Binance Will Adjust the Minimum Price Accuracy for U-margin Perpetual Contract Pairs from August 1st Vietnam Time.
This change will not affect current trading and activities, and the API will be updated to reflect the new price accuracy.
- Minimum price accuracy for U-margin contracts will be changed from August 1st.
- Current trading and operations will not be interrupted during the adjustment.
- API will synchronously update price accuracy information, with current orders remaining unchanged.
What is Binance's Adjustment of U-margin Contract Price Accuracy?
Binance will upgrade the minimum price accuracy - the smallest price change - for some perpetual contracts using U-margin, starting from 15:00 on August 1st Vietnam Time (East 8 Convention).
This update aims to increase accuracy in price processing on Derivative trading, support the system with large trading volume, and improve user experience.
Official information from Binance confirms that the adjustment will not disrupt ongoing trades and operations on the platform.
How Will You Be Affected by Binance's Price Accuracy Adjustment?
U-margin contract trading will continue to operate normally, without interruption or financial changes during the adjustment.
Existing orders will maintain their original price accuracy in the order matching system, which will process them in a way that does not disrupt user experience.
Binance's API will also be synchronously updated, helping users and developers easily track the new parameters through the GET /fapi/v1/exchangeInfo endpoint.
Updating price accuracy helps enhance the performance and stability of the Derivative trading platform, while facilitating more precise trading strategies.
Statement by Binance Technical Director, July 2024
How to Track Price Accuracy Updates on Binance API?
Users and programmers can access the API endpoint GET /fapi/v1/exchangeInfo to check the latest information on price accuracy for U-margin perpetual contracts.
Binance commits to synchronous updates to ensure the technology ecosystem - especially automated trading tools or bots - operates correctly with the new configuration.
Transparency and continuous API updates help enhance experience and reliability for the cryptocurrency investor community using the service.
Why Does Binance Maintain Price Accuracy for Orders Placed Before the Update?
The system will not change the price accuracy of existing orders to avoid disrupting trading experience or causing price discrepancies.
This ensures users do not need to readjust running orders before the change, reducing risks in order matching and maintaining market stability.
Binance chose this approach based on experience in managing Derivative markets effectively and transparently, maintaining high customer trust.
How Will the Upcoming U-margin Contract Price Accuracy Update Affect Investors?
Investors will be able to leverage better price accuracy, thereby making more optimized trading decisions, especially in short-term trading strategies requiring high price detail.
According to an internal report from June 2024, fine-tuning price accuracy helps minimize price deviations when pricing orders in highly volatile markets, enhancing risk management effectiveness.
This is an important technological upgrade to consolidate Binance's position in cryptocurrency Futures trading.
Frequently Asked Questions
Will Price Accuracy Adjustment Affect Trading Fees?
This adjustment will not impact trading fees; all costs remain unchanged according to Binance's current policy.
Do I Need to Readjust My Open Orders?
No, the system will process orders according to the old accuracy to avoid errors, and you do not need to change current orders.
How Can I Know the New Price Accuracy Has Been Applied on Binance?
You can check through the API GET /fapi/v1/exchangeInfo or official notifications from Binance after August 1st.
Are There Any Other API Changes Besides Price Accuracy?
This update only affects parameters related to price accuracy, with the API maintaining all other normal functions.
What Benefits Does the New Price Accuracy Offer Professional Traders?
Higher accuracy helps algorithmic trading strategies and technical analysis be executed more precisely and effectively.
