1. What Is Trial Fund?
BingX Trial Fund comes in two forms: Trial Fund Vouchers and Trial Fund balance. Trial Fund Vouchers can be viewed in My Vouchers, while the 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 Trial Funds cannot be withdrawn, but the profits generated from them can be withdrawn.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 were adjusted starting from 2024-12-17. 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.
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Scenarios |
Requirements |
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Redeemable |
No old Trial Fund balances. |
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User has old Trial Fund balances with the same Offset Ratio as the new Trial Fund. |
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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. |
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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. |
Example: User A receives and redeems Trial Fund Voucher 1 with a face value of 100 USDT and an offset ratio of 20%. Later, User A receives Trial Fund Voucher 2 with a face value of 5 USDT and an offset ratio of 50%. At this point, User A needs to use up or remove the Trial Fund balance from voucher 1 before redeeming voucher 2.
2.4 Trial Fund Balance
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 Fund Balance
Example 1: 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 2: 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 of 172 USDT and 28 USDT Trial Funds.
3. When Trial Funds Become Invalid
Trial funds must be redeemed and used during the validity period. Otherwise, they will expire.
*When your Trial Funds expire, the system will recover them without affecting your position's risk level. Here are two examples to illustrate this process:
Example 1:
• Suppose your position's initial margin is 210 USDT, including 60 USDT in Trial Funds. When the trial funds expire and your account has no other available funds:
• The system won't immediately remove the expired trial funds. The system will reassess whether to remove them after the position is closed.
Example 2:
• Suppose your position's initial margin is 210 USDT, including 60 USDT in Trial Funds. When the trial funds expire and your account has available funds:
• The system will remove the expired trial funds. To maintain the position's risk level and prevent liquidation, an equivalent amount from your available funds will automatically become position margin.
Transferring out USDT funds will result in the removal of Trial Fund balance in the account. Transfers in other cryptocurrencies will not affect it. The system will alert users with a popup when they attempt to transfer.
Example One: User A has 20 USDT Trial Fund balance in their Perpetual Futures Account. If User A transfers 0.1 USDT to Standard Futures Account or Spot Account from Perpetual Futures Account, the entire Trial Funds will be removed.
Example Two: User A has 20 USDT Trial Fund balance in their Standard Futures Account. If User A transfers 0.1 ETH to Fund Account from Standard Futures Account, the Trial Fund balance will not be affected.
Withdrawal or internal transfer (to another BingX account) of any cryptocurrency will result in the removal of the Trial Fund in all accounts.
Example: User A has 10 USDT Trial Fund in their Perpetual Futures Account and 5 USDT Trial Fund in their Standard Futures Account. If User A makes an internal transfer of 0.5 ETH, the Trial Funds in both the Perpetual Futures Account and Standard Futures Account will be removed.
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.
