Binance Quarterly Futures are delivery contracts that expire on the last Friday of each quarter (March, June, September, December). Unlike perpetual futures, quarterly contracts have no funding fees – making them ideal for long-term positions and hedging strategies.
📊 Product Guide
✓ Updated Dec 2025
⚡ TL;DR: Binance Quarterly Futures
✓ Main Advantage: Zero funding fees – perfect for holding positions weeks or months without paying daily funding costs that can add up in perpetual contracts.
🚀 Trade Binance Quarterly Futures (20% Fee Discount)
✓ No funding fees · ✓ Cash-settled · ✓ Up to 125x leverage
📑 Table of Contents
What are Binance Quarterly Futures?
Quarterly futures (also called “delivery contracts”) are traditional futures contracts with a fixed expiration date. Unlike perpetual contracts that never expire, quarterly futures settle on the last Friday of each calendar quarter.
Binance offers quarterly futures as COIN-M contracts (settled in BTC, ETH) and USDⓈ-M contracts (settled in USDT). When the contract expires, your position is automatically closed at the settlement price.
Fixed Expiration
Expires last Friday of March, June, September, December at 08:00 UTC.
No Funding Fees
Zero funding payments – hold for weeks/months without ongoing costs.
Cash-Settled
No physical delivery – PnL settled in BTC, ETH, or USDT at expiration.
📆 Quarterly Expiration Calendar
Q1
March
Last Friday
Q2
June
Last Friday
Q3
September
Last Friday
Q4
December
Last Friday
All settlements occur at 08:00 UTC on expiration day
Available Quarterly Contracts
Binance offers quarterly futures for major cryptocurrencies. Note that quarterly futures have fewer trading pairs than perpetuals – they focus on the most liquid assets.
💵
USDⓈ-M Quarterly
Settled in USDT
ETHUSDT
Leverage: Up to 125x (BTC), 100x (ETH)
₿
COIN-M Quarterly
Settled in the underlying coin
ETHUSD
BNBUSD
ADAUSD
LINKUSD
BCHUSD
XRPUSD
DOTUSD
LTCUSD
Contract multiplier: 100 USD (BTC) | 10 USD (ETH, others)
Expiration & Settlement Process
Understanding how quarterly futures settle is crucial. Here’s what happens at expiration:
🔄 Settlement Process
1
10 Minutes Before Expiry
Reduce Only mode – You can only close positions, no new positions allowed.
2
Settlement Price Calculation
Average of price index every second during last 30 minutes (07:30 – 08:00 UTC) = 1,800 data points.
3
Auto-Settlement at 08:00 UTC
All open positions closed at settlement price. PnL realized and credited to your account.
4
New Contract Listed
New quarterly contract (next quarter) automatically listed shortly after settlement.
💰 Settlement Fee
If you hold a position at expiration, you’ll pay a settlement fee = taker fee for your VIP level.
Pro Tip: Close your position manually before expiry to avoid the settlement fee and maintain control over your exit price.
No Funding Fees: The Main Advantage
The biggest advantage of quarterly futures over perpetuals is zero funding fees. This makes them ideal for longer-term positions.
📊 Funding Cost Example: $100,000 Position for 30 Days
Perpetual Futures
- Funding: 0.01% every 8h (typical)
- 90 funding events in 30 days
- Total cost: ~$900
*Can be higher during volatile markets
Quarterly Futures
- Funding: $0
- No funding events
- Total cost: $0
*Only pay trading fees + settlement fee at expiry
✓ When to Choose Quarterly Over Perpetual
- Long-term positions: Holding for weeks or months
- Hedging spot holdings: Protect BTC/ETH holdings without ongoing costs
- High funding periods: When perpetual funding spikes to 0.1%+ per 8h
- Predictable costs: Know your total fees upfront (just entry + exit)
Quarterly vs Perpetual Futures
How to Trade Quarterly Futures
1
Go to Futures Trading
Navigate to Derivatives → COIN-M Futures (for coin-settled) or USDⓈ-M Futures (for USDT-settled).
2
Select Quarterly Contract
Click on the contract name and select Quarterly instead of Perpetual. Choose current quarter or next quarter contract.
3
Set Leverage & Margin
Choose your leverage (up to 125x for BTC). Select Isolated or Cross margin mode.
4
Place Order & Manage
Open Long/Short position. Monitor expiration date. Close before expiry or let it auto-settle.
Pros & Cons
✅ Pros
- No funding fees – Save money on long holds
- Predictable costs – Only pay entry/exit fees
- Great for hedging – Protect spot holdings
- Traditional structure – Similar to CME futures
- Basis trading – Arbitrage opportunities
❌ Cons
- Limited pairs – Only major cryptos available
- Lower liquidity – Wider spreads than perpetuals
- Expiry management – Must track dates
- Rollover needed – Manual if continuing position
- Basis risk – Price can deviate from spot
Ready to Trade Binance Quarterly Futures?
No funding fees – perfect for long-term positions and hedging.
Frequently Asked Questions
What happens if I hold a position at expiration?
Your position is automatically closed at the settlement price (30-minute TWAP). You’ll pay a settlement fee equal to the taker fee for your VIP level. PnL is credited to your account in the settlement currency (BTC/ETH for COIN-M, USDT for USDⓈ-M).
Can I close my position before expiration?
Yes! You can close anytime before expiry. In fact, many traders close before expiration to avoid the settlement fee and maintain control over their exit price. Only the last 10 minutes before expiry is “Reduce Only” mode.
What is rollover and how do I do it?
Rollover is moving your position from an expiring contract to the next quarter’s contract. To rollover: close your current quarter position, then open a new position on the next quarter’s contract. This is done manually – Binance doesn’t auto-rollover.
Why is quarterly futures price different from spot?
Quarterly futures can trade at a premium (contango) or discount (backwardation) to spot price. This difference (called “basis”) naturally converges to zero as expiration approaches. Traders use this for “cash and carry” arbitrage strategies.
Should I use quarterly or perpetual futures?
Quarterly: Long-term positions, hedging, avoiding funding costs. Perpetual: Active trading, more pairs, higher liquidity. If you’re holding for weeks/months, quarterly saves money. For day trading, perpetuals are better.
What’s the settlement price calculation?
Settlement price = average of price index every second during the last 30 minutes before expiry (07:30 – 08:00 UTC). This equals 1,800 price points, making manipulation very difficult.
📌 Binance Quarterly Futures: Summary
Expiration
Quarterly
Funding
None ✓
Max Leverage
125x
Best For
Long-term
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⚠️ Risk Disclaimer
Futures trading involves substantial risk. You can lose more than your initial investment. Quarterly futures require active expiration management. Past performance is not indicative of future results. Only trade with money you can afford to lose.
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