Binance Futures is set to launch the LOKA perpetual contract today at 14:30 (UTC), aimed at improving user trading experience and offering more options for cryptocurrency trading. This new contract will allow users to trade with a maximum leverage of 75x, providing the potential for higher profits even from minor price fluctuations.
Features of the LOKA Trading Contract and Maximum Funding Rate
The LOKAUSDT perpetual contract will initially offer a maximum funding rate of +2.00% / -2.00%. The funding fee will be calculated every four hours and reflected in users’ accounts, allowing traders to manage their positions more effectively.
Additionally, Binance has indicated that it may update the funding fee, minimum price step, maximum leverage, initial margin, and maintenance margin requirements based on market risk conditions.
Listing Announcement Causes LOKA Price Surge
Following Binance Futures’ listing announcement, the cryptocurrency LOKA, associated with the game League of Kingdoms Arena, experienced a sharp price increase. According to CoinMarketCap, the altcoin surged by over 20% within minutes, reaching $0.2959 after the listing news.
As of writing, the LOKA coin has retraced slightly and is trading at $0.2791. Meanwhile, trading volume has also seen a significant increase, rising by over 135% to nearly $19 million.
