Binance Futures to Introduce USDC Perpetual Contract with Up to 30x Leverage
In a recent announcement, Binance Futures has revealed that it will be launching the USDⓈ-M USDC perpetual contract, with up to 30x leverage. The contract will be available from 2023-03-12 17:00 (UTC), and users will be able to trade it 24/7.
The underlying asset for this contract will be USDC, while the settlement asset will be USDT. The tick size has been set at 0.00001, and the capped funding rate will be Clamp (Funding Rate, -0.75 * Maintenance Margin Ratio, 0.75 * Maintenance Margin Ratio). The maximum leverage allowed for this contract will be 30x.
Binance has stated that it may adjust the specifications of the contracts from time to time, based on market risk conditions. Additionally, the multi-asset mode will allow users to trade the USDCUSDT Perpetual Contract across multiple margin assets, subject to applicable haircuts.
It’s worth noting that the USDCUSDT Perpetual Contract will be subject to the terms of the Binance Terms of Use and the Binance Futures Service Agreement.
As reported by AZCoin News today, Binance has recently added three new trading pairs to its platform. Traders can now trade BNB/USDC, BTC/USDC, and ETH/USDC on Binance Spot. This announcement comes shortly after Binance reintroduced USDC trading with the USDC/USDT trading pair. The temporary halt in auto-conversion of USDC to BUSD was implemented as a standard risk-management procedure by the exchange, due to the high inflows and increasing burden of supporting the conversion.
Read more:
- Binance’s Zero Trading Fees For BTC/TUSD And USD Stablecoin Pairs Lead To Over 50% Surge In TrueFi’s TRU Token
- Binance Reintroduces USDC/USDT Trading Pair In Surprising Move At 2 PM UTC
- Binance Expands Trading Pairs With BNB/USDC, BTC/USDC And ETH/USDC