Binance Futures Adds SXTUSDT Perpetual Contract With 5x Leverage

Binance Futures, the derivatives trading platform of Binance, has announced the commencement of pre-market trading for SXTUSDT perpetual contracts. This initiative is set to begin at 16:30 (ET8) on May 2, marking a significant expansion in the platform's offerings and providing users with additional trading opportunities.

The SXTUSDT perpetual contract will be based on the Space and Time (SXT) asset, with USDT serving as the settlement asset. This contract will offer a maximum leverage of 5x, enabling traders to amplify their positions. The funding rate for the contract will be recalculated every four hours, with a maximum rate of +2.00% and a minimum rate of -2.00%. The tick size for the contract is set at 0.00001, ensuring precise pricing. Trading for this contract will be available 24/7, providing continuous market access for traders.

The introduction of the SXTUSDT perpetual contract is notable as it brings a new asset to the Binance Futures platform. Space and Time is a blockchain project focused on decentralized storage and computing, and its inclusion in the perpetual contract offerings underscores the growing interest in decentralized technologies. This move is likely to attract traders who are interested in the potential of decentralized storage solutions and are looking to capitalize on the price movements of SXT.

The pre-market trading phase is a crucial step in the launch process, as it allows traders to familiarize themselves with the new contract and its features before the official launch. This phase also provides an opportunity for Binance to gather feedback and make any necessary adjustments to ensure a smooth trading experience. The launch of the SXTUSDT perpetual contract is expected to further enhance the trading ecosystem on Binance Futures, offering more diverse investment opportunities for traders.