As a seasoned crypto investor with over a decade of experience under my belt, I find the announcement of Binance Futures’ new NEIROETHUSDT Perpetual Contract intriguing and promising. With my portfolio diversified across various assets, the Multi-Assets Mode support is particularly attractive, allowing me to leverage my Bitcoin holdings for margin.
On September 6, 2024, at 14:00 UTC, Binance Futures is set to debut a brand-new NeiroethUSDT Perpetual Contract.
This innovative product offers seasoned traders an opportunity to increase their investment exposure in Neiro Ethereum (NEIROETH) versus USDT by up to 75 times, all while requiring less initial capital. The perpetual contract operates non-stop, providing uninterrupted access and flexibility within the market.
The agreement provides for a minimal price change of 0.0001 during trading, known as tick size. A significant aspect of this contract is the funding rate, which can’t exceed ±2.00% and adjusts every four hours.
This funding rate mechanism helps balance long and short positions, and traders must consider this when planning their trades. The initial funding settlement will start on September 6 at 16:00 UTC, with subsequent settlements following every four hours.
Furthermore, Binance’s Multi-Assets Mode will be available for this contract, enabling traders to utilize various cryptocurrencies like Bitcoin (BTC) as collateral instead of only USDT. This feature offers increased adaptability, particularly for traders who possess diverse crypto investments. However, it’s important to note that adjustments known as “haircuts” might be imposed depending on the assets selected for collateral.
On Binance, these aspects of contract details like funding fees, pricing increments (tick size), borrowing power (leverage), and safety measures (margin requirements) can be altered based on market fluctuations. This flexibility enables Binance to effectively control risks and foster a more secure trading experience for its users.
For any Binance services you plan to use, it’s crucial to carefully read through both the Terms of Use and the Binance Futures Service Agreement to ensure a complete understanding of potential risks and conditions associated with trading.
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2024-09-06 18:29