Binance Launches 24/7 FX Perpetuals With Dual-Mode Weekend Pricing

Binance has expanded its derivatives platform into foreign exchange with the launch of 24/7 perpetual futures contracts, beginning with a US dollar–Brazilian real pair set to go live on Sept. 21. The USDBRLUSDT contract will settle in USDT and offer up to 100x leverage, according to a Friday announcement. Unlike traditional FX markets that close on weekends, Binance's contracts will trade continuously using a dual-mode pricing system: during regular FX trading hours, prices will track a weighted index from third-party data providers, while weekends and public holidays will rely on an orderbook-based pricing mechanism using an exponentially weighted moving average.

Shunyet Jan, head of trading at Binance, said the contracts are designed to extend price discovery beyond traditional FX hours and give traders a venue to hedge or take positions around the clock. The weekend pricing system notably avoids reliance on external price feeds, instead drawing from on-platform orderbook activity—a structural choice that could mitigate manipulation risks tied to thin external liquidity.

The launch comes amid a broader push by crypto exchanges into FX derivatives. Bybit introduced 24/7 perpetuals tracking EUR/USD, GBP/USD and USD/JPY less than two weeks earlier, also settled in USDT with up to 100x leverage. Kraken launched FX perpetuals covering the euro, British pound, Australian dollar, Japanese yen and Swiss franc in April 2025 with up to 50x leverage, building on its spot FX business that reported $5.7 billion in volume in the first part of the year.

These products give crypto traders exposure to currency movements without holding the underlying assets, tapping into the world's largest financial market. Global OTC FX turnover averaged $9.6 trillion per day in April 2025, according to the Bank for International Settlements, underscoring the scale of the opportunity crypto exchanges are now chasing.