Binance Futures Introduces USDT-Margined TURBO Perpetual Contract with Up to 50x Leverage
Binance Futures launches USDT-margined TURBO Perpetual Contract, offering up to 50x leverage.
Binance Futures Expands Offerings
Binance Futures, the derivatives arm of cryptocurrency exchange Binance, has announced the launch of a new USDT-margined TURBO Perpetual Contract. The new contract will offer traders up to 50x leverage, according to Binance.
Launch Details
Set to go live on May 30, 2024, at 15:30 (UTC), the TURBOUSDT Perpetual Contract aims to enhance the trading experience by expanding the range of trading options on Binance Futures. The contract will feature a maximum funding rate of +2.00% / -2.00% and funding fee settlements every four hours.
Key Specifications
Binance has outlined several key specifications for the TURBOUSDT Perpetual Contract:
- The maximum leverage is set at 50x, allowing traders to significantly amplify their positions.
- The funding fee settlement will occur every four hours, ensuring a dynamic adjustment based on market conditions.
Additionally, Binance reserves the right to adjust these specifications, including the funding fee, tick size, maximum leverage, initial margin, and maintenance margin requirements, based on market risk conditions.
Multi-Assets Mode
The new contract will also be available under Binance’s Multi-Assets Mode, which allows users to trade futures contracts across multiple margin assets. For instance, traders can use Bitcoin (BTC) as margin when trading the TURBOUSDT Perpetual Contract, subject to applicable haircuts.
Terms and Conditions
Traders are advised to review the Binance Terms of Use and the Binance Futures Service Agreement. These documents outline the specific terms governing the new futures contract and ensure traders are aware of the associated risks.
Binance also warns that digital asset prices can be volatile, and futures trading involves significant market risk and price volatility. Traders may need to make additional margin deposits or interest payments on short notice, and there is a risk of liquidation of collateral 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 offerings and provide traders with more options to hedge and leverage their positions. As this new product goes live, traders are encouraged to familiarize themselves with its specifications and associated risks.
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