Binance Coin-Margined Futures Position Mode to Upgrade, Aligning with USDT-Margined Futures on June 15th

BlockBeats News, June 2nd, Binance announced that starting from June 15th at 11:00 (UTC+8), it will upgrade the position mode of Coin-Margined Futures contracts. After the upgrade, the position mode setting of Coin-Margined Futures contracts will be synchronized with that of USDT-Margined Futures contracts. If a user has set different position modes in the two markets, the system will automatically override the Coin-Margined Futures contract setting with the USDT-Margined Futures contract setting.

For example, if a user uses the "Hedge Mode" in the USDT-Margined Futures contract and the "One-way Mode" in the Coin-Margined Futures contract, after the upgrade, both will be unified to "Hedge Mode." The upgrade is expected to be completed in about 24 hours. During this period, Coin-Margined Futures contract trading operations will not be affected, but some users may experience intermittent trading interruptions. Simply retrying will restore normal operation.

Binance reminds users that if the position mode settings in the two markets are different, during the synchronization process, all open orders in the Coin-Margined Futures contract (including reduce-only orders and take profit/stop loss orders) will be canceled. If switching from Hedge Mode to One-way Mode with both long and short positions, the system will perform a net settlement of the long and short positions at the current mark price, establish a new position in the net position direction, and the average entry price and account balance may undergo significant changes as a result. Users will bear the gains or losses themselves. It is recommended that users proactively adjust the position mode of the Coin-Margined Futures contract to match that of the USDT-Margined Futures contracts before the upgrade to avoid triggering the automatic switch mechanism.