Didy Jehasan

According to the announcement from Binance, Binance Futures is set to close all positions and conduct an automatic settlement on the USDⓈ-M PORT3USDT Perpetual Contract at 2025-11-23 06:30 (UTC). Following the settlement, the contract will be delisted. Users are advised to close any open positions before the delisting time to avoid automatic settlement. Starting from 2025-11-23 06:00 (UTC), users will not be allowed to open new positions for the specified contract.

During the final hour leading up to the scheduled settlement time, the Futures Insurance Fund will not be utilized to support the liquidation process for the futures contract. Any liquidation triggered during this period will be executed as a single Immediate or Cancel order (IOCO), which will be offloaded into the market in one attempt. If the assets remaining in the user's account are sufficient to meet the required Maintenance Margin after accounting for realized losses and any applicable Liquidation Clearance Fee, the liquidation will cease. However, if the IOCO fails to fully reduce the position to satisfy the Margin Maintenance requirements, any unfilled portion will be resolved through the Auto-Deleveraging (ADL) process.

Users are strongly advised to actively monitor and manage open positions during the final hour, as this period may experience heightened volatility and reduced liquidity. To protect users and mitigate potential risks in extremely volatile market conditions, Binance Futures may implement additional protective measures for the contract without further announcement. These measures could include adjusting the maximum leverage value, position value, and maintenance margin in each margin tier, updating funding rates, changing the constituents of the price index, and using the Last Price Protected mechanism to update the Mark Price.