  We study the spin dependence of D-brane dynamics in the Green-Schwarz
formalism of boundary states. In particular we show how to interpret insertion
of supercharges on the boundary state as sources of non-universal spin effects
in D-brane potentials. In this way we find for a generic (D)p-brane, potentials
going like $v^{4-n}/r^{7-p+n}$ corresponding to interactions between the
different components of the D-brane supermultiplet. From the eleven dimensional
point of view, these potentials arise from the exchange of field strengths
corresponding to the graviton and the three form, coupled non-minimally to the
branes. We show how an annulus computation truncated to its massless
contribution is enough to reproduce these next-to-leading effects, meaning in
particular that the one-loop (M)atrix theory effective action should encode all
the spin dependence of low-energy supergravity interactions.
