According to the announcement from Binance, the platform is set to introduce the XPLUSDT perpetual contract on Binance Futures, with pre-market trading scheduled to commence on 2025-08-22 at 09:30 (UTC). This new offering will allow traders to engage with up to 5x leverage, enhancing the range of trading options available. The underlying asset for this contract is Plasma (XPL), a Layer 1 EVM-compatible blockchain designed for high-volume, low-cost global stablecoin payments. The total supply of XPL is 10 billion, with no maximum supply cap. The settlement asset for this contract will be USDT.
The mark price during the pre-market trading period will be calculated as the average of the last 10 seconds of trade prices, updated every second. If fewer than 21 transaction prices are available within this interval, the average will be based on the last 20 transaction prices. The capped funding rate during pre-market trading is set at +0.005%, transitioning to a range of +2.00% to -2.00% once pre-market trading concludes. Funding fees will be settled every four hours. The trading function will remain unaffected during the transition from pre-market to standard perpetual futures contracts, and open orders and positions will not be canceled. Binance reserves the right to adjust contract specifications, including funding fees, tick size, and leverage, based on market conditions. The Multi-Assets Mode will be supported, allowing users to trade across multiple margin assets. The XPLUSDT perpetual contract is subject to Binance's Terms of Use and Futures Service Agreement. It is important to note that futures and spot token listings are not correlated, and a futures listing does not guarantee a spot market listing.
