Contract Details
The SPCXUSD1 perpetual contract is set to go live at 09:00 UTC on Sunday, according to an official Binance announcement. The USDⓈ-M contract will offer up to 25x leverage, with trading available around the clock. The contract has a tick size of 0.01, a minimum trade amount of 0.01 SPCX, and a minimum notional value of 5 USD1. Funding rate settlements will occur every eight hours, capped at +1.00% / -1.00%. Bbinance
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The product settles in USD1, a dollar-pegged stablecoin backed by short-term U.S. Treasury instruments and cash deposits, issued by World Liberty Financial and custodied by BitGo Trust Company. USD1 currently has a market capitalization of roughly $4.2 billion. Bbinance
SpaceX Stock Under Pressure
The new contract arrives as SpaceX (Nasdaq: SPCX) trades well below its post-IPO highs. The company debuted on the Nasdaq in June 2026, opening at $150 per share after pricing its IPO at $135. Shares briefly surged to an intraday high of $225.64 before selling off sharply. By early July, the stock hit an all-time low of $145.20, dipping below its opening-day price. Ssmartasset
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Binance had previously launched a SPCXUSDT pre-IPO perpetual contract ahead of SpaceX’s listing, which quickly became the exchange’s second-most-traded product behind Bitcoin perpetuals, surpassing $9 billion in trading volume within days of SpaceX’s public debut. Ttradingview
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Stablecoin Settlement Marks Expansion
The shift to USD1 settlement represents a broadening of Binance’s stablecoin strategy. The contract does not represent ownership of the underlying shares but allows traders to speculate on SpaceX’s share price movements. Binance noted that contract specifications may be adjusted based on market risk conditions, and that users in the European Economic Area may face restrictions when trading with certain stablecoins due to MiCA regulations. Bbbx
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