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Binance Futures has announced the launch of a new USDⓈ-margined perpetual contract for SYN, offering traders the opportunity to leverage their positions by up to 50x.
Binance Futures Launches USDⓈ Margined SYN Perpetual Contract with Up to 50x Leverage
The SYNUSDT perpetual contract will be available on August 16, 2024 at 15:30.
The maximum funding rate for the new contract will be +2.00% / -2.00%, with funding fees paid every four hours.
Binance also noted that it may adjust the features of the contract, including funding fees, tick size, leverage, and margin requirements, depending on market risk conditions.
The platform's Multi-Asset Mode allows users to trade the SYNUSDT contract using multiple margin assets.
This feature offers flexibility, as users can use BTC as margin for trading this perpetual contract, for example.
This launch is part of Binance’s efforts to expand its range of trading options and improve the user experience on its futures platform.
The launch of the SYN perpetual contract is expected to provide investors with a wider range of opportunities in the market.
*This is not investment advice.