Binance launches 24/7 FX perps with weekend pricing — SkimNews
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- Binance launches its first FX perpetual contract (USDBRLUSDT) on Sept. 21, settled in USDT with up to 100x leverage.
- The exchange's dual-mode system tracks a weighted index from third-party providers during regular FX hours but uses an exponentially weighted moving average of orderbook prices on weekends and public holidays.
- Binance trading head Shunyet Jan said the contracts extend price discovery beyond traditional FX hours and let traders hedge or take positions around the clock.
- Bybit introduced 24/7 FX 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 in April 2025 covering five currency pairs (EUR, GBP, AUD, JPY, CHF) with up to 50x leverage, and reported $5.7 billion in FX spot volume in the first part of 2025.
- Global OTC FX turnover averaged $9.6 trillion a day in April 2025, according to the Bank for International Settlements.
Why it matters: Binance's launch formalizes a race among crypto exchanges — Kraken, Bybit, and now Binance — to capture the $9.6 trillion-a-day FX market with continuous trading that traditional venues can't offer. The dual-mode pricing is the technical wrinkle: on weekends, contracts rely on internal orderbook pricing rather than external feeds, meaning weekend liquidity and spreads will depend entirely on how many Binance users show up.
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