How to Use the Auto Borrow and Auto Repay Functions?
[Estimated Reading Time: 3 mins]
This guide explains how to utilize the Auto Borrow and Auto Repay features on the Bitget platform to streamline your spot margin trading activities. These functions automate the borrowing and repayment processes, enabling you to focus on trading effectively.
What Are the Auto Borrow and Auto Repay Features?
The Auto Borrow feature is enabled by default and allows the system to automatically borrow the required funds when you place a spot margin order, eliminating manual intervention. The Auto Repay feature facilitates quick and efficient repayment of borrowed amounts directly from your available assets when closing positions.
Key Benefits
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Convenience: Automatically borrow or repay funds as needed.
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Time-Saving: Reduces manual steps during spot margin trading.
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User-Friendly: Provides a seamless trading experience.
How to Use the Auto Borrow Function?
Step 1: Navigate to the Spot Margin Trading section.
1. Go to Spot Margin Trading section.
2. Select your desired trading pair (e.g., BTC/USDT).
Step 2: Adjust Leverage and Place Your Order
1. Control the borrowing limit by adjusting the leverage multiplier to your preferred level (e.g., 5x, 10x, etc.).
2. Ensure you have sufficient funds in your account to support the required margin.
3. Place your order (e.g., a buy or sell order).
Step 3: Auto Borrow Execution
1. The system will automatically borrow the necessary amount to execute the order.
2. No additional manual steps are needed to borrow funds, as the system handles it automatically during the order placement.
How to Use the Auto Repay Function?
Step 1: Navigate to Spot Margin Trading Section
1. Go to the Margin Trading section.
2. Click the Assets tab to view all your active positions and borrowed amounts.
Step 2: Select One-Click Repayment
1. Identify the trading pair with the borrowed amount (e.g., BGB/USDT).
2. Click the One-click Repayment button located on the right-hand side of the screen.
Step 3: Review Repayment Details
1. A popup window will display the total debt amount.
2. Review the Repayment Terms:
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The available debt currency will be prioritized for repayment.
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Any remaining debt will be repaid by converting your available assets into the required currency using market orders.
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Repayment may be affected by market volatility, resulting in partial repayments.
Step 4: Confirm Repayment
1. After reviewing the details, click Confirm to proceed with repayment.
2. The system will automatically repay the borrowed amount, and the transaction will be reflected in your account.
Notes and Precautions
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Auto Borrow: Ensure you have sufficient collateral in your account to support margin trading before placing an order.
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Market Volatility: Repayment may be subject to market volatility, which can affect the actual execution price.
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Partial Repayments: In certain scenarios, only a portion of the debt may be repaid due to risk controls or insufficient liquidity.
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Position Data: Repayment may affect position data. Ensure you review your account details after completing the process.
FAQs
1. What Is Auto Borrow?
Auto Borrow automatically borrows funds when you place a margin trade, eliminating manual borrowing.
2. Can I Adjust Borrowed Amounts After Auto Borrow?
No, the system determines the borrowed amount based on your trading parameters.
3. What Happens Without Enough Collateral?
The system won’t execute the trade if your collateral is insufficient.
4. Does Auto Repay Settle All Debts?
It repays using available funds and converts assets via market orders if needed.
5. Are There Additional Fees for These Features?
No extra fees, but margin trading fees and interest apply.
Disclaimer and Risk Warning
All trading tutorials provided by Bitget are for educational purposes only and should not be considered financial advice. The strategies and examples shared are for illustrative purposes and may not reflect actual market conditions. Cryptocurrency trading involves significant risks, including the potential loss of your funds. Past performance does not guarantee future results. Always conduct thorough research, understand the risks involved. Bitget is not responsible for any trading decisions made by users.
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