Binance to Launch SLXUSDT Perpetual Futures With Up to 20x Leverage
Summary
- Binance said trading in the SLXUSDT perpetual futures contract will begin at 4:30 p.m. on June 1.
- The product will offer up to 20x leverage, a minimum trading amount of 5 USDT, and a funding rate cap of ±2.00%%.
- The contract will support Multi-Assets Mode and Futures Copy Trading, and funding rates and leverage may change depending on market conditions.
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Global cryptocurrency exchange Binance is launching a new perpetual futures contract.
Binance said in a June 1 notice that trading in the SLXUSDT perpetual futures contract will begin at 4:30 p.m. Korea Standard Time on June 1. The contract will offer leverage of up to 20x.
The underlying asset is Solstice (SLX), a DeFi protocol that provides on-chain institutional-grade yield products. The settlement asset is USDT.
The tick size is 0.00001. The minimum order size is 1 SLX, and the minimum trading amount is 5 USDT. The funding rate cap is set at ±2.00%, with settlement every four hours.
The contract will support Multi-Assets Mode, allowing users to use various assets, including BTC, as margin.
Binance said the contract will also be supported for Futures Copy Trading within 24 hours of listing. Trading terms, including funding rates and leverage, may change depending on market conditions, it added.
A futures listing does not guarantee a spot listing, and listing decisions for the two markets are made separately, Binance said.
