Binance’s BABAUSDT Perpetual Futures Contract Was Quoted at $100.99 on Oct. 28

Binance’s BABAUSDT perpetual futures contract was quoted at $100.99 on Oct. 28. Binance’s BABAUSDT product is a separate perpetual futures contract that tracks the ADR, so the two prices are distinct market observations. The contract settles in Tether (USDT), trades around the clock and allows leverage of up to 10x. It is not a tokenized share and does not represent ownership of Alibaba shares. Open interest counts futures contracts that remain open. The figure alone does not reveal whether traders hold long or short positions or indicate market direction. An open-interest explainer covers what the metric can and cannot show.