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Binance's Bitcoin (BTC) Quarterly Futures Kick-Off on a High Note - Ethereum World News

Quick take:

Yesterday, Binance launched the BTCUSD Quarterly Futures Contract with a leverage of up to 125x. To promote the derivatives product, the exchange will offer users 30 days of maker fee rebates and taker fees as low as 0.020%. Within 24 hours of the launch, the product has traded over $100 million in trade volume. 

Early yesterday, the crypto exchange of Binance launched the Bitcoin Quarterly Futures contract with a maximum leverage of 125x. The new BTC quarterly futures contract has a very attractive fee structure with a maker rebate and taker fees as low as 0.020%. The fees of the quarterly futures contract are lower than the usual Bitcoin perpetual contract on the platform. A full breakdown of the fee structure comparing the two derivatives products can be found in the following table by the team at Binance.

New Bitcoin Quarterly Contracts Kick-Off on a High Note

The launch of the derivatives product was overshadowed by Bitcoin dipping below $9,300. However, 24 hours after the Bitcoin Quarterly futures contract was launched, the VP of Binance Futures, Aaron Gong, notified the crypto trading community that the new derivative had had more than $100 Million in trade volume since. According to Mr. Gong, the trade volume was 3 times the volume of the usual Bitcoin perpetual contract. His full statement highlighting the achievement can be found in the following tweet.

More than 100M in volume on day 1 for @Binance ’s Quarterly Futures. That's 3x our day 1 perps volume. Will quarterlies 3x our perps by volume in the future?#BinanceFutures never stops #BUIDLing.Check it out for yourself: https://t.co/ZLWUy4oukf pic.twitter.com/rpj7xdXYN6 — Aaron Gong (@AG_Binance) June 12, 2020 More on the Bitcoin Quarterly Futures Contracts by Binance

As with all quarterly futures contracts, the Binance version has a set expiration and settlement date. Traders can find a ‘Time to delivery’ tab on the Binance trading interface right above ...

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