Key facts
- Binance launched 24/7 foreign exchange perpetual futures contracts.
- The first contract is USDBRLUSDT, trading from September 21 with 100x maximum leverage.
- Contracts settle in USDT and use a dual-mode pricing system for continuous trading.
- Bybit and Kraken have also introduced FX perpetual futures contracts.
Binance has launched 24/7 foreign exchange perpetual futures, beginning with a US dollar-Brazilian real contract (USDBRLUSDT) that settles in USDT and offers up to 100x leverage. The contract went live on September 21.
The exchange developed a dual pricing system to support continuous trading. During standard FX market hours (Sunday 5 p.m. ET to Friday 5 p.m. ET), the index is updated every second based on a weighted average of prices from third-party sources. On weekends and public holidays, Binance enters Orderbook EWMA mode, determining a price based on order book prices when underlying liquidity decreases.
Binance's move into FX perpetuals follows similar offerings from competitors. Bybit recently launched 24/7 perpetuals for EUR/USD, GBP/USD, and USD/JPY, while Kraken offers FX perpetuals for several major currency pairs. These products allow crypto traders to speculate on currency movements or hedge positions without holding fiat currencies.