Binance Futures Will Apply Last Price Protected Mechanism to HUSDT Perpetual Contract

According to the announcement from Binance, Binance Futures will apply the Last Price Protected (LPP) Mechanism to the USDⓈ-Margined HUSDT Perpetual Contract at 2026-06-15 18:45 (UTC) after spot price divergence and deposit and withdrawal limits were observed across multiple exchanges following a security incident involving Humanity Protocol. Binance said user funds on its platform remain safe. The exchange said the LPP Mechanism will be introduced gradually using a mark price smoothing process intended to reduce sudden price movements and support price stability during the transition. Binance added that the LPP period will end when the spot price of H (Humanity Protocol) across multiple exchanges converges and a stable index price can be derived from spot markets, as determined by Binance. It said a separate announcement will be issued when the contract is ready to move from LPP to standard mark price calculation. Mark Price and Funding Changes: During the LPP period, mark price will be calculated as the average of the last 10 seconds’ trade prices, calculated every second. If there are fewer than 21 transaction prices in that 10-second interval, the system will check the past 100 seconds; if there are more than 21, it will average those prices, otherwise it will use the last 100 transaction prices. Binance said a ±1% price cap will limit mark price changes to within ±1% each second. Funding will shift from every one hour to every four hours starting from 2026-06-15 18:45 (UTC), and the capped funding rate will be adjusted from +2.00% / -2.00% to +0.005% / -0.005%, with the schedule beginning at 2026-06-15 18:00 (UTC) and reflecting the new cap from 2026-06-15 20:00 (UTC). After the LPP period ends, mark price will be calculated as Median (Price 1, Price 2, Contract Price), and funding will revert to standard rules with potential caps up to +2.00% / -2.00%.