Binance rolls out 24/7 foreign exchange perps, starting with dollar-real pair
The exchange will settle a USDBRLUSDT perpetual futures contract in USDT with up to 100x leverage, following similar moves by Bybit and Kraken.
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Binance is moving into foreign exchange derivatives, with perpetual futures contracts that trade around the clock — a structure that sidesteps the weekend closures of traditional currency markets. The first contract, tracking the US dollar against the Brazilian real, goes live on Sept. 21, according to the exchange's Friday announcement.
The USDBRLUSDT product settles in USDT and allows leverage of up to 100x. Keeping the market open outside normal FX hours required Binance to build a two-part pricing model. While traditional currency desks are active, the contract follows a weighted index assembled from third-party data providers. On weekends and public holidays, when those feeds go dark, pricing shifts to an orderbook mechanism: an exponentially weighted moving average of prices drawn from Binance's own order book, rather than any external feed.
Shunyet Jan, the exchange's trading head, said the goal is to stretch price discovery past the bounds of conventional FX trading hours and to give traders somewhere to hedge or take directional positions at any hour.
A crowded field
Binance is not the first exchange down this path, and it is not even the most recent. Bybit launched 24/7 perpetuals on EUR/USD, GBP/USD and USD/JPY less than two weeks ago — likewise USDT-settled, likewise offering up to 100x leverage. Kraken got there earlier still: in April 2025 it rolled out FX perpetuals covering the euro, British pound, Australian dollar, Japanese yen and Swiss franc, with leverage capped at 50x. Kraken has offered spot FX trading since 2020 and recorded $5.7 billion in FX spot volume in the early part of 2025, per Cointelegraph.
The appeal for traders is exposure to currency movements without having to hold any of the underlying currencies. Perpetual futures are derivative contracts with no expiry date, letting positions run indefinitely. They tap into the largest market in finance: over-the-counter FX turnover averaged $9.6 trillion a day in April 2025, per the Bank for International Settlements.
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