TREE NEWS update: Binance Futures will list a OURAUSDT USDT-margined Pre-IPO perpetual contract at 16:30 on Binance RIE, tracking shares of Oura Inc., which plans to list on Nasdaq. The contract covers an estimated total share count of about 321 million shares, supports up to 20x leverage, settles in USDT with a minimum order of 0.01 OURA, and carries a fixed funding rate of 0.005% every eight hours during Pre-IPO trading. If the IPO fails the contract will be removed; if it succeeds, it will transition to a standard TradFi perpetual.
Binance to List Oura Inc. Pre-IPO Perpetual Futures at 16:30
Pre-IPO perpetuals let traders express a view on a private company's valuation before any public listing, a structure that blurs the line between crypto derivatives and traditional equity exposure. The fixed funding rate removes the usual funding-rate signal, so the contract's basis will carry the sentiment instead. Whether demand builds ahead of the Nasdaq listing, and how the contract behaves if the IPO is delayed or fails, is the open question.
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