Binance Futures has introduced a new USDT-margined BSWUSDT perpetual futures contract, offering up to 75x leverage.
Contract Specifications and Trading Details
Trading for the new contract commences on September 5, 2024, at 09:00 AM TSI. This contract enables users to trade with leverage, using BSW as the underlying asset while settling in USDT. The tick size for this contract is set at 0.00001, and the funding rate will oscillate between +2.00% and -2.00%, with funding fees being paid every four hours, following Binance’s standard practices. The contract offers a maximum leverage of 75x, which provides traders with considerable flexibility to amplify their positions. However, it’s crucial to note that higher leverage also escalates the risk of potential losses.
Multi-Asset Mode
One distinctive feature of the BSWUSDT perpetual futures contract is its support for Multi-Asset Mode. This allows users to trade using various margin assets. For instance, traders can use Bitcoin (BTC) as collateral while trading this contract, subject to the applicable rates. This mode enhances flexibility and facilitates more diverse risk management strategies.
Key Takeaways
• The BSWUSDT perpetual futures contract opens for trading on September 5, 2024, at 09:00 AM TSI. • The contract offers a maximum leverage of 75x, allowing for significant amplification of positions. • The Multi-Asset Mode provides the flexibility to use various cryptocurrencies as collateral. • Funding rates range from +2.00% to -2.00% and are settled every four hours.
The announcement of Binance Futures listing futures for BSW has led to a significant surge in the altcoin’s price. CoinMarketCap data reveals that BSW’s price surged by over 20%, peaking at $0.09544 and slightly retracting to $0.0939 at the time of reporting. Alongside the price increase, BSW’s trading volume saw a substantial rise of 19.02%, reaching 25 million dollars.
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