USDT-Margined Quarterly Contract Specification and Trading Rules

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USDT-Margined Quarterly Contracts are quoted, settled, and collateralized in USDT. USDT-Margined contracts are not inverse products. Instead, they are linear contracts that offer clear pricing rules. A quarterly contract has a set expiration date and settlement, it will expire on the last Friday of the quarter. For example, “BTCUSDT Quarterly 0326” indicates that the expiration date is set for 2021-03-26 8:00 AM (UTC).

Contract Specifications

One of the key benefits of USDT-Settled Contracts is that you can easily calculate your returns in fiat. This makes USDT-Margined Contracts more intuitive. For example, when you make 500 USDT in profit, you can easily estimate that the profit is worth approximately $500 - since the value of 1 USDT is pegged closely to 1 USD.

USDT-margined quarterly contracts offer the following characteristics:

• Settlement in USDT: Contracts are denominated and settled in USDT.
• Expiration: Quarterly
• Clear pricing rules: Each USDT-Margined Futures Contract specifies the base asset's quantity delivered for a single contract, also known as "Contract Unit". For instance, BTC/USDT, ETH/USDT, and BCH/USDT Futures Contracts represent only one unit of its respective base asset, similar to Spot markets.

For complete USDT-M Futures Contract specifications, please refer to Trading Rules.

Notes:

• After the current Quarterly contract is delivered and settled, a new Quarterly contract will be generated. For example, “BTCUSDT Quarterly 0326” will be delisted at 2021-03-26 8:00 AM (UTC) after settlement, and a new “BTCUSDT Quarterly 0625” will be generated, and so on.

How to trade USDT-margined quarterly contracts?

1. Go to Binance Futures and click [Futures] - [USDT Delivery].

2. Click on the current contract’s name (set to [BTCUSDT Quarterly] by default) and a dropdown menu will appear. Please check that you are on the [USDⓈ-M] - [Delivery] tab.

3. Select either [BTCUSDT Quarterly] or [ETHUSDT Quarterly] to view their price charts and place orders.

Note:

User may find newly USDT-Margined next quarterly contract has discontinued k-line data before launch date. This is because Binance does not keep the USDT-Margined next quarterly contract more than 1 week. Binance usually launches the USDT-Margined next quarterly contract 1 week before the settlement date, and the next quarterly contract data will be completely migrated to the quarterly contract on the settlement date. Trading of the next quarterly contract was subsequently halted. Therefore, there is no transaction data displayed on the next quarterly contract k-line from the settlement date to the launch date of the next new USDT-Margined quarterly contract.