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Binance Futures has launched a new promotion to celebrate the introduction of its Funding Rate Arbitrage Bot. According to Binance, the promotion is available to both new and experienced futures traders, offering an additional 20% on funding profits during the promotion period.

The promotion period runs from June 27, 2024, 11:30 UTC to July 11, 2024, 11:30 UTC. Eligible users who register for the promotion and create a Funding Rate Arbitrage Bot that operates for at least 72 hours during this period will receive an additional 20% on their funding profits, capped at 50 USDT per user.

The total rewards pool is 50,000 USDT, distributed on a first-come, first-served basis. A snapshot of funding profits will be taken three days after the promotion ends, on July 14, 2024, to determine the reward amount for each eligible user.

To participate, users must follow these steps:

The Funding Rate Arbitrage Bot allows traders to earn funding fees by opening a position on perpetual futures and hedging it by taking an opposite position on the same symbol in the spot market. Funding fees are periodic payments exchanged between long and short positions in perpetual futures contracts.

More details on how the bot works can be found here.

Participants must adhere to several terms and conditions, including:

Additional terms and conditions apply and can be accessed here.

Binance said it reserves the right to amend or cancel the promotion at any time and for any reason without prior notice.

Read more from the original source:

Binance Futures Introduces Arbitrage Bot with 20% Funding Profit Bonus - Blockchain.News