Cryptocurrency exchange Binance announced it will launch the SANTOSUSDT perpetual futures contract for the Santos FC Fan Token (SANTOS) today, aiming to expand its trading options for users. This perpetual futures contract allows users to trade with leverage of up to 75 times.
Details of the SANTOSUSDT Perpetual Futures Contract
Binance is gaining attention with its new products that offer sports-focused cryptocurrency investment options. The SANTOSUSDT futures contract facilitates trading based on the Santos FC Fan Token (SANTOS) and enables users to use USDT, which is pegged to the US dollar, as collateral.
The smallest price movement unit for the contract is set at 0.001, while the maximum funding rate is capped between +2.00% and -2.00%. This feature anticipates users will pay a funding fee every four hours, simplifying risk management against high volatility.
This contract also supports “Multi-Assets Mode,” allowing users to use not only USDT but also other cryptocurrencies as collateral. Users can provide margin for SANTOSUSDT contracts using different cryptocurrencies like Bitcoin (BTC) 
$98,892, thereby increasing trading flexibility and providing protection against market volatility.
SANTOS Price Soars After Announcement
Following Binance’s listing announcement, the price of the SANTOS coin surged sharply. Data shows the altcoin‘s price jumped by 42.12% to reach $4.74. Along with the price increase, trading volume also spiked significantly, rising by 55.15% to $26.89 million.
