Binance Futures Introduces STX And COCOS Perpetual Contracts
Binance Futures, a leading cryptocurrency futures trading platform, announced the launch of two new perpetual contracts for trading on Monday, February 21. The new contracts will be available for trading starting at 2:30 PM and 2:45 PM UTC, respectively.
Binance Futures will launch USDⓈ-M STX and COCOS perpetual contracts on 2023-02-21 14:30 (UTC) and 2023-02-21 14:45 (UTC) respectively, with up to 20x leverage. STX has been affected by bitcoin NFT, and has risen by 125% in the last 7 days. https://t.co/7yvI4HnyQi https://t.co/K8Tdxn4Siu
— Wu Blockchain (@WuBlockchain) February 21, 2023
STXUSDT and COCOSUSDT Perpetual Contracts
The first contract, STXUSDT, is a perpetual contract with STX as the underlying asset and USDT as the settlement asset. The second contract, COCOSUSDT, is a perpetual contract with COCOS as the underlying asset and USDT as the settlement asset. Both contracts will be available for trading with up to 20x leverage.
The launch of these new contracts will give Binance Futures users more trading options and greater flexibility when it comes to managing risk. The STXUSDT and COCOSUSDT contracts will be available for trading in multi-asset mode, allowing users to trade them across multiple margin assets.
Binance has implemented a capped funding rate for both contracts, meaning that the funding rate will be clamped between -0.75 and +0.75 times the maintenance margin ratio. This is designed to prevent large swings in funding rates that can occur in volatile markets.
Updated Contract Terms
As with all Binance Futures products, the new contracts are subject to the terms of the Binance Terms of Use and the Binance Futures Service Agreement. Binance may adjust the specifications of the contracts from time to time based on market risk conditions, including tick size, maximum leverage, initial margin, and/or maintenance margin requirements.
Binance Futures offers traders a variety of tools and resources to help them make informed decisions about their trades. These include trading rules and guides, a fee structure, and a funding rate history. Traders can also use the Binance Price Index to track the price of cryptocurrencies and monitor market trends.
Overall, the launch of the STXUSDT and COCOSUSDT perpetual contracts on Binance Futures is a positive development for traders who are looking for more trading options and greater flexibility. With the availability of these new contracts, Binance Futures is well positioned to continue to be a leading player in the cryptocurrency futures market.