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Position Switch allows users to efficiently switch from one UM position to another with just a few clicks. Users can switch to another symbol, side, direction, or position amount - allowing you to react swiftly to market movements, trends, and news.
Simply click the [Switch] button on your existing UM positions, specify the amount of your current position to close and the symbol you want to switch to. You will then receive back a quotation showing the price and quantity for both the closing and new positions.
1. Login to your Binance App and go to [Futures] - [...]. Select [Classic] for Trade Mode.
2. On the Futures Trading Page, tap [...] - [Preferences].
3. Under ‘Layout’, select [Button Settings in Positions], enable [Switch], then drag it up as one of the first four buttons to display on the Positions tab.
4. Find your Position under Position Tab and tap [Switch].
5. Select the Symbol, Side, and Position Size you’d like to switch the position to. Tap [Switch] to convert your existing position.
6. View the new order details and tap [Confirm]. The new position will be opened at the indicated price in the confirmation window.
1. Login to your Binance app and go to [Futures] - [...]. Tap [Easy] for Trade Mode.
2. Find your Position under Position Tab and tap [Switch].
3. Select the Symbol, Side, and Position Size you’d like to switch the position to. Tap [Switch] to convert your existing position.
4. View the new order details and tap [Confirm]. The new position will be opened at the indicated price in the confirmation window.
1. Is there a possibility that the Position Switch will only be partially executed?
Yes, a Position Switch consists of two parts: (i) closing an existing position; and (ii) opening a new position. There is a possibility that the opening of the new position might not be filled for various reasons such as a drastic change in the markets or change in your available margin balance during the settlement process. However, we anticipate these occurrences will be limited.
2. How is margin considered under Position Switch?
Position Switch uses a conservative approach to minimize the execution risk. Users will need to meet the initial margin requirements of opening a position without the margin being released from the closing position transaction.
3. Are there any fees associated with using Position Switch?
The quotation provided in response to your Position Switch request is an all-in price. No additional fees are charged with using Position Switch.
4. Can I cancel a position switch transaction once it has been initiated?
When users initiate a Position Switch, they are first presented with a quote showing the quantity and price for both the position they are closing and the position they are switching to. Users do not have to accept this quote; however, once users press the confirm button to accept the quote the user will not be able to cancel the request for the Position Switch. Binance will then decide whether to accept the request and proceed to settlement, or to reject the request.
5. Are there any risks associated with using Position Switch?
In addition to the risk inherent with futures trading, Position Switch also carries the risk of partial execution as explained question #1. Please refer to the Easy Futures Terms for more details on the risks.
6. Are Position Switch/Easy Futures available under Binance Credit mode?
No, neither Position Switch nor Easy Futures are supported under Binance Credit mode.
7. Why is Position Switch/Easy Futures not available for some countries?
As a market leader focused on regulatory compliance, Binance is constantly evaluating its product offerings as regulations and guidance develop. This is why the availability of certain products varies in different regions.
Disclaimer: 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. You may be called upon at short notice to make additional margin deposits or interest payments. If the required margin deposits or interest payments are not made within the prescribed time, your collateral may be liquidated. Moreover, you will remain liable for any resulting deficit in your account and interest charged on your account. 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.
