Binary code clone analysis is an important technique which has a wide range of applications in software engineering (e.g., plagiarism detection, bug detection). The main challenge of the topic lies in the semantics-equivalent code transformation (e.g., optimization, obfuscation) which would alter representations of binary code tremendously. Another chal- lenge is the trade-off between detection accuracy and coverage. Unfortunately, existing techniques still rely on semantics-less code features which are susceptible to the code transformation. Besides, they adopt merely either a static or a dynamic approach to detect binary code clones, which cannot achieve high accuracy and coverage simultaneously. In this paper, we propose a semantics-based hybrid approach to detect binary clone functions. We execute a template binary function with its test cases, and emulate the execution of every target function for clone comparison with the runtime information migrated from that template function. The semantic signatures are extracted during the execution of the template function and emulation of the target function. Lastly, a similarity score is calculated from their signatures to measure their likeness. We implement the approach in a prototype system designated as BinMatch which analyzes IA-32 binary code on the Linux platform. We evaluate BinMatch with eight real-world projects compiled with different compilation configurations and commonly-used obfuscation methods, totally performing over 100 million pairs of function comparison. The experimental results show that BinMatch is robust to the semantics-equivalent code transformation. Besides, it not only covers all target functions for clone analysis, but also improves the detection accuracy comparing to the state-of-the-art solutions.