Binance Futures has announced the launch of a new NEIROETHUSDT Perpetual Contract, scheduled for September 6, 2024, at 14:00 UTC.
With the introduction of this new contract, Binance aims to cater to the growing demand for trading options and enhance its user experience.
This new product will allow users to trade the price movements of Neiro Ethereum (NEIROETH) against USDT with up to 75x leverage, catering to experienced traders seeking higher exposure with relatively smaller capital. The perpetual contract operates 24/7, ensuring flexibility and constant access to the market.
The contract offers a tick size of 0.0001, which determines the smallest price increment in trading. One of the key features is the funding rate, which is capped at +2.00% / -2.00% and settles 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.
Additionally, Binance’s Multi-Assets Mode will be supported for this contract, allowing traders to use other cryptocurrencies, such as Bitcoin (BTC), as margin instead of just USDT. This feature provides greater flexibility, especially for traders holding diverse crypto portfolios. However, certain “haircuts” may apply depending on the assets used for margin.
Binance has emphasized that contract specifications such as the funding fee, tick size, leverage, and margin requirements may be adjusted depending on market conditions. This allows Binance to manage risks and provide a safer trading environment.
As with all Binance products, users are encouraged to review the Terms of Use and the Binance Futures Service Agreement to fully understand the risks and conditions before engaging in trading.
Also Read: Binance Launches DOGS Perpetual Contract with 20x Leverage
