Binance to Adjust BITOUSDT Contract After BITO Reverse Split

Binance plans to pause its USDⓈ-M BITOUSDT perpetual contract for an update tied to the ProShares Bitcoin ETF (BITO) 1-for-2 reverse split, closing existing positions and canceling orders during the change.

Trading is scheduled to stop at 8 p.m. ET Nov. 18 (01:00 UTC Nov. 19) as Binance adjusts the contract’s face value using a 0.5 factor. The exchange expects the adjustment to finish and trading to resume at 10:30 p.m. ET (03:30 UTC Nov. 19).

The reverse split combines every two pre-split BITO shares into one post-split share, with the share price adjusted proportionally. During the contract pause, Binance plans to close open positions and cancel all outstanding orders, including take-profit and stop-loss orders. Unrealized profits and losses will be settled to users’ cross-margin futures accounts.

Grid, dollar-cost averaging and Snowball bots tied to the contract are scheduled to stop at 7:45 p.m. ET Nov. 18 (00:45 UTC Nov. 19). Their positions will close automatically, and the bots will not restart after the adjustment.

After trading resumes, Binance expects a Post-Only period of up to five minutes, when users may submit, modify or cancel only Post-Only orders. The exchange also plans to use its latest traded-price protection mechanism until 9:30 a.m. ET Nov. 19 (14:30 UTC), then gradually return to standard mark-price calculations.