Binance Futures Introduces NEIROUSDT and 1MBABYDOGEUSDT Perpetual Contracts with 75x Leverage
Binance Futures has announced the launch of two new USDⓈ-margined perpetual contracts: NEIROUSDT and 1MBABYDOGEUSDT, which will be available to traders starting September 16, 2024. These contracts will offer leverage of up to 75x, according to Binance.
Contract Details
The NEIROUSDT perpetual contract is scheduled to go live at 11:30 UTC, followed by the 1MBABYDOGEUSDT perpetual contract at 11:35 UTC. Traders can utilize up to 75x leverage on these contracts, significantly amplifying their potential gains or losses.
Binance clarified that the NEIROUSDT contract pertains to the “First Neiro On Ethereum” (NEIRO) token, which has a distinct contract address: 0x812ba41e071c7b7fa4ebcfb62df5f45f6fa853ee. This is different from the previously listed NEIROETH Futures contract, which has its own contract address: 0xee2a03aa6dacf51c18679c516ad5283d8e7c2637.
Trading and Risk Management
The maximum funding rate for these contracts at launch is set at +2.00% / -2.00%, with funding fee settlements occurring every four hours. Binance noted that it might adjust various parameters of these contracts, including the funding fee, tick size, maximum leverage, initial margin, and maintenance margin requirements, based on market conditions.
Additionally, traders can take advantage of Binance's Multi-Assets Mode, which allows the use of multiple margin assets. For instance, users can use Bitcoin (BTC) as margin when trading these new perpetual contracts, subject to applicable haircuts.
Regulatory and User Considerations
Binance emphasized that the new perpetual contracts are subject to its Terms of Use and Futures Service Agreement. The company also noted potential discrepancies in translated versions of the announcement, advising users to refer to the original English version for the most accurate information.
With the introduction of NEIROUSDT and 1MBABYDOGEUSDT perpetual contracts, Binance Futures continues to expand its offerings, providing traders with more options to diversify their strategies and potentially enhance their trading experience.