Binance launches FX perpetuals with 24/7 weekend pricing

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Binance launches FX perpetuals

Highlights

Binance launches its first 24/7 FX perpetual futures contract on Monday with USDBRLUSDT, offering up to 100x leverage and weekend pricing via orderbook-based mechanisms.
Binance's move follows Bybit’s recent introduction of 24/7 perpetuals for EUR/USD, GBP/USD, and USD/JPY with 100x leverage, amid increasing competition among major crypto exchanges.
Kraken expands into FX perpetuals in April 2025 with up to 50x leverage, after reporting $5.7 billion FX spot volume, targeting the $9.6 trillion daily global OTC FX market.

Contract rollout and pricing model

As reported by Cointelegraph, Binance says it is launching its first 24/7 foreign exchange perpetual futures contract on Monday, starting with USDBRLUSDT, a U.S. dollar-Brazilian real product settled in USDT and offering up to 100x leverage.

During regular FX market hours, the contract tracks a weighted index based on third-party data providers. On weekends and public holidays, Binance uses an orderbook-based pricing mechanism built on an exponentially weighted moving average of orderbook prices instead of external price feeds.

Binance trading head Shunyet Jan says the contracts are designed to extend price discovery beyond traditional FX trading hours and give traders a venue to hedge or take positions at any time.

Competition grows in crypto FX trading

The move comes less than two weeks after Bybit introduces 24/7 perpetuals linked to EUR/USD, GBP/USD and USD/JPY, also settled in USDT and offering up to 100x leverage.

Other exchanges are already active in the segment. Kraken launches FX perpetuals tied to the euro, British pound, Australian dollar, Japanese yen and Swiss franc in April 2025 with up to 50x leverage, after offering spot FX trading since 2020 and reporting $5.7 billion in FX spot volume in the first part of 2025.

The products give crypto traders exposure to currency moves without holding the underlying currencies, targeting a market of far larger scale than digital assets. Global OTC FX turnover averages $9.6 trillion a day in April 2025, according to a report from the Bank for International Settlements.

Our earlier report on U.S. and UK companies cutting FX hedges highlighted how corporate treasury teams pulled back on protection against currency swings in Q2, pushing average hedge ratios and hedge durations to the lowest levels since early 2024. The survey data showed firms shifting toward more tactical, shorter-dated hedging amid uncertainty over rates and inflation, leaving less buffer if volatility returns.

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