How to Use the Auto-repay

In order to improve trading experience, KuCoin Margin trading has optimized the auto-repay function which removes the logic of “The balance in your Margin Account will be checked every 30 minutes. Your debts will be automatically repaid if your balance is sufficient.”

The auto-repay function is optimized so that once the user sells assets via auto-repay function, the assets received will be used to repay the liabilities only if there are any corresponding liabilities.

 

Operating Steps:

Step 1: Taking cross margin as an example.

The current account fund is 5 USDT (~4.99USD), and the user is ready to borrow USDT to go long BTC.

 

Step 2: Under the BTC-USDT cross margin pairs, user decide to borrow 19 USDT and go long BTC at the current market price.

 

Step 3: At this time, the user has completed a long BTC, and the current liability can be seen under the auto-repay tab of Sell BTC.

If you are shorting BTC, the corresponding liability will be displayed under the auto-repay tab of Buy BTC.

 

Step 4: Now, the user wants to settle profits or losses by selling BTC and repaying USDT their liabilities.

Choose the auto-repay tab on Sell BTC and sell with market price / limit or other order types. Similar to buying back BTC to close a short position.

 

Step 5: After successfully selling BTC assets, the USDT received by the user will be used to repay liabilities and interest first.

At this time, the USDT liability is displayed as 0, and the remaining assets are owned by the user.

 

We hope this article has been helpful. If you have any other questions, please reach out to our 24/7 customer support via online chat or submit a ticket.

 

Happy trading on KuCoin!