Futures Will Launch USDⓈ-M GLM Perpetual Contract With Up to 50x Leverage

2024-02-22 04:05

Fellow Binancians,

To expand the list of trading choices offered on Binance Futures and enhance users’ trading experience, Binance Futures will launch the USDⓈ-M GLM Perpetual Contract at 2024-02-22 10:00 (UTC), with up to 50x leverage.

More details on the USDⓈ-M GLM Perpetual Contract can be found in the table below:

USDⓈ-M Perpetual Contract

GLMUSDT

Launch Time

2024-02-22 10:00 (UTC)

Underlying Asset

Golem (GLM)

Settlement Asset

USDT

Tick Size

0.0001

Capped Funding Rate

+2.00% / -2.00%

Funding Fee Settlement Frequency

Every Four Hours

Maximum Leverage

50x

Trading Hours

24/7

Multi-Assets Mode

Supported

Please Note:

The maximum funding rate of the GLMUSDT Perpetual Contract at the time of launch is +2.00% / -2.00%.

The funding fee settlement frequency is every four hours.

Time

Max Funding Rate

2024-02-22 12:00 (UTC)

+2.00% / -2.00%

2024-02-22 16:00 (UTC)

+2.00% / -2.00%

2024-02-22 20:00 (UTC)

+2.00% / -2.00%

2024-02-23 00:00 (UTC)

+2.00% / -2.00%

…

…

Qualified USDⓢ-margined futures liquidity providers will be eligible to enjoy 0.005% maker fee rebates for trades on the GLMUSDT Perpetual Contract for approximately 14 to 15 days. Refer to this announcement for more information.

Based on market risk conditions, Binance may adjust the specifications of the GLMUSDT Perpetual Contract from time to time, which include the funding fee, tick size, maximum leverage, initial margin, and/or maintenance margin requirements.

Multi-Assets Mode allows users to trade the GLMUSDT Perpetual Contract across multiple margin assets, subject to the applicable haircuts. For example, when the Multi-Assets Mode is activated, users can use BTC as margin when trading the GLMUSDT Perpetual Contract.

The GLMUSDT Perpetual Contract is subject to the terms of the Binance Terms of Use and the Binance Futures Service Agreement.