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What is settlement in perpetual futures?

Binance

Cryptocoins Exchanges / Binance 214 Views

What is settlement in perpetual futures?

I'm trying to learn about futures and testing myself on the Binance futures testnet.

I set up a 10x isoalted margin Long order worth $987.82 and then another 125x worth $987.82.

Few mintues later I get "Settlement" no where near liquidation price and my long order is gone.

And I got a settlement fee of around $12.

Order History

Transaction History

Can someone help me understand what happened here? Thanks

submitted by /u/Yerzival
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