Binance Futures launches 1000CATUSDT perpetual contract with up to 75x leverage

AI Summary

October 21, 2024: Binance Futures is set to introduce a new perpetual contract, 1000CATUSDT, which gives users the ability to trade with up to 75x leverage. The contract will be available for trading on October 21, 2024, at 12:30 UTC.

What is the 1000CATUSDT Perpetual Contract?

The 1000CATUSDT perpetual contract allows users to trade Simon's Cat Tokens (1000CAT) with USDT as the settlement asset. With the opportunity for up to 75x leverage, this new contract is designed to offer more trading options for Binance Futures users, providing a higher risk/reward potential for traders.

Key details of the 1000CATUSDT perpetual contract

Contract

1000CATUSDT Forever

Release date

21 October 2024, 12:30 UTC

Underlying asset

Simon's Cat (1000CAT)

Liquidation asset

USDT

Maximum leverage

75x

Limited funding rate

+2,00% / -2,00%

Tick ​​size

0,00001

Settlement of financing fee

Every four hours

Trading hours

24/7

Multi-asset mode

Supported

How the 1000CATUSDT contract works

The 1000CATUSDT contract is a USDⓈ-margined perpetual contract, meaning that the margin is settled in USDT. This contract offers flexibility to traders as it allows them to use multi-asset mode and use other cryptocurrencies such as BTC as collateral for the margin.

Financing rate and commercial information

At launch, the funding rate for this contract will be capped at +2.00% / -2.00%. Traders should note that funding fee settlements will occur every four hours.

Financing Rate Table:

Hora (UTC)

Maximum financing rate

21/10/2024 16:00

+2,00% / -2,00%

21/10/2024 20:00

+2,00% / -2,00%

22/10/2024 00:00

+2,00% / -2,00%

22/10/2024 04:00

+2,00% / -2,00%

What is Multi-Asset Mode?

The multi-asset mode allows users to trade the 1000CATUSDT perpetual contract using different margin assets. For example, users can choose to use Bitcoin (BTC) as margin when trading the contract, providing flexibility and convenience for managing multiple assets in trading.

Trade with up to 75x leverage on Binance Futures

With the launch of the 1000CATUSDT perpetual contract, Binance Futures continues to expand its offering and provide traders with exciting opportunities. Trading begins on October 21, 2024, at 12:30 UTC, with up to 75x leverage available. Traders are advised to assess their risk tolerance and trade responsibly.12:30