Binance is expanding its derivatives suite into foreign exchange, launching 24/7 perpetual futures that trade continuously through weekends and public holidays using a dual-mode pricing system.
The USD/BRL perpetual contract goes live on Sept. 21, settling in USDT and offering up to 100x leverage, the exchange said in a Friday announcement. During standard FX trading hours, prices will track a weighted index from third-party data providers. On weekends and public holidays, Binance will switch to an orderbook-based mechanism that calculates price from an exponentially weighted moving average of orderbook prices rather than relying on external feeds.
The product extends price discovery beyond the hours when traditional FX markets close, Binance trading head Shunyet Jan said, giving traders a venue to hedge or take positions around the clock.
The move places Binance in an increasingly crowded field. Less than two weeks earlier, Bybit introduced 24/7 FX perpetuals tracking EUR/USD, GBP/USD and USD/JPY, also settled in USDT with up to 100x leverage. Kraken entered the space first, launching FX perpetuals in April 2025 tracking the euro, British pound, Australian dollar, Japanese yen and Swiss franc with up to 50x leverage; the exchange had offered spot FX trading since 2020 and reported $5.7 billion in FX spot volume in the first half of 2025.
Crypto exchanges are tapping a market that dwarfs other asset classes in trading volume. Global OTC FX turnover averaged $9.6 trillion a day in April 2025, according to a report from the Bank for International Settlements. The perpetual contracts give crypto traders exposure to currency movements without owning the underlying currencies.
