Text-to-optimization requires two separable capabilities: modeling -- choosing the right optimization structure -- and binding -- grounding every coefficient, index, and parameter in the concrete problem data. We study this via Text2Opt-Bench, a scalable benchmark of solver-verified optimization problems spanning 12 categories, from textbook linear programs to stochastic and multi-objective formulations with up to thousands of variables. Across 10+ models, we find that accuracy collapses as instance data grows, even when the formulation itself is simple. We call this the effective binding limit. We study it with a family of techniques, BIND, that externalize numeric data to structured files so the model binds data programmatically rather than transcribing from the prompt. When using an oracle for externalizing data, we recover between 12 and 27 accuracy points, confirming binding as a key -- but recoverable -- failure mode. In a deployable setting without oracle access, we validate our hypothesis by finetuning a model exclusively on binding and show that it outperforms end-to-end SFT and RL across three structurally distinct optimization categories, with a 1.5B binding specialist alone matching a 7B end-to-end baseline.

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