LBank futures are mainly USDT-margined perpetuals. On BTCUSDT the contract multiplier is 1, so size is quoted directly in BTC. The minimum order is 0.0001 BTC, leverage goes up to 200x with a default of 20x, and funding settles every 8 hours. Regular users pay 0.02% maker and 0.06% taker. Liquidation is based on the mark price and triggers when the maintenance margin ratio reaches 100%; the system then cancels open orders, locks transfers and closes the position in steps (checked against LBank's official API and help centre on 19 October 2026). This guide covers opening a futures account, margin and position modes, the liquidation formula, the insurance fund and ADL, funding and order types, then works through a 0.01 BTC position. The trading page has the final word.
For a comparison of beginner rules across exchanges, see best exchanges for futures beginners. For LBank as a whole, see the LBank review. This guide is about LBank futures only.
LBank BTCUSDT perpetual specs
| Item | BTCUSDT perpetual |
|---|---|
| Margin / settlement asset | USDT |
| Contract multiplier | 1 (size quoted in BTC) |
| Minimum order / size step | 0.0001 BTC |
| Maximum size per order | 150 BTC |
| Minimum order value | 1 USDT |
| Price tick | 0.1 USDT |
| Max leverage / default | 200x / 20x |
| Funding interval | 8 hours |
| VIP 0 fees | 0.02% maker, 0.06% taker |
Source: LBank futures public API (contract specs, market data and funding), checked 2026-10-19. Fees are from LBank Futures Trading Fee Instruction; VIP rates are in LBank fees.
On the same day the API listed 842 USDT perpetuals. Maximum leverage breaks down as 507 contracts at 50x, 218 at 20x and 74 at 75x; BTCUSDT, ETHUSDT and SILVERUSDT allow 200x, and GOLDUSDT and XAUTUSDT 500x. Different help-centre articles give different maximums (125x in some, 200x in others), so go by what the order panel shows.
Opening futures: agreement, KYC and regions
- Log in and click "Futures". The first time, you're prompted to open a futures account.
- Tick that you agree to the LBank Futures Service Agreement and confirm. Opening is free.
- Transfer USDT from your spot account to your futures account (the "Transfer" button on the assets page, or "+" on the futures page).
Sources: How to Open a Futures Account and LBank Futures Trading User Guide (Web). LBank says users "in certain regions" need KYC to unlock full features but doesn't say which regions. The user agreement asks every user to verify before trading, so it's safest to finish KYC right after signing up (see LBank KYC verification).
The futures sign-up prompt says LBank doesn't support futures for users from Iran, North Korea, Syria, Cuba, Crimea, the United States, China and their territories. We found no guide in the help centre for a futures demo or testnet.
Margin mode, position mode and leverage
| Setting | Options | Rules |
|---|---|---|
| Margin mode | Cross, isolated | Every pair defaults to cross margin; you can't switch while you have a position or open order |
| Position mode | One-way, hedge | Switch under "Settings → Position Mode" at the top right of the futures page |
| Leverage | 1x up to the pair's maximum | Set long and short separately, or turn on "Long/Short Sync"; changing it while in a position moves the liquidation price |
Sources: Cross-Margin Mode vs. Isolated-Margin Mode, LBank Futures Position Mode Explanation, How to Adjust Leverage in Futures Trading.
In cross margin, the whole available balance of the futures account backs every position, so a loss on one can drag down the others. In isolated margin, each position only uses the margin assigned to it, and liquidation costs you that amount at most. If you want your worst case on a trade to equal the margin you put in, switch the default cross setting to isolated before opening. LBank suggests beginners start at 2x to 5x.
Maintenance margin and tiers
LBank uses tiered maintenance margin: the larger the position, the higher the maintenance margin rate. The help-centre article Understanding Forced Liquidation and Maintenance Margin Ratio (updated 2026-07-10) gives this tier example:
| Position value | Maintenance margin rate | Quick-calculation deduction |
|---|---|---|
| ≤ 50,000 USDT | 1% | 0 USDT |
| 50,001 to 100,000 USDT | 2% | 200 USDT |
| 100,001 to 500,000 USDT | 3% | 800 USDT |
LBank labels this table an example; BTCUSDT's actual tiers are on the trading rules page. Tiers are shown per pair on the futures trading rules page, and we couldn't get the full tier table from the public API, so check the numbers for your pair there before trading.
Maintenance margin = mark price × position size × maintenance margin rate − quick-calculation deduction. The maintenance margin ratio (the account risk gauge) = maintenance margin ÷ margin balance × 100%. Below 50% is low risk (green), 50% to 80% medium (orange), 80% to 100% high (red), and 100% triggers liquidation.
Liquidation: mark price, closed in steps
When it triggers
LBank measures risk with the mark price, not the last traded price. The July 2026 article says the maintenance margin ratio is the only thing that decides liquidation; the estimated liquidation price is a reference.
Isolated estimated liquidation price
The isolated formula in LBank's Forced Liquidation Mechanism (long = 1, short = −1, multiplier usually 1):
Liquidation price = (direction × multiplier × quantity × entry price − margin balance) ÷ [quantity × (direction − liquidation fee rate − maintenance margin rate)]
LBank's example: long 2 BTC on BTCUSDT at 100,000 USDT, 100x, 3,000 USDT margin, 0.2% maintenance margin rate and a 0.06% liquidation fee rate gives a liquidation price of about 98,756.7 USDT. That 2024 article defines "maintenance margin ratio" differently from the 2026 one; the 2026 trigger rule is the one to follow.
What happens during liquidation
LBank: when the maintenance margin ratio reaches or exceeds 100%, the system cancels all unfilled orders for the position, assets in the futures account can't be transferred to other accounts, and traders can't close manually. It liquidates part of the position step by step until the margin balance exceeds the maintenance margin, and closes the whole position if partial liquidation fails. (LBank on forced liquidation and maintenance margin ratio)
Once liquidation starts you can't close manually or transfer in more funds, so any top-up has to happen while the gauge is red but still below 100%.
Insurance fund and ADL
According to LBank Risk Insurance Fund, the fund is mainly financed by extra fees paid during liquidations by users who didn't go bankrupt, and it takes over bankrupt positions (balance below zero). BTC/USDT and ETH/USDT perpetuals each have their own fund; all other perpetuals share one. When the fund can't cover a position, auto-deleveraging (ADL) kicks in. LBank says users can see the fund's balance and history, but the route it gives is emailing support; we found no public balance page.
ADL ranking follows LBank Counterparty Liquidation Mechanism: score = margin ratio × profit percentage, so higher profit and higher leverage put you nearer the front. Positions hit by ADL close at the bankruptcy price and open orders are cancelled; you can reopen afterwards. The ADL indicator on your account page shows where you stand.
Funding: longs and shorts pay each other
- Who pays: when the rate is positive, longs pay shorts; when negative, shorts pay longs. LBank says it charges nothing on these transfers.
- Amount: funding = position notional × funding rate, where notional = mark price × size.
- Rate: funding rate = premium index + clamp(0.01% − premium index, ±0.05%). The default interest rate is 0.03% a day, 0.01% per interval, so when the premium index sits between −0.04% and 0.06% the funding rate is 0.01%. The premium index is calculated every second and time-weighted up to the funding time.
- Interval: varies by coin. BTCUSDT is 8 hours (28,800 seconds in the API); some coins use 1 or 4 hours. LBank says it aims to announce changes two weeks ahead, though notice can be shorter in extreme markets.
- Cap and floor: LBank's articles don't state the BTCUSDT funding rate limits.
Sources: Funding Rate: Definition, Components, and Uses and settlement frequency update. When we checked on 2026-10-19, BTCUSDT funding was 0.01% with the next settlement at 16:00 UTC.
Order types and stops
| Order | What it does | Watch out for |
|---|---|---|
| Market | Fills right away at the best available price | Thin books or fast markets can push the fill far from the last price; if margin may not cover it, only part fills and the rest is cancelled |
| Limit | Fills at your price or better | Time-in-force options available; too far from the market and it may not fill |
| Trigger | Sends an order once the trigger price is hit | Time-in-force options available |
| Post-only | Rests on the book as maker only | Use it when you want the 0.02% maker fee |
| Take profit / stop loss | Set under "Advanced" when placing an order | Can also be added to an open position |
Sources: Understanding LBank Futures Order Types and the web futures guide. LBank's articles don't say whether TP/SL can trigger on the mark price; check the options in the order box. There's also "One-Click Reverse", which closes the position and opens the opposite one at the same size.
Worked example: 0.01 BTC, isolated, 10x
Say you go long 0.01 BTC on BTCUSDT at 82,000 USDT with 10x isolated margin. Using the 1% first-tier rate from LBank's tier example and the 0.06% liquidation fee rate from its formula example, and leaving out funding:
| Item | Calculation | Result |
|---|---|---|
| Position value | 82,000 × 0.01 | 820 USDT |
| Margin | 820 ÷ 10 | 82 USDT |
| Estimated liquidation price | (0.01 × 82,000 − 82) ÷ [0.01 × (1 − 0.06% − 1%)] | About 74,591 USDT (a fall of about 9.0%) |
| If the maintenance rate is 0.2% | (820 − 82) ÷ [0.01 × (1 − 0.06% − 0.2%)] | About 73,992 USDT |
| Market open and close fees | 820 × 0.06% × 2 | About 0.98 USDT |
| Limit open and close fees | 820 × 0.02% × 2 | About 0.33 USDT |
| Funding at 0.01% | 820 × 0.01% | About 0.08 USDT every 8 hours, about 0.25 USDT a day |
At 5x the liquidation price would be about 66,303 USDT; at 20x, about 78,735 USDT. A 0.8 percentage point difference in the maintenance rate moves the liquidation price by about 600 USDT, which is why the real figure depends on your pair's tier on the trading rules page. If you're liquidated, the 82 USDT margin is essentially gone.
Wick compensation and outage record
LBank runs a "$100 million futures risk protection fund" campaign. For the top 100 CoinMarketCap pairs, if a platform-related wick moves the price more than 2% from a fair price within one minute and snaps back, it pays 120% of the liquidation or stop-loss loss in USDT to your spot account within 48 hours (official campaign notice). It's a campaign, and LBank can change or end it.
LBank has itself announced four futures-system incidents: a traffic overload in late August 2025, front-end display problems on 2025-12-21, abnormal ETH mark prices on 2025-12-28 and another display problem on 2026-05-31. Each time it said verified losses would be compensated (details in the LBank review). If it happens to you, keep the order IDs and screenshots and file a ticket as the notice describes.
Regional limits
The user agreement (updated 2026-09-23) excludes more than 30 places including the US, Canada, mainland China, Hong Kong and Macau. The KYC FAQ and SMS restrictions notice add India, Venezuela, Palau, Russia, Kazakhstan, Ukraine and the UAE (user agreement, KYC FAQ, SMS restrictions notice). Indonesia's OJK put LBank on its June 2026 blocking list. Licensing by country is covered in crypto exchange licences by country.
Risks
At 10x isolated, a move of about 9% against you can liquidate the position, and once liquidation starts you can't close it yourself; futures can wipe out your margin in minutes, so only use money you can lose entirely. LBank publishes no licence and no full proof of reserves, so the platform is a risk in its own right; don't park long-term savings in the futures account. Ignore anyone selling signals or managed trading that "can't lose".
FAQ
What is LBank's maximum futures leverage?
It depends on the pair. On 2026-10-19 the official API showed 200x for BTCUSDT and ETHUSDT, 500x for GOLDUSDT and XAUTUSDT, and 20x to 75x for most coins. The default is 20x.
What is the minimum futures order on LBank?
0.0001 BTC on BTCUSDT, with a minimum order value of 1 USDT.
Does LBank default to cross or isolated margin?
Cross. You can switch to isolated only when you have no position or open orders on that pair.
How often does LBank charge funding?
It depends on the coin; BTCUSDT settles every 8 hours. Funding passes between longs and shorts, and LBank says it takes nothing.
Is there a liquidation fee on LBank?
LBank says liquidation may incur extra fees, and its formula includes a "liquidation fee rate", shown as 0.06% in the example. Check the official fee page for the actual rate.
Do I need KYC for LBank futures?
The futures guide says KYC is needed "in certain regions", and the user agreement requires verification before trading. Doing KYC first avoids getting stuck.
