
1. What Is Trial Fund?
BingX Trial Fund consists of two forms: Trial Fund voucher and Trial Fund balance. The Trial Fund voucher can be viewed in My Vouchers, while Trial Fund balance can be viewed in Assets -> Futures Account.
Users need to redeem the Trial Fund voucher into Trial Funds in order to use them with their own assets as Futures margin or to offset trading losses. When used for offsetting fees, the Trial Fund and the user's own funds will be deducted proportionally. Trial Funds cannot be withdrawn, but the profits generated from them can be withdrawn.
Note: The Trial Funds offset rules will be adjusted from 2024-12-17 onwards. For more information, please refer to Adjustments to Futures Trial Fund Offset Rules
2. How to Use Trial Fund
For vouchers with unlocking thresholds, they will remain in the "Invalid" state until the corresponding threshold is met, after which, the "Redeem" button shows up.
When the voucher is designated for Standard Futures, the Standard Futures Account will receive the redeemed Trial Funds.
When the voucher is designated for Futures, it is up to users to decide which account will receive the Trial Funds, either Perpetual Futures Account or Standard Futures Account.
Scenarios |
Requirements |
Redeemable |
No old Trial Fund balances. |
User has old Trial Fund balances with the same Offset Ratio as the new Trial Fund. |
|
Redeemable. Users are required to manually confirm the removal of the old Trial Fund balances. |
User has old Trial Fund balances with a different Offset Ratio as the new Trial Fund. However, there are no open positions or pending orders using the old Trial Fund. |
Not redeemable |
User has old Trial Fund balances with a different Offset Ratio as the new Trial Fund. However, there are open positions or pending orders using the old Trial Fund. |
2.4.1 Check Trial Fund Balance
Once redeemed, the Trial Fund will be transferred to the corresponding Standard Futures or Perpetual Futures account for usage. Go to "Assets" and click on "Futures" to check the Trial Fund balance, Offset Ratio and expiration time.
2.4.2 Use Trial Funds
Trial Funds can be used as margin or to offset losses, funding fees and Guaranteed Price (GTD Price) fees. When used for offsetting fees, Trial Funds and the user's own funds will be deducted proportionally. If the Trial Fund balance is insufficient, the shortfall will be covered by the user's own funds, and vice versa. The deduction details can be checked in the historical records of Fund Account.
Example One: Assume that User A's Guaranteed SL order is filled with a trading fee of 10 USDT, GTD Price fee of 10 USDT and realized loss of 100 USDT. User A's own assets available in the Perpetual Futures Account is 100 USDT, in addition to a Trial Fund balance of 30 USDT with an Offset Ratio of 30%.
Deduction details:
1. Trading fee - 10 USDT: 10 USDT of User A's own assets is deducted.
2. GTD Price fee - 10 USDT: The system deducts 7 USDT of the user's own assets plus 3 USDT Trial Fund.
3. Realized loss - 100 USDT: The remaining Trial Fund is 27 USDT, which is less than 100 USDT * 30% = 30 USDT; in this case, the system deducts all the remaining Trial Funds and 73 USDT of the user's own assets.
Example Two: Assume that User A's order is liquidated with a trading fee of 5 USDT and a realized loss of 200 USDT. User A's own assets available in the Perpetual Futures Account is 177 USDT, in addition to a Trial Fund balance of 30 USDT with an Offset Ratio of 10%.
Deduction details:
1. Trading fee - 5 USDT: 5 USDT of User A's own assets is deducted.
2. Forced liquidation - 200 USDT: The remaining assets are less than 200 USDT * 90% = 180 USDT; in this case, the system deducts all the remaining assets and 28 USDT Trial Funds.
3. Scenarios Rendering the Trial Fund Invalid
*When your Trial Funds expire, the system will recover them without affecting your position's risk level. Here are two scenarios to illustrate this process:
Scenario 1:
• Suppose your position's initial margin is 210 USDT, including 60 USDT in Trial Funds. Your account lacks sufficient available funds when the Trial Funds expire.
• The system will not recover the expired funds temporarily. It will reassess whether to recover the Trial Funds after the position is closed.
Scenario 2:
• Suppose your position's initial margin is 210 USDT, including 60 USDT in Trial Funds, and your account has enough available funds when the Trial Funds expire.
• The system will recover the expired Trial Funds. To ensure that the position's risk level remains unchanged and to avoid liquidation risks, an equivalent amount of funds from your account will automatically be used as margin.
Example One: User A has 20 USDT Trial Fund balance in his/her Perpetual Futures Account. If User A transfers 0.1 USDT to Standard Futures Account or Spot Account, the entire Trial Funds will be removed.
Example Two: User A has 20 USDT Trial Fund balance in his/her Standard Futures Account. If User A transfers 0.1 ETH to Fund Account, the Trial Fund balance will not be affected.
4. Additional Notes on Trial Fund
Notes:
1. If malicious attempts to obtain Trial Funds are detected, BingX has the right to dispose of the relevant account to recover the losses. BingX reserves the right to the final interpretation of Trial Funds.
2. From 2023-08-01 onwards, BingX will no longer support the transfer of Trial Funds between different futures account.