Binance Futures Introduces Arbitrage Bot with 20% Funding Profit Bonus
James Ding Jun 27, 2024 09:03
Binance Futures launches a new Funding Rate Arbitrage Bot, offering a 20% bonus on funding profits for eligible traders during the promotion period.
Binance Futures has launched a new promotion to celebrate the introduction of its Funding Rate Arbitrage Bot. According to Binance, the promotion is available to both new and experienced futures traders, offering an additional 20% on funding profits during the promotion period.
Promotion Details
The promotion period runs from June 27, 2024, 11:30 UTC to July 11, 2024, 11:30 UTC. Eligible users who register for the promotion and create a Funding Rate Arbitrage Bot that operates for at least 72 hours during this period will receive an additional 20% on their funding profits, capped at 50 USDT per user.
The total rewards pool is 50,000 USDT, distributed on a first-come, first-served basis. A snapshot of funding profits will be taken three days after the promotion ends, on July 14, 2024, to determine the reward amount for each eligible user.
How to Participate
To participate, users must follow these steps:
- Log in to their Binance Futures account. New users can sign up here.
- Register for the promotion by clicking the “Register for the Promotion Now” button on the activity page.
- Create at least one Funding Rate Arbitrage Bot and let it run for a minimum of 72 hours.
How the Funding Rate Arbitrage Bot Works
The Funding Rate Arbitrage Bot allows traders to earn funding fees by opening a position on perpetual futures and hedging it by taking an opposite position on the same symbol in the spot market. Funding fees are periodic payments exchanged between long and short positions in perpetual futures contracts.
More details on how the bot works can be found here.
Terms and Conditions
Participants must adhere to several terms and conditions, including:
- Completing account verification (KYC) to be eligible for rewards.
- Only users with positive funding profits will be eligible for any reward.
- Rewards will be distributed in USDT token vouchers within 14 working days after the promotion ends.
- Broker accounts or sub-accounts will not be considered as individual participants.
- Binance reserves the right to disqualify trades deemed to be wash trades or illegal bulk account registrations, as well as trades that display self-dealing or market manipulation attributes.
Additional terms and conditions apply and can be accessed here.
Binance said it reserves the right to amend or cancel the promotion at any time and for any reason without prior notice.
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