Binance delists $USDP on 24 September. If you only trade spot, that date is your deadline. If you hold the perpetual of the next name on that list, it is not.
We matched every Binance delisting announcement since June 2024 against the actual settlement date of that token's USDT perpetual. 62 token-announcement pairs:
- The perpetual was never settled within 24 hours of the announcement. The fastest was 4 days.
- Median: 6 days from announcement to settlement.
- In 50 of the 62 cases the perpetual was settled BEFORE the delisting date printed in the announcement, not on it.
The most recent example is three weeks old. ICX, SCRT and STORJ were announced on 20 August with a delisting date of 3 September. Their perpetuals were settled on 26 August, eight days before the date most holders had written down.
There is a tail worth knowing about: 12 of the 62 perpetuals kept trading long after the spot delisting. OMG was settled 242 days after its announcement. So "the perp dies with the spot pair" is not automatic either. The only thing that never happened in 62 cases was a settlement inside the first day.
One more number, stated as a measurement and not as a trade: shorting the perpetual after the announcement beat random entries in the same coin by 7.6 percentage points per announcement, across the 18 announcements we could test. The interval is wide (+0.9 to +14.8) and 11 of 18 were positive, so it is a finding about 18 events, not a system.
If you hold the perp of a token that gets this notice: you have days, not hours, and your contract usually dies before the spot date. Read the futures announcement for your pair, not the spot one.
#Delisting #BinanceFutures
We matched every Binance delisting announcement since June 2024 against the actual settlement date of that token's USDT perpetual. 62 token-announcement pairs:
- The perpetual was never settled within 24 hours of the announcement. The fastest was 4 days.
- Median: 6 days from announcement to settlement.
- In 50 of the 62 cases the perpetual was settled BEFORE the delisting date printed in the announcement, not on it.
The most recent example is three weeks old. ICX, SCRT and STORJ were announced on 20 August with a delisting date of 3 September. Their perpetuals were settled on 26 August, eight days before the date most holders had written down.
There is a tail worth knowing about: 12 of the 62 perpetuals kept trading long after the spot delisting. OMG was settled 242 days after its announcement. So "the perp dies with the spot pair" is not automatic either. The only thing that never happened in 62 cases was a settlement inside the first day.
One more number, stated as a measurement and not as a trade: shorting the perpetual after the announcement beat random entries in the same coin by 7.6 percentage points per announcement, across the 18 announcements we could test. The interval is wide (+0.9 to +14.8) and 11 of 18 were positive, so it is a finding about 18 events, not a system.
If you hold the perp of a token that gets this notice: you have days, not hours, and your contract usually dies before the spot date. Read the futures announcement for your pair, not the spot one.
#Delisting #BinanceFutures
