USDⓈ-Margined Futures Contract Specifications

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USDⓈ-Margined Futures contracts on Binance Futures are not inverse contracts. Instead, they are linear futures products that are quoted and settled in USDT or USDC - stablecoins pegged to the value of the U.S. dollar.

One of the key benefits of USD-settled contracts is that you can easily calculate your returns in fiat. This makes USDⓈ-margined contracts more intuitive. For example, when you make 500 USDT in profit, you can easily estimate that the profit is worth approximately $500 - since the value of 1 USDT is pegged closely to 1 USD.

USDⓈ-margined contracts offer the following characteristics:

• Settlement in USDT or USDC: Contracts are denominated and settled in USDT or USDC.
• Expiration: Perpetual and Quarterly.
• Clear pricing rules: Each USDⓈ-margined Futures contract specifies the base asset's quantity delivered for a single contract, also known as "contract unit". For instance, BTC/USDT, ETH/USDT, and BCH/USDT Futures contracts represent only one unit of its respective base asset, similar to spot markets.
• Funding fee: USDⓈ-M Perpetual contracts carry a funding fee. Funding payments are transferred between traders and are charged every eight hours. Please note that this time period may vary depending on market conditions.

Minimum order notional limit rule for USDⓈ-M Futures contracts:

The minimum notional value of each order must be no less than the Minimum Notional Value which can be checked on the trading rule page. If the order notional value is less than the Minimum Notional Value, the order will be rejected.

For example, the Minimum Notional Value for BTCUSDT is 100 USDT. If the user places an order with a notional value greater than or equal to 100 USDT, the order will be successfully accepted. Otherwise, orders with a notional value below 100 USDT will be rejected.

Notes:

• “Reduce-Only” order is not affected.
• Binance Futures will adjust the minimum order threshold from time to time without prior announcement, you can check more details via API or on the Trading Rules page.

For complete USDⓈ-M futures contract specifications, please refer to:

• Trading Rules
• Leverage and Margin of USDⓈ-M Futures Contracts
• Liquidation Protocols