Binance Sets 0.5 Adjustment Factor for BITOUSDT Perpetual Contract

Binance plans to change the contract size of its BITOUSDT perpetual contract at 8 p.m. ET Nov. 18 (01:00 UTC Nov. 19), applying a 0.5 adjustment factor. The exchange estimates the change will be complete by 10:30 p.m. ET (03:30 UTC Nov. 19).

The adjustment is tied to a 1-for-2 reverse split of ProShares Bitcoin ETF (BITO). Under that ratio, every two pre-split shares become one post-split share.

After the adjustment, the contract will enter a cancel-only phase lasting up to five minutes.