There is some mention of a mechanism to get binding correction from an old
article in the wiki about emulating the Koma TypeArea from LaTeX, you can
see it in https://wiki.contextgarden.net/KOMA-scrartcl_Type_Area

There is also some discussion about the subject in SE:
https://tex.stackexchange.com/questions/38682/rules-of-thumb-for-size-of-binding-correction-bcor
However, that discussion is 12 years old and the links referenced as
sources are dead now.

I have found with experience that a formula to calculate the binding
correction for a saddle stitch binding, not more than 4 pages in a
signature (only one fold in the middle) usually is 1/2 the circumference of
a circle with radius *r*, being *r* the thickness of the paper times the
amount of physical signatures. Something like: \frac{π \times t \times
s}{2}. I have not tried a formula for more folds in a signature.

The thing is, you have to recalculate for each signature fold. The
innermost will have displacement zero, the second one a little bit more,
the third a little bit more, and on and on until we reach the outermost
signature.

However, it is necessary to say that unless you are using a
particularly thick paper, or you are using too many pages for a saddle
stitch bind (my personal and professional opinion would be no more than 80,
but better 60), the displacement is usually negligible.

For example, let's say the paper thickness is 0.1 mm (which is 0.0001
meters) and there are 40 pages in 10 signatures. The radius would be 0.0001
meters per signature * 10 signatures = 0.001 meters. Then, half the
circumference would be 1/2 * 3.14159 * 0.001 meters ≈  0.0016 meters or
1.6mm at the last signature. Unless there was a displacement of more than,
say, 4 mm, I wouldn't worry too much about it.

-- 
Andrés Conrado Montoya
Andi Kú
andresconrado@gmail.com
http://sesentaycuatro.com
http://messier87.com
http://chiquitico.org
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Los fines no justifican los medios, porque la medida verdadera de nuestro
carácter está dada por los medios que estamos dispuestos a utilizar, no por
los fines que proclamamos.
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