Binance Futures to Launch SOMIUSDT Perpetual Contract with 5x Leverage

According to the announcement from Binance, the platform is set to introduce SOMIUSDT perpetual contract pre-market trading on Binance Futures starting 2025-08-25 at 09:30 (UTC). This new offering will allow users to trade with up to 5x leverage, expanding the range of trading options available. The underlying asset for this contract is Somnia (SOMI), a high-performance EVM-compatible L1 blockchain focused on mass consumer applications such as games and entertainment products. The total supply of SOMI is 1,000,000,000, and the settlement asset for the contract is USDT. The mark price during the pre-market trading period will be calculated as the average of the last 10 seconds of trade prices, updated every second. The capped funding rate during this period is set at +0.005%, transitioning to a maximum of +2.00% / -2.00% after pre-market trading ends. Funding fees will be settled every four hours, and trading will be available 24/7. Multi-Assets Mode is supported, allowing users to trade across multiple margin assets. Binance notes that certain product features are still under development, and current utility may be limited. The transition from pre-market to standard perpetual futures contracts will occur gradually, based on the availability of a stable index price from the spot market. During this transition, the mark price will converge from the pre-market calculation to the standard method, which uses the median of Price 1, Price 2, and Contract Price. Binance reserves the right to adjust interest rates and other specifications based on market conditions. The leverage and margin tiers vary, with maintenance margin rates ranging from 10.00% to 50.00% depending on the position's notional value in USDT. The perpetual contract is subject to Binance's Terms of Use and Futures Service Agreement.