Binance Futures has announced updates to its leverage and margin tiers for several USDⓈ-M perpetual contracts. Effective from 10:30 UTC today, the adjustments impact contracts including STPTUSDT, SNTUSDT, MBLUSDT, RADUSDT, and CVXUSDT. This change will affect all existing positions opened before the update, urging traders to adjust their positions and leverage promptly to prevent potential liquidations.
Binance Futures also disclosed plans to delist two sets of perpetual contracts. The contracts for STPTUSDT, SNTUSDT, and MBLUSDT will see all positions closed and settled automatically on May 13, 2024, at 09:00 UTC. Similarly, RADUSDT and CVXUSDT contracts will undergo the same process on May 14, 2024, at 09:00 UTC. Users are encouraged to close any open positions prior to these dates to avoid automatic settlement. Following the settlements, these contracts will be officially removed from the platform.
Restrictions on New Positions
Starting from May 13, 2024, at 08:30 UTC for STPTUSDT, SNTUSDT, and MBLUSDT, and from May 14, 2024, at 08:30 UTC for RADUSDT and CVXUSDT, traders will not be allowed to open new positions in these contracts. This move comes as part of Binance’s efforts to streamline its offerings and enhance trading safety in response to market conditions.
Binance Futures has indicated that it may implement further protective measures for the affected contracts if necessary. These may include adjustments to leverage values, position sizes, and maintenance margins, among other changes. The aim is to safeguard users and manage risks during periods of extreme market volatility.
Traders holding positions in the affected contracts should take immediate action to comply with the new requirements and prepare for the upcoming delisting. The platform’s decision to adjust financial structures reflects ongoing efforts to optimize trading conditions and manage systemic risk effectively.
