Main features of USDⓈ-M NFP perpetual contract

The USDⓈ-M NFP Perpetual Contract, known as NFPUSDT, is poised to offer a range of features designed to enhance users’ trading experience. Key aspects of the contract include the underlying asset NFPrompt (NFP), settlement in USDT, a quote unit of 0.0001, and a funding rate cap of +2.00% / -2.00%. In addition, funding fees are settled every four hours, and traders can use up to 50x leverage. The contract also has 24/7 trading hours and supports multi-asset mode. Perpetual contracts are tailored to provide both flexibility and high leverage, allowing traders to optimize their strategies at any time.

Regarding the funding rate and fee structure, the maximum funding rate when the NFPUSDT perpetual contract is launched is +2.00%/-2.00%, and the funding fee is settled every four hours. The initial funding rate settlement time is scheduled for 16:00 (UTC), 20:00 (UTC) on December 27, 2023, 00:00 (UTC) and 04:00 (UTC) on December 28, 2023. In addition, for approximately 14 to 15 days after launch, qualified USD margin futures liquidity providers will be eligible to receive a 0.005% order fee rebate on transactions involving the NFPUSDT perpetual contract, further incentivizing participation in the new product.

Funding Rates and Fee Structure

The USDⓈ-M NFP Perpetual Contract (tagged NFPUSDT) is designed to enhance the trading experience with a series of features tailored for traders. The contract is based on the underlying asset NFPrompt (NFP) and uses USDT for settlement. It offers a nudge price tick of 0.0001 and a funding rate cap of +2.00% / -2.00%. In addition, funding fees are settled every four hours, providing a dynamic trading environment. The contract allows a maximum leverage of 50x and supports round-the-clock trading, running 24/7. Additionally, it includes a multi-asset mode that provides traders with the necessary flexibility and high leverage to maximize their trading strategies at any given time.

When the NFPUSDT perpetual contract is launched, the maximum funding rate is +2.00%/-2.00%, and the funding fee is settled every four hours. The initial funding rate settlement time is 16:00 (UTC), 20:00 (UTC) on December 27, 2023, and 00:00 (UTC) on December 28, 2023. Coordinated Universal Time (UTC) and 04:00 (UTC). To further incentivize trading, qualified USD margin futures liquidity providers will be eligible for a 0.005% order fee rebate on trades involving the NFPUSDT perpetual contract. This rebate will be valid for approximately 14 to 15 days after contract launch, providing an additional benefit to participants in a new and exciting trading venture.

Multi-asset model and contract adjustments

The NFPUSDT perpetual contract will support Binance’s multi-asset model, allowing users to trade using multiple margin assets. For example, traders can use BTC as margin when trading the NFPUSDT perpetual contract. This feature enhances flexibility and convenience for traders, allowing them to manage their portfolios more efficiently.

The Binance Futures trading platform also reserves the right to adjust the specifications of the NFPUSDT perpetual contract based on market risk conditions. These adjustments may include changes to funding fees, price tick size, maximum leverage, initial margin and maintenance margin requirements to ensure the contract remains viable and responsive to market dynamics.

in conclusion

Binance Futures has released the USDⓈ-M NFP perpetual contract, bringing new development opportunities to cryptocurrency trading. This contract provides traders with higher leverage and more flexible trading methods, as well as a series of features to optimize trading strategies. Binance Futures trading platform has always been committed to providing a comprehensive and innovative trading platform to the global cryptocurrency community. Traders are encouraged to familiarize themselves with the functionality of this contract and take advantage of the opportunities it provides to explore the exciting world of cryptocurrency futures trading. We are committed to continuously expanding our product range to meet the needs of traders.

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