Binance Futures announced that it will close all positions and perform automatic settlement for USDⓈ-M XCNUSDT, FLMUSDT, and PERPUSDT perpetual contracts on November 21, 2025, at 16:00 UTC. Once the settlement process is complete, these contracts will be officially removed from the platform.
Users are advised to proactively close all open positions before the delisting date to avoid automatic liquidation. Starting from 21/11/2025 at 15:30 Vietnam time (08:30 UTC), users will not be able to open any new positions for the above contracts.
Notably, the Futures Insurance Fund will not be used to facilitate the liquidation of these contracts during the last hour before the contract settlement time. Any liquidation orders that arise during this period will be executed as an “Immediate or Cancel” (IOCO) order, meaning that the entire volume will be released to the market in a single transaction. If, after the IOCO, the remaining assets in the user account are sufficient to meet the maintenance margin requirements (after deducting realized losses and liquidation fees, if any), the liquidation process will stop. Otherwise, the remaining positions will be resolved through the Auto-Deleveraging (ADL) mechanism.
