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Binance’s futures arm Binance Futures announced the listing of a new USDT-margined BSWUSDT perpetual futures contract with leverage up to 75x, offering a wider range of trading options for investors. Accordingly, futures trading for BSW (BSW) on Binance Futures will start today.
Details of BSW Perpetual Futures
The new contract will open for trading on September 5, 2024, at 09:00 AM TSI, allowing users to trade with leverage using BSW (BSW) as the underlying asset and USDT for settlement.
BSWUSDT perpetual futures contract will have a tick size of 0.00001 and a limited funding rate ranging from +2.00% to -2.00%. Funding fees will be paid every four hours according to Binance’s standard practices for perpetual futures contracts. The maximum leverage of 75x provides significant flexibility for investors to amplify their positions. However, investors should be aware that high leverage also increases the potential risk of loss.
A notable feature of the BSWUSDT perpetual futures contract is the support for Multi-Asset Mode, allowing users to trade the contract using multiple margin assets. For example, investors can use Bitcoin (BTC) as collateral while trading this contract, subject to applicable rates. This mode offers enhanced flexibility and allows for more diverse risk management strategies.
BSW Price Surged
The announcement of Binance Futures launching futures for BSW caused the price of the altcoin to surge sharply. According to CoinMarketCap data, BSW’s price rose by over 20%, reaching $0.09544, and was trading at $0.0939 at the time of writing, after a slight pullback.
Along with the price, the trading volume also increased sharply. Accordingly, BSW’s trading volume surged by 19.02%, reaching 25 million dollars.
