If you receive the error message “Insufficient Balance” when trying to open a margin position on Bitfinex, this may be due to various reasons.
What are the reasons for “Insufficient Balance” error
No funding available
When trading on margin, you may need to receive funding from funding providers, depending on your position value and your collateral.
If funding is required, but there is no funding provider available, your order will be cancelled with the status message “Insufficient Balance”, which could mean no funding available when the order should have been executed.
Not enough tradable balance
To open positions on Bitfinex, you will need to have a tradable balance used as collateral to place orders for a certain amount.
However, as the market moves, it may be that the value of your collateral decreases, and you no longer have enough tradable balance for executing the entire order.
Funding is over 0.75%
An order can be cancelled if the funding rate of all available funding is over 0.75%* and the Maximum Margin Rate option is checked in the Advanced Funding Options. When this is selected, the platform will not take funding over 0.75%* when opening new positions.
*The %/day rate can be manually adjusted.
Market order max buy
Due to slippage, it is possible that a part of your order will be cancelled due to an insufficient tradable balance.
If you have any inquiries, please feel free to contact Bitfinex Support. We are always happy to help!