In an exciting update, Binance Futures announced the launch of the LOOM Perpetual Contract, scheduled to launch on 11-10-2023 at 17:30 EST. This new development will offer investors the opportunity to use up to 10x leverage.
Binance Futures Prepares to Introduce USDⓈ-M LOOM Perpetual Contract Offering Up to 10x Leverage
Key details about the LOOM/USDT Perpetual Contract are as follows:
Maximum Funding Rate: LOOMUSDT Perpetual Contract will have a maximum funding rate of +3.00%/-3.00% at the time of its official launch. This ratio is a very important factor that investors should consider when planning their strategies.
Funding Fee Settlement Frequency: Funding fees for the LOOMUSDT Perpetual Contract will be paid every four hours. This streamlined payment process aims to provide a transparent and efficient trading experience for users.
The launch of the USDⓈ-M LOOM Perpetual Contract with advanced leverage options reflects Binance's commitment to providing diverse trading opportunities to its global user base.
As the launch date approaches, investors are encouraged to stay tuned for updates and announcements from Binance Futures.
*This is not investment advice.