If any of you margin trade on Binance, then this post is definitely for you. Prior to writing up this post, it surprised me to find out that a lot of people who trade on margin don't even know how much interest they pay to borrow the funds. When I did the calculation, it was quite surprising to find out just how much it costs to borrow or trade on margin.
That's not to say that margin trading is bad. Margin trading can be quite lucrative, just as long as you understand and accept the risks associated with it prior to entering a margin trade.
Here's a short 4 minute video where I show you how to find and calculate the margin interest rates on Binance. Although I use BINANCE in the video, the math is the same regardless of crypto exchange.
Hopefully the video has given you a better idea on how to calculate margin interest. I've always wondered why Binance gives such high interest on their savings program. I now understand why that's the case.
Save 10% on your trading fees on BINANCE
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