Binance Futures has launched GIGADEVUSDT, a USDT-settled perpetual contract referencing GigaDevice Semiconductor’s Hong Kong-listed H shares. Trading began on August 3 at 05:30 UTC with maximum leverage of 20x, extending Binance’s derivatives range with another product tied to a traditional-market asset. The underlying shares trade on the Hong Kong Stock Exchange under code 3986.
The product gives traders synthetic long or short exposure to GigaDevice’s share price without purchasing or receiving the company’s stock. GIGADEV is a derivatives symbol, not a cryptocurrency issued by GigaDevice, and a contract position does not represent direct ownership of the referenced shares. GigaDevice completed its Hong Kong listing in January while retaining its Shanghai listing.
Contract Uses Eight-Hour Funding and 24/7 Trading
GIGADEVUSDT has a tick size of 0.01, a minimum trade quantity of 0.01 GIGADEV and a minimum notional order value of 5 USDT. The funding rate is capped at +2% or -2% and settles every eight hours, with Binance exempting the contract from the mechanism that can shorten funding intervals when rates reach their cap or floor.
The perpetual remains open 24 hours a day even though GigaDevice’s underlying Hong Kong shares trade during defined exchange sessions. That mismatch creates additional pricing considerations when the primary equity market is closed, because fresh share-price information may be unavailable during overnight periods, weekends and exchange holidays.
Binance handles those closed-market periods through its TradFi perpetual pricing framework. During regular sessions, its index uses third-party market data, while closed periods can rely on an order-book-based exponentially weighted moving average. The mechanism is designed to preserve continuous pricing, but it cannot eliminate liquidity gaps or reopening risk when the Hong Kong market resumes trading.
Multi-Assets Mode Adds Collateral Flexibility
The contract supports Binance Futures’ Multi-Assets Mode, allowing eligible traders to use supported assets such as BTC, ETH and BNB as collateral for USDⓈ-margined positions. Non-stablecoin collateral is subject to valuation haircuts, with Binance currently applying a 5% reduction to the recognized value of BTC, ETH and BNB in this mode.
Multi-Assets Mode operates through cross margin, meaning collateral and profit or loss can be shared across supported positions. That structure may improve capital efficiency, but losses in one leveraged contract can consume margin supporting other trades, increasing the possibility of broader liquidation when markets move sharply.
Binance may modify leverage, funding, tick size and margin requirements as market conditions change. The 20x ceiling substantially amplifies both gains and losses, while closed-market pricing and collateral haircuts add risks beyond those associated with directly holding the underlying Hong Kong shares.
The listing expands Binance’s packaging of traditional equity exposure inside a crypto-native derivatives account. Its longer-term relevance will depend on liquidity, tracking quality and sustained demand, rather than the availability of high leverage alone.