According to the announcement from Binance, the exchange will admit MOONSHOTUSDT USDⓈ-M Futures Pre-IPO Perp to trading on Binance RIE and to clearing and settlement by Binance RCH, with trading set to start at 2026-09-22 08:30 (UTC). The contract is tied to Beijing Moonshot AI Technology Co., Ltd. and references the Hong Kong Stock Exchange (“HKEX”) as the exchange. Binance said the estimated share count is 1 billion shares, while noting that the actual total share count may differ and that the contract size will be adjusted accordingly if needed. The settlement asset is USDT, the tick size is 0.01, the minimum trade amount is 0.01 MOONSHOT, and the minimum notional value is 5 USDT. The maximum leverage is 20x, trading is available 24/7, and Multi-Assets Mode is supported. Binance also stated that the Pre-IPO Perp will be made available for Futures Copy Trading within 24 hours of launch.

Contract Details and Pricing Rules

Binance said the capped funding rate during the Pre-IPO trading period will be +0.005% per funding interval, and after the Pre-IPO trading ends it will be +1.00% / -1.00%. The funding fee settlement frequency is every four hours. The interest rate of the funding rate is 0.015% daily during the Pre-IPO trading period and 0% after the Pre-IPO trading ends. Binance also outlined the mark price methodology for the Pre-IPO trading period, saying it will be based on the average of the last 10 seconds’ trade prices on Binance RIE, calculated every second, with a ±1% price cap applied during the Pre-IPO trading and transition period. After the transition to a standard TradFi Perp, the mark price will be calculated using the median of Price 1, Price 2, and Contract Price. Binance said the Pre-IPO Perp will transition to a standard TradFi Perp when a Pre-IPO Transition Notice is published, and that the transition is expected on the day of the Official IPO Listing when a stable Price Index can be derived from third-party data vendors.