Binance Futures Introduces USDT-Margined TURBO Perpetual Contract with Up to 50x Leverage

Binance
Futures
Expands
Offerings

Binance
Futures,
the
derivatives
arm
of
cryptocurrency
exchange
Binance,
has
announced
the
launch
of
a
new
USDT-margined
TURBO
Perpetual
Contract.
The
new
contract
will
offer
traders
up
to
50x
leverage,
according
to

Binance.

Launch
Details

Set
to
go
live
on
May
30,
2024,
at
15:30
(UTC),
the
TURBOUSDT
Perpetual
Contract
aims
to
enhance
the
trading
experience
by
expanding
the
range
of
trading
options
on
Binance
Futures.
The
contract
will
feature
a
maximum
funding
rate
of
+2.00%
/
-2.00%
and
funding
fee
settlements
every
four
hours.

Key
Specifications

Binance
has
outlined
several
key
specifications
for
the
TURBOUSDT
Perpetual
Contract:

• The
  maximum
  leverage
  is
  set
  at
  50x,
  allowing
  traders
  to
  significantly
  amplify
  their
  positions.
• The
  funding
  fee
  settlement
  will
  occur
  every
  four
  hours,
  ensuring
  a
  dynamic
  adjustment
  based
  on
  market
  conditions.

Additionally,
Binance
reserves
the
right
to
adjust
these
specifications,
including
the
funding
fee,
tick
size,
maximum
leverage,
initial
margin,
and
maintenance
margin
requirements,
based
on
market
risk
conditions.

Multi-Assets
Mode

The
new
contract
will
also
be
available
under
Binance’s
Multi-Assets
Mode,
which
allows
users
to
trade
futures
contracts
across
multiple
margin
assets.
For
instance,
traders
can
use





Bitcoin
(BTC)
as
margin
when
trading
the
TURBOUSDT
Perpetual
Contract,
subject
to
applicable
haircuts.

Terms
and
Conditions

Traders
are
advised
to
review
the

Binance
Terms
of
Use
and
the

Binance
Futures
Service
Agreement.
These
documents
outline
the
specific
terms
governing
the
new
futures
contract
and
ensure
traders
are
aware
of
the
associated
risks.

Binance
also
warns
that
digital
asset
prices
can
be
volatile,
and
futures
trading
involves
significant
market
risk
and
price
volatility.
Traders
may
need
to
make
additional
margin
deposits
or
interest
payments
on
short
notice,
and
there
is
a
risk
of
liquidation
of
collateral
without
consent
in
adverse
market
conditions.

Conclusion

The
launch
of
the
USDT-margined
TURBO
Perpetual
Contract
represents
Binance
Futures’
ongoing
efforts
to
diversify
its
product
offerings
and
provide
traders
with
more
options
to
hedge
and
leverage
their
positions.
As
this
new
product
goes
live,
traders
are
encouraged
to
familiarize
themselves
with
its
specifications
and
associated
risks.

Image
source:
Shutterstock

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