What do you know about the quarterly BTCUSDT futures?
The quarterly BTCUSDT futures is a **quarterly futures contract for trading the Bitcoin against Tether (USDT) on the Binance platform**, which is a futures contract that expires at the end of each financial quarter (approximately every three months) and is settled in cash with Bitcoin (BTC)[1].
### Key Features of the Quarterly BTCUSDT Futures:
- **Defined Expiration Date:** The contract expires on the last Friday of each quarter, for example, the "BTCUSD 0925" contract expires at the end of September.
- **Settlement in Bitcoin:** Contracts are settled in cash with BTC rather than USDT, allowing traders to gain from an increase in the amount of Bitcoin in their wallet, which is beneficial for those looking to increase their BTC holdings.
- **Leverage:** The contract supports high leverage trading, but the allowable trade size depends on the amount of leverage used.
- **No Funding Fees:** Unlike perpetual futures which incur periodic funding fees every 8 hours, quarterly contracts do not impose these fees, making them suitable for long-term traders.
- **Price Index:** An index based on the average price across several exchanges like Bitstamp, Coinbase Pro, and Kraken is used to determine the settlement price, isolating traders from the volatility of the BTC/USDT pair and focusing on the underlying BTC/USD price.
