Binance Futures, service expansion
Binance Futures, the derivatives arm of cryptocurrency exchange Binance, announced the launch of a new USDT-margined TURBO perpetual contract. According to Binance, the new contract will provide traders with up to 50x leverage.
Release Details
The TURBOUSDT perpetual contract, scheduled to launch at 15:30 (UTC) on May 30, 2024, aims to improve the trading experience by expanding the range of trading options on Binance Futures. The contract features a maximum funding rate of +2.00% / -2.00% and funding fee settlement every 4 hours.
Key specifications
Binance has outlined some key specifications for the TURBOUSDT perpetual contract.
- The maximum leverage is set at 50x, allowing traders to significantly enlarge their positions.
- Funding fee settlement occurs every 4 hours and is dynamically adjusted according to market conditions.
Binance also reserves the right to adjust these specifications, including funding fees, tick size, maximum leverage, initial margin, and maintenance margin requirements, depending on market risk conditions.
Multi-asset mode
The new contract is also available in Binance’s multi-asset mode, which allows users to trade futures contracts across multiple margin assets. For example, traders can use: Bitcoin (BTC) is used as margin when trading TURBOUSDT perpetual contracts, subject to applicable haircuts.
Terms of Use
Traders are advised to review the Binance Terms of Use and Binance Futures Service Agreement. This document sets out the specific terms applicable to the new futures contract and ensures traders are aware of the risks involved.
Binance also warns that digital asset prices can fluctuate and that futures trading involves significant market risk and price volatility. Traders may be required to deposit additional margin or make interest payments in the short term, and there is a risk of collateral being liquidated without consent in adverse market conditions.
conclusion
The launch of the USDT Margined TURBO Perpetual Contract represents Binance Futures’ ongoing efforts to diversify its product offering and provide traders with more options to hedge and leverage their positions. With the launch of these new products, traders are encouraged to familiarize themselves with their specifications and associated risks.
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