Binance, the leading cryptocurrency exchange, has made a significant move for XRP and Dogecoin (DOGE) users by introducing these tokens to its Smart Arbitrage platform. The exchange revealed that Binance Earn now offers XRP and DOGE as part of its smart arbitrage strategy. This service allows users to invest a minimum of 12.5 USDT to participate in the platform’s latest offerings. To celebrate this addition, Binance launched a special campaign with a reward pool of 45,000 USDT, running from November 8, 2024, to November 21, 2024.
Smart Arbitrage works by leveraging the funding rate mechanism, hedging futures positions with spot market positions to collect funding fees. This method minimizes price fluctuation risks by taking opposite positions in both the futures and spot markets. Profits from a long position counterbalance any losses from a short position, ensuring a balanced approach to risk.
Previously, the Smart Arbitrage feature was available only for Bitcoin (BTC), Ethereum (ETH), and Solana (SOL). The addition of XRP and DOGE to the platform comes at a time when interest in these tokens is high, particularly following Donald Trump’s election victory, sparking speculation about a potential price surge.
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Binance also announced that participants in the 45,000 USDT reward campaign would be eligible for a 10% bonus APR on their first 1 to 2,500 USDT subscriptions, provided they hold a Smart Arbitrage portfolio for more than 72 hours during the promotion period. The rewards will be distributed on a first-come, first-served basis, with a total pool of 30,000 USDT allocated to early participants.
