Binance, one of the world’s largest cryptocurrency exchanges, said it will launch a new equity-based perpetual futures contract linked to Tesla Inc (NASDAQ:TSLA) shares, expanding its suite of derivatives tied to traditional financial assets.
According to a Binance exchange notice on Monday, trading in the TSLAUSDT equity perpetual contract will begin on January 28, at 14:30 UTC. The contract will be available on Binance Futures with leverage of up to five times.
The TSLAUSDT contract is designed to track the price of Tesla common stock listed on the Nasdaq, without granting traders ownership of the underlying shares.
The product is settled in USDT (Tether), meaning profits and losses are denominated in the stablecoin rather than in Tesla stock.
Binance said the contract will trade 24 hours a day, seven days a week, unlike traditional equity markets, which operate during limited hours. The minimum trade size is 0.01 TSLA, with a minimum notional value of 5 USDT. The tick size is set at 0.01.
Funding rates for the contract will be capped at plus or minus 2%, with funding fees settled every four hours.