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In a move to broaden trading choices for its users, Binance has officially unveiled the SANTOSUSDT perpetual futures contract, associated with the Santos FC Fan Token (SANTOS). This significant launch allows traders to utilize leverage ratios of up to 75 times, enhancing their trading capabilities.
What Are the Key Features of the New Contract?
The SANTOSUSDT futures contract is designed to capture the interest of crypto traders with a focus on sports. Users can trade SANTOS using USDT as collateral, which is stable and pegged to the US dollar.
How Does the Funding Rate Function?
The contract stipulates a minimum price fluctuation of 0.001, with a maximum funding rate oscillating between +2.00% and -2.00%. This arrangement ensures that traders are charged a funding fee every four hours, thereby allowing for efficient risk management in volatile conditions.
Enhancing flexibility, the SANTOSUSDT contract supports “Multi-Assets Mode.” This feature permits traders to leverage multiple cryptocurrencies, including Bitcoin (BTC), for margin requirements. Such an approach provides greater trading alternatives and helps mitigate risks associated with market fluctuations.
- The SANTOSUSDT futures contract supports up to 75x leverage.
- Price movements start at 0.001, with a funding fee charged every four hours.
- Traders can utilize various cryptocurrencies for collateral.
Following the announcement of this new trading option, the value of the SANTOS coin skyrocketed by 42.12%, reaching $4.74. Concurrently, trading volumes surged by 55.15%, totaling approximately $26.89 million, demonstrating strong market interest and engagement.