With Margin Funding on Bitfinex, users with Intermediate verification level* and above can provide funds through the peer-to-peer (P2P) funding platform for traders to use in Margin Trading and earn interest that is generated.
*Important:
- The Intermediate verification level is required to access Margin Funding. This applies to users who created an account after March 1, 2022.
- The Basic Plus verification level is required for accounts created between January 1st, 2022 and March 1st, 2022.
- Accounts created before these dates will continue without having to upgrade their verification levels.
Once you have borrowed your funds via Margin Funding, you can manage these funding bids by closing them or renewing/keeping them
How to close Margin Funding on Bitfinex
You can close or replace the Margin Funding that is being used to cover your margin trading position with a more desirable funding rate if available.
For unused funding
1. From the Funding page, navigate to the Taken: Unused section, and you will see your currently reserved Margin Funding.
2. Here, you will find checkboxes to the right of each funding loan that you have taken. These checkboxes allow you to close specific loans that you may not want to keep based on prevailing interest rates in the funding order book.
3. Check a box and select Close from the top right-hand corner to close a funding loan. After that, you will be prompted to confirm your option.
For used funding
1. From the Funding page, navigate to the Taken: Using section, and you will see the funding you are currently using.
2. Here, you will find checkboxes to the right of each funding loan that you are using. These checkboxes allow you to close specific loans that you may not want to keep based on prevailing interest rates in the funding order book.
3. Check a box and select Close from the top right-hand corner to close a funding loan. After that, you will be prompted to confirm your option.
How to renew/keep Margin Funding
If you do not wish to return your current funding after your position is closed, you can select the option to keep your funding. This allows you to continue using the chosen funding loans as long as the lending period set by the funding provider permits.
1. First of all, from the Funding page, navigate to the Taken: Using or Taken: Unused sections, and you will see your currently reserved Margin Funding.
2. You will find an asterisk next to each funding loan. These asterisks allow you to keep the loans you want if they are more suitable than the current offers in the funding book.
3. You can also use the checkbox to select multiple funding loans and keep these ones using the Keep On option at the top right.
Note: If the Keep On function is not enabled, the borrowed funds will be automatically returned once a position is closed.
If you have any inquiries, please feel free to contact Bitfinex Support. We are always happy to help!
