Binance Futures is set to launch the USDⓈ-M USTC Perpetual Contract at 12:30 (UTC) on November 27, 2023, providing a maximum leverage of up to 50x, according to their recent announcement.
The new perpetual contract features USTC as the underlying asset, with USDT as the settlement asset. Capped funding rates are set at +2.00% / -2.00%, with each funding fee settlement occurring every four hours. The contract supports around-the-clock trading and is compatible with the Multi-Assets Mode.
Highlighting specific details, the maximum funding rate for the USTC/USDT Perpetual Contract at its launch is coded at +2.00% / -2.00%, with four predefined time slots applying the same max funding rates on the launch day and subsequent days.
In a potential boon for liquidity providers, Binance announced that eligible USDⓈ-margined futures liquidity providers could avail of a 0.005% maker fee rebate in trades involving the USTC/USDT Perpetual Contract for a period of roughly 14 to 15 days.
However, Binance has noted that specifications of the USTC/USDT Perpetual Contract could undergo occasional adjustments based on market risk conditions. These adjustments may involve factors such as the funding fee, tick size, maximum leverage, initial margin, and/or maintenance margin requirements.
The launch of the USDⓈ-M USTC Perpetual Contract underscores Binance Futures' continued evolution, providing diverse trading options for its extensive user base. This perpetual contract offering is another key strategic addition to Binance's comprehensive portfolio of digital asset products.
