Dear Users,
BingX has adjusted the maintenance margin rate for some Perpetual Futures trading pairs on 2024-09-06 (UTC+8). After the adjustment, some Perpetual Futures trading pairs (like NOTUSDT and WIFUSDT) now offer up to 75x leverage, which is significantly higher than the market average. With the new maintenance margin rate, users trading with high leverage are more likely to trigger liquidation compared to the previous maintenance margin rate.
BingX highly values feedback from the community and has promptly adjusted the maintenance margin rates for the related tokens. BingX will fully compensate users who incurred losses due to this issue. Affected users are requested to submit feedback to our customer support by 2024-09-15. We will verify your case and process your compensation in the first instance.
Additional Info on BingX's Liquidation Mechanism:
Liquidation occurs when the remaining margin is insufficient to cover the "maintenance margin + liquidation fee". The maintenance margin is calculated as follows:
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Maintenance Margin = Notional Position Value * Maintenance Margin Rate
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When users open a position: Notional Position Value = Initial Margin * Leverage
When users trade with high leverage, their initial notional position value is higher, which means they require more maintenance margin. This increases the risk of liquidation during volatile markets.
For more details, please refer to: Perpetual Futures | Forced Liquidation Rules
We sincerely apologize for any inconvenience caused. Thank you for your understanding.
BingX Team
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