Binance has launched a new online battle function. The first trading pair launched as part of the battle will be the BTCUSD perpetual contract. Users can participate in the battle via Web or H5 page.
About the battle
Joining a battle means that the user can open a position by competing against other users to gain points. If the user expects the price to rise after 5 minutes, they would select “Long” to express their view. Conversely, if they expect the price to fall, users may choose to go “Short”. The battle will start when an opponent is matched. In each battle, users are able to collect points accordingly. (The detailed points redeem scheme will be announced soon).
Note: You may choose to end the battle manually after a 2-minutes countdown, or wait for the position to be auto-closed by the system.
Please refer to the guide for more details: How to start a battle
Important to notes:
- The battle is currently only available on the BTCUSD perpetual contract for Coin-Margined Futures. Please make sure you have a futures account before participating in the battle.
- Leverage and positions will be automatically set to 20x Isolated Margin during the battle.
- Check if you have any position or open order on the BTCUSD perpetual contract. If you have, please remove them to start the battle.
- Please ensure that there is enough BTC balance in your futures coin wallet so that you have sufficient margin to support the number of orders placed in the battle.
- You are not allowed to make any changes to the BTCUSD order placed during the battle in any other way, including change in leverage, quantity, reduce/close/open position, change in margin-mode etc. Users should self-assess any possible losses that arise from the abnormal battle result caused by those actions. Trading on symbols is not affected.
- The same trading fee shall apply as the BTCUSD perpetual contract. Please refer to the Taker rate on the Coin-Margined Futures Trading Fee Rate
Risk warning: Futures trading is a highly risky endeavor, with the potential for both great profits and significant losses. Please be aware that in the event of extreme price movement, there is a chance that all margin balance in your futures wallet may be liquidated.
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