms and criteria, the selection and number of winners, and the timing of any act to be done if it is justified due to important reasons, including but not limited to:
- Changes in applicable regulations or policies;
- Obligations arising out of law or decisions issued by common courts or public administration;
- Anti-money laundering or combating financing terrorism rules;
- Technical issues beyond our control;
- Necessity to protect users from potential losses;
- Necessity to protect Binance from the loss of reputation;
- Extraordinary events or circumstances beyond our control (force majeure).
There may be discrepancies in the translated version of this original article in English. Please reference this original version for the latest or most accurate information where any discrepancies may arise.