The popular trading platform has officially launched the HUMAUSDT perpetual contract. This new derivative product began trading on May 26, 2025, at 9:30 PM (UTC+8) across all platforms, including web, mobile app, and API interfaces.
Key Contract Specifications
The HUMA perpetual contract offers traders a standardized way to speculate on the future price movements of HUMA against USDT. Below are the essential details every trader should understand before engaging with this new instrument.
Core Contract Parameters
- Underlying Asset: HUMA/USDT index
- Settlement Currency: USDT
- Contract Face Value: 100 HUMA per contract
- Price Quotation: Price reflects the USDT value of 1 HUMA
- Minimum Price Movement (Tick Size): 0.00001
- Leverage Offering: Ranges from 0.01x to 20x
- Trading Hours: 24/7, all week
Funding Fee Mechanism
A critical component of perpetual contracts is the funding fee, which ensures the contract price converges with the spot index price. The fee is calculated and exchanged between long and short position holders every four hours.
The specific formula used is:Clamp(MA([(Contract Best Bid + Contract Best Ask) / 2 – Spot Index Price] / Spot Index Price – Interest), -1.5%, 1.5%), where Interest is set to 0.
Special Initial Launch Considerations
To ensure stability during the initial launch phase when premiums can be highly volatile, a temporary funding rate cap has been implemented.
- Before 00:00 (UTC+8) on May 27, 2025: The maximum funding rate is capped at 0.5%.
- After 00:00 (UTC+8) on May 27, 2025: The standard maximum funding rate cap of 1.5% will be applied.
The first funding fee exchange under the normal cap will occur at 04:00 (UTC+8) on May 27, 2025. The platform reserves the right to adjust the funding rate further based on market conditions if significant price deviations occur.
Other standard trading rules for the HUMAUSDT perpetual contract, such as price limits and order types, align with those of other perpetual contracts listed on the platform. For a comprehensive understanding of all rules and risks, traders are advised to consult the official perpetual contract documentation.
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Getting Started with Perpetual Contracts
For those new to derivative products, perpetual contracts are a type of futures contract without an expiry date. Traders can hold positions indefinitely, provided they maintain the required margin. The funding fee mechanism is what differentiates them from traditional futures and helps tether their price to the underlying spot asset.
Leverage allows you to open a position much larger than your initial capital, amplifying both potential profits and losses. It is crucial to use risk management tools like stop-loss orders and to fully understand leverage before trading.
Frequently Asked Questions
What is a perpetual contract?
A perpetual contract is a derivative trading product that mimics a traditional futures contract but has no settlement or expiration date. This allows traders to hold positions for as long as they wish. The funding fee mechanism is used to keep the contract's trading price aligned with the underlying spot market price.
How is the funding fee calculated and paid?
The funding fee is calculated every 4 hours based on the difference between the perpetual contract's mark price and the spot index price. If the rate is positive, traders with long positions pay those with short positions. If the rate is negative, shorts pay longs. The fee is automatically deducted from or added to your account balance.
Why is there a lower funding rate cap at launch?
Newly listed contracts often experience high volatility and price discovery. A temporary lower cap (0.5%) prevents excessively high funding fees from being charged during this unstable initial period, protecting traders from unfair costs until the market stabilizes.
What leverage can I use with the HUMA contract?
The available leverage for the HUMAUSDT perpetual contract ranges from a minimum of 0.01x up to a maximum of 20x. You can select your preferred leverage level within this range before opening a position. Remember, higher leverage increases risk.
Where can I learn more about the risks involved?
It is essential to educate yourself thoroughly before trading derivatives. The platform provides extensive educational resources and official documentation that detail all contract specifications, trading rules, and associated risks. 👉 View real-time trading tools and charts