Attention contract players! Attention contract players! Attention contract players!

Binance contract liquidation will now incur a fee, the liquidation fee is

1.5%

For example, if the liquidation fee is 1.5%, and you open a position with 49x leverage, that means 1.5%x49=73.5%. If liquidation occurs, you will be charged 73.5% of your initial margin.

This serves as a warning to everyone that if your contract is close to the liquidation price, you need to manually close your position or set a stop-loss order to avoid liquidation!!!

The first liquidation will incur a liquidation fee; the second liquidation will have no commission rebate on the liquidation fee. If you manually close your position at the liquidation price, the commission will have a rebate, and you might still have a little bit left in your account.

Of course, whether the stop-loss can be executed depends on the liquidity of the market and slippage.

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