Futures positions opened with a voucher: loss cover, locks and history
Spotting a voucher position
An open futures position that was funded partly by a voucher shows a tag "Voucher [amount] USDT" in your positions list. While the waiting time is running it also shows "Loss cover starts [time]".
When loss cover starts
Loss cover means that if the position is losing, the loss is taken from the voucher before your own money. It starts only after a waiting period measured in minutes. The number is set by BYNAI and shown on the order form ("Losses use the voucher first after [number] min.") and on My Vouchers. Until the time in Loss cover starts [time] has passed, a loss is not taken from the voucher.
Your profit is always yours. Fees are always paid by you. The voucher is spent when the order is placed and does not come back when you close the position.
What is locked while a voucher position is open
While you hold a voucher position on a pair:
- Leverage and margin mode cannot be changed for that pair. You see "Leverage and margin mode are locked while a voucher position is open." The Leverage button is disabled and the leverage and margin mode windows show the same note. Close the voucher position, then you can change them.
- You cannot remove the voucher part of the margin. In the position's margin window, only your own margin can be removed. If you try to remove voucher margin you see "Voucher margin can't be removed". A request that tries this can also be rejected with "The voucher part of the margin can't be removed."
- You cannot increase or change that position while it uses a voucher. The message is "This position uses a voucher, so it can't be increased or changed." To trade more, close the position and open a new one.
The lock applies per trading pair, whether the position is long or short. A position you opened without a voucher is not locked.
Closed position history
In your closed positions (trade history) a position that used a voucher shows three lines:
| Label | Meaning |
|---|---|
| Voucher margin | How much voucher was used as margin for the position. |
| Covered loss | How much of the loss the voucher took on your behalf. |
| Expired unused | The part of the voucher that did not cover a loss. It is not returned. |
On My Vouchers, Recent uses has a line labelled Futures position. For futures, amounts are shown as "Applied [amount]", "Used [amount]" and "Still in use [amount]". A "returned" amount is not shown for futures because a futures voucher is not returned.
Loss cover used and the lifetime limit
On My Vouchers and the Assets page, Loss cover used is the total of voucher that really covered losses. The note says "Only vouchers that covered real losses count. Trials don't." Each account has a lifetime limit for this total. When it is reached, new voucher orders are rejected with "You've reached the lifetime voucher limit." and vouchers can no longer be used for futures. The limit amount is not shown in the app.
Example
You open a long position with a voucher paying part of the margin. For the first minutes, the tag reads "Loss cover starts [time]". After that time, if the position loses money, the voucher takes the loss first. You close the position: the closed history shows the voucher margin, how much loss it covered, and the rest as "Expired unused". If the position made a profit, the profit is yours.
FAQ
Why can't I change my leverage? You have a voucher position open on that pair. Close it first.
Why can't I remove margin? The voucher part cannot be removed. You can remove your own margin only.
Why did the voucher not cover my loss in the first minutes? Loss cover only starts after the waiting time shown in "Loss cover starts [time]".
Where did my voucher go after I closed the position? It was spent when you opened the position. The history shows how much covered a loss and how much shows as "Expired unused".
Can I add a voucher to a position I already have? No. Vouchers only fund a new position.
When to contact Support
Include:
- Your BYNAI account ID.
- The trading pair, order time and closing time, with your time zone.
- Screenshots of the position with the voucher tag and of the closed position history lines.
- A screenshot of Loss cover used on My Vouchers and of any error message.
Never share your password, 2FA code, seed phrase or private key. This article is not investment advice.
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