Describe the problem:
How does it make sense that I can tag transactions as “Loan Intrest”, but there is no way to tag them as “Borrowed from Exchange” or “Paid back loan”? I was considering paying for Koinly, but why would anyone do that if you don’t support margin trading on one of the biggest exchanges.
Which exchange/wallet is this regarding?
Binance Margin wallet and trades
How did you import data into this wallet?
API doesn’t import, you have to manually edit columns from Binance’s export to get it to load, but the amounts don’t add up correctly since you can’t record amounts as borrowed and repaid
What have you tried to fix this so far?
API import leads to incorrect wallet amounts as it doesn’t include margin wallet balance and ignores coin transfers between spot and margin wallets
CSV import doesn’t work with the file Binance provide, you have to manually edit it to get the trades to show up
Even then, balance transfers between spot and margin wallet don’t exist and it treats money borrowed or repaid as a “missing cost basis” - thus messing up the P&L
I have a lot of binance margin trades (short positions and bought back), they even get imported into my account throught API, but the pnl calculation is a huge mess. Unfortunately I haven’t found a tool, that can deal with this yet. The situation is even worse with FTX, where short sells are not even recognized and instead I get errors, that I didnt buy the coin in advance.
I dont understand what the issue is, doesn’t seem like a big deal to me to do it correctly.
Is any resolution found on the Binance Margin issue?
Can anyone suggest a proper solution, how to track this in Koinly or another tool which works?
thanks
i have tries the API import last week and it still has errors.
even tjoug the transaction for a long margin position and it’s correspondig sell were captures and displayed but the loans and repayment are not interpretet as such by Koinly.
For example: in the pair btc/usdt i entered in a long position in a 4x margin. koinly reports that I don’t have enought usdt for that, and the cost basis for the unaccounted usdt is 0, therefore the gain on that transaction is huge and it is completely wrong.
is that expected ? is that something thst will be fixed ? should I change how i am importing?
Still the same problem few months later. You can’t even import CVS fille with borrow/repayment transaction. Not speaking about margin intrest fee…KOINLY please fix this !!!
I solved this after many days messing around with the software. This pertains to manually imported CSV’s.
For Margin Loan tag as “Realized P&L” or Fork/Airdrop at 0 cost base(disabled income setting).
Either is fine, just technical differences in the PNL calculations, tho the former is probably better as you may actually have airdrops/forks that need to be treated as income.
For Loan Repayment tag as “Realized P&L”.
I don’t think Koinly realizes that classifying Loan history using standard Deposit/Withdrawals for manually imported CSV’s is incorrect.