Binance announced it gradually converted STABLEUSDT perpetual pre-market trading to a standard USDⓈ-M perpetual contract on December 8 at 13:00 UTC. This change aligns the mark price and funding with standard rules once a stable spot index is ready.
According to Binance, its pre-market perpetuals are designed to allow users to trade a new derivatives pair before robust spot-market price references exist. The risk controls rely on a simplified mark price until an index can be formed. Once Binance determines a stable index price from spot markets, the contract can be migrated to the standard USDⓈ-M framework. This migration ensures that liquidation and unrealized profit and loss (PnL) checks reference the exchange’s normal mark-price methodology rather than purely pre-market trading prints.
Binance said that the STABLEUSDT pre-market perpetual began its gradual transition on December 8 at 13:00 UTC, with the conversion taking up to three hours depending on volatility and the availability of a stable index price. Trading remained available, and open orders and positions stayed in place during this period. During the transition, the mark price was set to converge to Median (Price 1, Price 2, Contract Price) with a ±1% per-second cap. After the pre-market ended, funding-rate rules allowed rates to reach up to +2.00% or down to -2.00%.
In Binance Futures’ funding-rate rules, funding payments for perpetual contracts occur every eight hours at 00:00, 08:00, and 16:00 UTC. Binance notes an expected 15-second deviation in the actual funding-fee transaction timestamp that can affect whether a newly opened position is charged. The same guidance states that the default interest-rate component is 0.03% per day (0.01% per funding interval) and that the final funding rate is subject to cap-and-floor constraints linked to the contract’s maintenance margin ratio.
Binance is a global cryptocurrency exchange and digital-asset services company founded in 2017 by Changpeng Zhao and Yi He. The platform operates internationally and offers spot trading and derivatives such as USDⓈ-margined perpetual futures, alongside other crypto-related products and services. Public descriptions note that Binance has used a distributed operating structure without consistently identifying a single official headquarters while remaining one of the most widely used exchanges by trading activity.
