Binance Futures is adding a new trading option for rocket pool tokens: the RPL/USDT Perpetual Contract. Starting September 9, 2024, at 12:30 UTC, traders can leverage up to 75x with Rocket Pool (RPL) against Tether (USDT).
Users can trade the RPLUSDT perpetual contract using multiple margin assets, including BTC, through the Multi-Assets Mode.
This new addition aims to cater to the growing demand for RPL trading and provide users with more diverse investment opportunities. It will be available 24/7, providing more trading flexibility.
The contract features a tick size of 0.01 and a funding rate capped at +2.00% / -2.00%, with fees settled every four hours. This setup enhances trading opportunities and risk management.
Binance reserves the right to adjust the contract’s specifications, including the funding fee, tick size, maximum leverage, initial margin, and maintenance margin requirements, based on market conditions.
Interestingly, the announcement coincided with Rocket Pool’s social media silence since 19 December 2023. Despite this, RPL’s price surged by 30% following the news, stabilizing at a 25% gain.
Binance Futures’ Multi-Assets Mode allows traders to use various cryptocurrencies, like BTC, as a margin, offering more ways to manage trades. Binance may adjust the contract’s specifics based on market conditions, ensuring it remains flexible and responsive.
Also Read: Binance Launches NEIRO Perpetual Contract with 75x on Futures
