Updates on Leverage, Margin Tiers, and Funding Rate Settlement Frequency of USDⓈ-M XVGUSDT Perpetual Contract (2023-07-06) | Binance Support

Binance 2023-07-06 09:41:00

Fellow Binancians,
Binance Futures will make adjustments to the leverage and margin tiers of the USDⓈ-M XVGUSDT Perpetual Contract on 2023-07-06 at 16:30 (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. 
New Leverage & Margin Tiers of the USDⓈ-M XVGUSDT 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)
 
           16 - 20x
 
           0 < Position ≤ 5,000
 
           2.00%
 
           11 - 15x
 
           5,000 < Position ≤ 25,000
 
           2.50%
 
           11 - 20x
 
           0 < Position ≤ 25,000
 
           2.50%
 
           6 - 10x
 
           25,000 < Position ≤ 200,000
 
           5.00%
 
           6 - 10x
 
           25,000 < Position ≤ 200,000
 
           5.00%
 
           5x
 
           200,000 < Position ≤ 500,000
 
           10.00%
 
           5x
 
           200,000 < Position ≤ 500,000
 
           10.00%
 
           3 - 4x
 
           500,000 < Position ≤ 1,000,000
 
           12.50%
 
           3 - 4x
 
           500,000 < Position ≤ 1,000,000
 
           12.50%
 
           2x
 
           1,000,000 < Position ≤ 3,000,000
 
           25.00%
 
           2x
 
           1,000,000 < Position ≤ 3,000,000
 
           25.00%
 
           1x
 
           3,000,000 < Position ≤ 5,000,000
 
           50.00%
 
           1x
 
           3,000,000 < Position ≤ 5,000,000
 
           50.00%
 
Binance Futures will increase the funding rate settlement frequency of USDⓈ-M XVGUSDT Perpetual Contract from every eight hours to every four hours starting from 2023-07-06 at 16:30 (UTC). The detailed arrangement is as follows:
 
           Time
 
           Max Funding Rate
 
           2023-07-06 20:00 (UTC)
 
           +2.50% / -2.50%
 
           2023-07-07 00:00 (UTC)
 
           +2.50% / -2.50%
 
           2023-07-07 04:00 (UTC)
 
           +2.50% / -2.50%
 
           2023-07-07 08:00 (UTC)
 
           +2.50% / -2.50%
 
           2023-07-07 12:00 (UTC)
 
           +2.50% / -2.50%
 
           …
 
           …
 
Notes:
The capped funding rate multiplier for the USDⓈ-M XVGUSDT 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.
The funding rate settlement frequency will be increased from every eight hours to every four hours starting from 2023-07-06 at 16:30 (UTC).
Maintenance margin rate change will affect the funding rates of the USDⓈ-M XVGUSDT Perpetual Contract. For more details on funding rate, please refer to Introduction to Binance Futures Funding Rates.
In order to protect the users and prevent potential risks in extremely volatile market conditions, Binance Futures may undertake additional protective measures toward the USDⓈ-M XVGUSDT 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 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:
Liquidation Protocols
Leverage and Margin of USDⓈ-M Futures Contracts
Introduction to Binance Futures Funding Rates
Thanks for your support!
Binance Team
2023-07-06

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