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- Binance adds perpetual contract for OPENAIUSDT Pre-IPO after its first pre-IPO futures product generated more than $280 million in trading volume within five days.
- The new contract gives eligible users exposure to market expectations around OpenAI ahead of any potential public listing.
Binance is moving deeper into private market themed derivatives. The exchange announced the listing of OPENAIUSDT Pre-IPO Perpetual on Binance Futures, its second product in the new pre-IPO perpetual category.
Trading is scheduled to begin on May 26, 2026, at 08:30 UTC. The contract is based on expected public market valuation signals for OpenAI Group PBC, one of the world’s most closely watched private technology companies.
The OpenAI contract follows a strong SpaceX-related debut
The launch comes shortly after Binance made its debut Pre-IPO is always associated with SpaceX. According to Binance, this first contract recorded over $280 million in cumulative trading volume over the first five days.
This is the number that Binance wants the market to notice. It has traditionally been difficult for ordinary traders to access pre-IPO exposure, with most price discovery taking place among venture investors, private market brokers and institutional buyers. Binance is trying to turn this demand into a native crypto product: liquid, margined, available around the clock and tied to the public market narrative before the actual listing occurs.
Shoneet Jan, head of spot and derivatives business at Binance, framed the early demand as a signal that users want broader market exposure through crypto routes.
“The momentum we have seen in the first days of launching this category is a strong signal that users are looking for new ways to access key market narratives through native cryptocurrency products,” said Shunit Jan. “Reaching over $280 million in cumulative trading volume within five days of our first listing gives us confidence in both the attractiveness of a pre-IPO standing offering and our broader strategy to evolve Binance into a financial super app.”
How is the OPENAIUSDT contract structured?
Pre-IPO standing offers are designed to reflect pricing signals available to the public prior to a company’s listing, including announced price ranges and final offering prices. Once the underlying company begins trading publicly, the contract can move toward direct market performance.
If the IPO is postponed or cancelled, Binance says it will provide advance notice of any delisting and settle contracts through a transparent process. The exchange may also move the product to a standard TradFi Permanent Framework Once he is able to extract a fixed price for the underlying asset.
The OPENAIUSDT contract will be margined and settled USDT. Binance offers up to 20x leverage, with the ability to trade and settle funds 24/7 every eight hours.
| Contract details | OPENAIUSDT Pre-IPO Permanent |
|---|---|
| Settlement assets | USDT |
| Tick size | 0.01 |
| Minimum trade amount | 0.01 opinay |
| Minimum face value | 5 US dollars |
| Specified financing rate | During the trading period prior to the IPO: +0.005% per financing period. After the end of pre-IPO trading: +2.00% / -2.00%. |
| Interest rate financing rate | During the pre-IPO trading period: 0.015% per day, or 0.005% per financing period. After the end of pre-IPO trading: 0%. |
| Repeated settlement of finance charges | Every eight hours |
| Maximum financial leverage | 20x |
| Trading hours | 24/7 |
| Multi-asset mode | Supported |
For Binance, the listing fits into a larger push beyond standard cryptocurrency and derivatives markets. For traders, it creates exposure to one of the biggest AI narratives before any public stock listing. The risk is also clear enough: these contracts are not stocks, and their pricing depends on expectations, liquidity, and market structure before there is a real reference to the general market.
