Adjustment Background and Schedule
According to BlockBeats on June 29, Binance announced that due to the 1:4 stock split of CRWD (CrowdStrike) Class A shares, which will be distributed as a dividend, the underlying asset of the CRWDUSDT perpetual contract will be adjusted accordingly. Binance Futures plans to modify the contract size of this USDT-margined perpetual contract on July 2, 2026, at 08:00 (UTC+8), with the adjustment expected to be completed by 21:30 (UTC+8) the same day. After the adjustment, the contract will enter a Cancel-Only phase lasting up to 5 minutes to ensure a smooth market transition.
Implications for Traders
Following the contract size adjustment, the number of CRWD units represented per contract will change, but the notional value (denominated in USDT) will remain consistent with the pre-adjustment level to avoid value dilution due to the stock split. Traders do not need to take manual action, but they should be aware of potential temporary liquidity decreases and price deviations during the adjustment period. During the 5-minute Cancel-Only phase, all new opening orders will be rejected, and only cancellations are allowed. It is recommended that position holders review their margin adequacy before the adjustment to prevent leverage ratio fluctuations caused by the change in contract size.