Binance Futures, a leading platform in the cryptocurrency futures market, has announced the launch of a new trading product, the USDⓈ-M NFP Perpetual Contract. Scheduled to go live on 2023-12-27 at 12:30 (UTC), the new offering will provide traders with the opportunity to leverage up to 50 times on the NFPrompt (NFP) asset.
The development is a significant addition to Binance Futures‘ diverse range of trading instruments, catering to the evolving needs of the global trading community.
Key features of the USDⓈ-M NFP perpetual contract
The USDⓈ-M NFP Perpetual Contract, known as NFPUSDT, is poised to offer an array of features aimed at enhancing the trading experience for its users. Key aspects of the contract include the underlying asset NFPrompt (NFP), settlement in USDT, a tick size of 0.0001, and a capped funding rate of +2.00% / -2.00%. Additionally, the funding fee will be settled every four hours, and traders can leverage up to 50x. The contract also boasts 24/7 trading hours and supports Multi-Assets Mode. The perpetual contract is tailored to provide both flexibility and high leverage, enabling traders to optimize their strategies at any time.
Regarding the funding rate and fee structure, the NFPUSDT Perpetual Contract will launch with a maximum funding rate of +2.00% / -2.00%, and the funding fee will be settled every four hours. The initial funding rate settlements are scheduled for 2023-12-27 at 16:00 (UTC), 20:00 (UTC), 2023-12-28 at 00:00 (UTC), and 04:00 (UTC). In addition, for about 14 to 15 days following the launch, qualified USDⓈ-margined futures liquidity providers will be eligible for a 0.005% maker fee rebate on trades involving the NFPUSDT Perpetual Contract, further incentivizing participation in the new offering.
Funding rate and fee structure
The USDⓈ-M NFP Perpetual Contract, labeled as NFPUSDT, is set to enhance the trading experience with a suite of features tailored for traders. The contract is based on the underlying asset NFPrompt (NFP) and uses USDT for settlement. It offers a fine-tuned tick size of 0.0001 and a capped funding rate of +2.00% / -2.00%. Additionally, the funding fee is settled every four hours, providing a dynamic trading environment. The contract allows for a maximum leverage of 50x and supports round-the-clock trading, operating 24/7. Moreover, it includes a Multi-Assets Mode, offering traders the flexibility and high leverage necessary to maximize their trading strategies at any given time.
At its launch, the NFPUSDT Perpetual Contract will feature a maximum funding rate of +2.00% / -2.00%, with the funding fee being settled every four hours. The schedule for the initial funding rate settlements is set for specific times, starting from 2023-12-27 at 16:00 (UTC), followed by 20:00 (UTC), then on 2023-12-28 at 00:00 (UTC) and 04:00 (UTC). In a move to further incentivize trading, qualified USDⓈ-margined futures liquidity providers will be eligible for a 0.005% maker fee rebate on trades involving the NFPUSDT Perpetual Contract. The rebate will be available for approximately 14 to 15 days following the contract’s launch, offering an additional benefit to participants in the new and exciting trading venture.
Multi-assets mode and contract adjustments
The NFPUSDT Perpetual Contract will support Binance’s Multi-Assets Mode, allowing users to trade using multiple margin assets. For instance, traders can use BTC as margin when trading the NFPUSDT Perpetual Contract. The feature enhances the flexibility and convenience for traders, enabling them to manage their portfolios more efficiently.
Binance Futures also reserves the right to adjust the specifications of the NFPUSDT Perpetual Contract based on market risk conditions. These adjustments may include changes to the funding fee, tick size, maximum leverage, initial margin, and maintenance margin requirements, ensuring the contract remains viable and responsive to market dynamics.
Conclusion
The introduction of the USDⓈ-M NFP Perpetual Contract by Binance Futures marks a new horizon in cryptocurrency trading. The contract offers traders enhanced leverage, flexibility, and a range of features designed to optimize their trading strategies. As Binance Futures continues to expand its product offerings, it reaffirms its commitment to providing a comprehensive and dynamic trading platform for the global cryptocurrency community. Traders are encouraged to familiarize themselves with the contract’s features and leverage the opportunities it presents as they navigate the exciting world of cryptocurrency futures trading
