Binance launches 24/7 FX perps with weekend pricing system
Binance has launched 24/7 foreign exchange perpetual futures, starting with a US dollar–Brazilian real contract that began trading on Sept. 21. The exchange will run these contracts continuously using a dual pricing system that references external FX data during regular market hours and an orderbook-based mechanism on weekends and public holidays.
Why It Matters
The move extends continuous FX exposure to crypto market participants and joins several other exchanges offering round-the-clock FX perpetuals, signaling growing overlap between crypto derivatives platforms and traditional FX markets. These products let traders take positions in currency movements without holding the underlying fiat, tapping into a market with much larger daily turnover than crypto.
Key Facts
- Product launched: USDBRLUSDT perpetual futures
- Launch date: Sept. 21
- Settlement currency: USDT
- Maximum leverage: up to 100x
- Weekend pricing mechanism: exponentially weighted moving average of orderbook prices
Binance has expanded its derivatives lineup into foreign exchange by debuting 24/7 perpetual futures, starting with a contract tracking the U.S. dollar versus the Brazilian real. The exchange announced the USDBRLUSDT contract on a Friday and put it live on Sept. 21; the contract settles in USDT and supports leverage of up to 100x. Unlike conventional FX venues that close for weekends and some public holidays, Binance’s product will trade continuously.
To handle times when traditional FX markets are closed, Binance is employing a two-mode pricing model. During standard FX trading hours the platform will reference a weighted index compiled from third-party data providers, while on weekends and public holidays pricing will derive from the exchange’s own orderbook. Binance said the weekend prices will be calculated using an exponentially weighted moving average (EWMA) of orderbook prices rather than relying on external price feeds.
Binance trading head Shunyet Jan described the contracts as a way to extend price discovery beyond the hours of conventional FX markets and to provide traders with an around-the-clock venue for hedging or taking positions. The launch follows similar moves by other crypto platforms: Bybit introduced 24/7 perpetuals for EUR/USD, GBP/USD and USD/JPY less than two weeks earlier, and Kraken rolled out FX perpetuals for several major currencies in April 2025.
Exchanges say these instruments let crypto traders gain exposure to currency shifts without owning the underlying fiat, connecting crypto markets to the much larger global FX market. The Bank for International Settlements reported average daily global OTC FX turnover of $9.6 trillion in April 2025, and Kraken reported $5.7 billion in FX spot volume in the first part of 2025 after offering spot FX trading since 2020.
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Original source: Cointelegraph