This is a general announcement, and the products and services mentioned here may not be applicable to your region.
Dear Users:
To provide more trading options for Binance Contracts and enhance user trading experience, Binance Contract Platform will launch INITUSDT perpetual contract pre-trading on April 16, 2025, at 14:30 (UTC+8), with maximum leverage up to 5 times.
More information about the above perpetual contracts is shown in the table below:
About the Mark Price:
Mark price during pre-trading period
The formula for the mark price during the pre-trading period of perpetual futures contracts is as follows:
Mark Price = Average of trading prices in the past 10 seconds, calculated every second
If there are less than 21 trades in the past 10 seconds, the average of the most recent 100 trading prices of that pre-trading contract will be taken.
Transition period for pre-trading to standard contracts
When Binance can obtain a stable index price in the spot market, the pre-trading perpetual contracts will convert to standard perpetual contracts. During the transition period, the mark price of pre-trading will gradually converge to the mark price of standard perpetual contracts, as follows:
Mark Price = Median (Price 1, Price 2, Contract Price) During the transition period, trading functionality is not affected, and unfilled orders and positions will not be canceled.
Mark price after the end of pre-trading
Mark price after the end of pre-trading, the formula is as follows:
Mark Price = Median (Price 1, Price 2, Contract Price)
Leverage and Margin Tiers:
Please note:
When the trading pair is listed on the spot market, pre-trading will end and be converted to standard perpetual contracts without further notice.
When the above perpetual contracts are listed, their funding rate limits are +2.00% / -2.00%;
Funding fees are settled every four hours;
Based on market risk conditions, Binance may adjust the parameters of the above contracts, including adjusting the funding rate, minimum price fluctuation, maximum leverage, initial margin, maintenance margin, and other important parameters;
Multi-asset mode supports the above perpetual contracts. Multi-asset mode supports other assets besides USDT as margin for the above perpetual contracts (including valuation discounts). For example: users can use BTC as margin to trade the above perpetual contracts;
The above perpetual contracts are subject to (Binance Terms of Use) and (Binance Contract Service Agreement);
Contracts and spot listings are not related. Contracts listed on Binance Contracts do not guarantee they will be listed on Binance Spot;
There may be discrepancies between the original English announcement and the translated version. For any discrepancies, please refer to the original English version for the latest or most accurate information.
Note:
U-Margined Contract Trading Rules
Leverage and Margin for U-Margined Contracts
How to switch contract trading pairs
Binance Contract Platform Trading Fee Rate Table
Mark Price vs. Index Price
Funding Rate History
Multi-Asset Mode
Thank you for your support of Binance!
Binance Team
April 16, 2025
Note: This announcement was updated on April 16, 2025, to modify the project description.
