Binance just added 5 stock-linked perps: OKLO, TWST, $CVNA , $RUM and XOM. The part traders can’t treat like normal crypto perps is the clock.
All five trade 24/7 with up to 20x leverage and funding every 8 hours. But the underlying U.S. stocks do not have continuous price discovery.
#Binance ’s TradFi-perp model handles that gap differently: while the external market is open, the Price Index updates every second. Outside those trading hours, the index stays at its last value, while the Mark Price uses a smoothed futures price.
That matters because liquidation is based on Mark Price, not simply the last stock print.
So overnight or weekend exposure is not just “stock trading after hours.” You’re trading a perpetual while its external reference market may be closed.
The new contracts are useful. The risk model is the part worth learning before using the 20x button!
All five trade 24/7 with up to 20x leverage and funding every 8 hours. But the underlying U.S. stocks do not have continuous price discovery.
#Binance ’s TradFi-perp model handles that gap differently: while the external market is open, the Price Index updates every second. Outside those trading hours, the index stays at its last value, while the Mark Price uses a smoothed futures price.
That matters because liquidation is based on Mark Price, not simply the last stock print.
So overnight or weekend exposure is not just “stock trading after hours.” You’re trading a perpetual while its external reference market may be closed.
The new contracts are useful. The risk model is the part worth learning before using the 20x button!
