Binance’s OpenAI Contract Quote Is Not an Actual Share Price

Binance’s OPENAIUSDT perpetual contract uses an estimated share count for reference, but its quote is not an OpenAI share price and does not represent a valuation endorsed by Binance.

Binance lists OpenAI Group PBC as the underlying equity for the USDT-settled pre-IPO contract. The contract lists an estimated share count of 1 billion for informational purposes only. Binance announced trading would start May 26 at 8:30 a.m. ET (12:30 UTC).

OpenAI closed a funding round on March 31 with $122 billion in committed capital at an $852 billion post-money valuation. OpenAI was generating $2 billion in revenue per month at that time. That March figure does not establish OpenAI’s revenue in November.

Binance sets the contract’s funding rate at 0.005% per funding interval because no premium index is available. The rate is a contract setting, rather than evidence of traders’ market positioning.