EnglishPlease download the latest version of the Binance App to access this function on mobile (Android:1.30.0 & iOS:2.19.0).
In addition to the regular repayment method (USDT repayment), you can also choose to use the Collateral Repayment function in your Futures Wallet to trade, or sell the collateral to get USDT for repayment.
For example, when all the assets in your account are used as collateral and your wallet does not have enough USDT to repay the mortgage, you can choose to release the frozen assets (BTC, ETH, EUR) and directly exchange them into USDT to repay the borrowed USDT amount, the remaining assets after repayment will be returned to your Spot Wallet in the original asset.
How to repay a loan with collateral?
1. Click [Futures Wallet] - [Futures] after logging into your Binance account.
2. Scroll down to [Collaterals] and click [Repay] next to the collateral you want to repay.
3. Enter the repayment amount and tick [Repay with collateral]. Please confirm the repayment within 25 seconds, or the exchange rate will expire and you have to click [Refresh] before it can be repaid.
After confirming the repayment, the system will transfer the USDT obtained from the transaction to your Futures Wallet as repayment. The amount of collateral required for repayment = Repayment amount/Quoted rate
You can calculate the amount of collateral that can be returned:
Assuming that the index price of the Collateral coin/USDT is P:
- If LTV <= initial LTV, return amount = (USDT repayment amount / initial LTV) / P- collateral repayment amount;
- If LTV > initial LTV, return amount = max{0, collateral paid-(borrowed amount-current repayment amount) / initial LTV / P-collateral repayment amount};
- If you choose to repay in full with collateral, the remaining collateral will be returned
4. After successful repayment, you can go to [Orders] - [Futures Order] to view the record in the [Repayment] tab. The repayment type will be recorded as ‘Collateral’.
