Binance Lists Five U.S. Stock-Related Perpetual Contracts Covering TEM, MRK, IONQ, MARA, and PDD

Binance is expanding its derivatives lineup with a new batch of USDⓈ-margined TradFi perpetual contracts linked to five U.S.-listed equities: Tempus AI, Merck, IonQ, MARA Holdings, and PDD Holdings. The move reflects a broader 2025 market trend: crypto exchanges are increasingly becoming 24/7 venues for synthetic exposure to traditional financial assets.

According to Binance’s product schedule, the contracts will go live on August 28 in staggered five-minute intervals, beginning with TEMUSDT at 17:00 Beijing time, followed by MRKUSDT at 17:05, IONQUSDT at 17:10, MARAUSDT at 17:15, and PDDUSDT at 17:20. Each contract will be settled in USDT, support up to 20x leverage, operate around the clock, and use an 8-hour funding rate cycle.

Key Contract Details

All five instruments are expected to support 24/7 trading, a minimum notional value of 5 USDT, funding fee settlement every eight hours, and Binance’s multi-assets mode. Traders can refer to Binance’s educational overview of perpetual contracts for a general explanation of how funding rates and non-expiring futures work.

Why Binance Is Adding Stock-Linked Crypto Derivatives

The listing shows how crypto market infrastructure is moving beyond native digital assets such as Bitcoin and Ethereum. By offering perpetual contracts tied to publicly traded companies, exchanges can provide users with exposure to traditional market narratives while preserving crypto-native trading mechanics: USDT collateral, high-frequency liquidity, and continuous market access.

This format differs from buying shares on a regulated stock exchange. A stock-linked perpetual contract is a derivative product. It does not give the trader shareholder rights, dividend entitlement, or ownership of the underlying equity. Instead, it tracks price exposure through a futures-style structure that relies on margin, mark prices, liquidation rules, and funding payments.

For crypto-native traders, this creates a bridge between two markets:

• Traditional equities provide sector-specific exposure, such as AI, biotech, quantum computing, Bitcoin mining, or consumer internet.
• Crypto derivatives infrastructure offers 24/7 access, stablecoin settlement, and leverage.
• Funding rates introduce an additional cost or yield component that does not exist in spot equity ownership.
• Risk management becomes more complex because positions can remain open even when the underlying stock market is closed.

The Five Themes Behind the New Contracts

Tempus AI: AI Meets Healthcare Data

Tempus AI is part of the fast-growing artificial intelligence and healthcare technology sector. Its market narrative sits at the intersection of clinical data, machine learning, and precision medicine. For traders, TEMUSDT may become a way to express views on AI adoption beyond the semiconductor and cloud infrastructure names that have dominated recent cycles. More background is available from Tempus AI’s investor relations page.

Merck: Defensive Exposure Through Big Pharma

MRKUSDT brings a more traditional large-cap healthcare profile into the perpetual contract market. Merck is one of the world’s major pharmaceutical companies, and its equity is often associated with defensive sector exposure, drug pipelines, and healthcare policy developments. Investors tracking the company can review updates through Merck’s investor relations portal.

IonQ: Quantum Computing as a High-Beta Narrative

IONQUSDT adds exposure to one of the most speculative technology themes in public markets: quantum computing. IonQ has become a recognizable listed company in the quantum hardware and software conversation. While the sector has long-term potential, it can also be highly volatile, making leverage and liquidation risk particularly important for traders using perpetual contracts. Company information is available via IonQ’s investor relations site.

MARA Holdings: A TradFi Proxy for Bitcoin Mining

MARAUSDT may be the most crypto-native of the five listings. MARA Holdings is associated with Bitcoin mining, a sector whose equity performance often reacts to Bitcoin price cycles, mining difficulty, energy costs, hashprice trends, and broader risk appetite. This makes MARA-linked derivatives especially relevant for traders who already follow Bitcoin market structure. MARA publishes company updates through its investor relations page.

PDD Holdings: China Consumer Internet Exposure

PDDUSDT introduces exposure to PDD Holdings, the company behind major e-commerce platforms such as Pinduoduo and Temu. Its equity is closely watched by investors following China’s consumer economy, cross-border e-commerce, and global online retail competition. Official company disclosures are available through PDD Holdings’ investor relations website.

24/7 Trading Changes the Risk Profile

One of the most important differences between stock-linked perpetual contracts and ordinary equities is trading time. U.S. equities have exchange-defined trading hours, while crypto derivatives markets operate continuously. That creates both opportunity and risk.

A trader may open or adjust a TEMUSDT, MRKUSDT, IONQUSDT, MARAUSDT, or PDDUSDT position at any time, including weekends and holidays. However, the underlying equity reference may not be actively trading during those periods. This can lead to unusual price behavior, wider spreads, or abrupt repricing when traditional markets reopen.

In addition, perpetual futures use funding rates to keep contract prices aligned with reference prices. If a position is held across multiple funding windows, trading costs can accumulate. Binance’s standard derivatives framework also means users must monitor margin levels, liquidation thresholds, and collateral volatility. For a broader explanation of market structure and derivative risks, traders can review educational material from the U.S. Commodity Futures Trading Commission.

What Multi-Assets Mode Means for Traders

Support for multi-assets mode may allow eligible users to use supported collateral assets more flexibly when trading USDⓈ-margined contracts. In practice, this can improve capital efficiency for some strategies, but it can also introduce cross-asset risk. If collateral value changes sharply, multiple positions may be affected at the same time.

This is especially relevant when trading a mix of crypto assets and TradFi-linked perpetual contracts. A trader might hold Bitcoin-related exposure through MARAUSDT while also maintaining positions in AI, pharma, or e-commerce themes. These markets may respond to different catalysts, but margin is still managed inside one derivatives account environment.

The Bigger 2025 Trend: Tokenization, Synthetic Assets, and Market Convergence

The launch fits into a larger shift in digital asset markets. In 2025, tokenized real-world assets, on-chain treasuries, stablecoin settlement, and synthetic equity exposure have become key topics across crypto infrastructure. While stock-linked perpetual contracts are not the same as tokenized shares, they reflect the same demand: users want traditional asset exposure delivered through crypto-native rails.

This convergence is reshaping user expectations. Traders increasingly expect:

• Continuous access rather than market-hour restrictions
• Stablecoin settlement instead of bank-based cash movement
• Unified margin systems across different asset categories
• Faster product launches around market narratives
• A single interface for crypto, commodities, indices, and equity-linked derivatives

At the same time, the expansion of crypto derivatives tied to traditional markets raises questions around jurisdiction, suitability, disclosures, and risk controls. Users should carefully check whether such products are available in their region and understand the rules of the platform before trading.

Risk Management Comes First

Leverage of up to 20x means small price moves can have outsized effects on account equity. This is particularly important for high-volatility names such as AI, quantum computing, and Bitcoin mining-related equities. Before trading, users should consider:

• Whether the position size is appropriate for the account balance
• How funding fees may affect longer holding periods
• Whether stop-loss and take-profit levels are defined in advance
• How overnight or weekend price gaps could affect the contract
• Whether collateral is concentrated in volatile assets
• Whether the trade is based on a clear thesis or short-term momentum

Perpetual contracts can be useful tools for hedging or tactical exposure, but they are not a substitute for disciplined portfolio management.

A Note on Self-Custody

Trading derivatives on a centralized exchange requires keeping margin on the platform. However, long-term crypto holdings do not necessarily need to remain there. Many users separate their trading capital from their core holdings, keeping only the funds needed for active strategies on exchanges.

For users who hold Bitcoin, Ethereum, stablecoins, or other digital assets outside of trading accounts, a hardware wallet such as OneKey can help keep private keys offline, verify transactions on a trusted device screen, and manage multi-chain assets with a self-custody approach. This separation can be especially valuable in a market where fast-moving derivatives products and long-term crypto ownership serve very different purposes.

Conclusion

Binance’s addition of TEMUSDT, MRKUSDT, IONQUSDT, MARAUSDT, and PDDUSDT highlights the accelerating overlap between crypto derivatives and traditional financial markets. These contracts offer 24/7 USDT-settled access to themes ranging from AI healthcare and big pharma to quantum computing, Bitcoin mining, and global e-commerce.

For experienced traders, the new listings may create more flexible ways to express market views. For less experienced users, they are also a reminder that leverage, funding rates, and continuous trading require careful risk control. As crypto and TradFi continue to converge, understanding product structure is just as important as identifying the next market narrative.