Binance Enters 24/7 FX Derivatives Market With Novel Pricing System
The exchange launches perpetual futures for forex trading with continuous weekend sessions, joining Bybit and Kraken in tapping into the world's largest financial market.
Binance Expands into Round-the-Clock Forex Derivatives
The leading cryptocurrency exchange has begun offering perpetual futures contracts for currency pairs, breaking into the foreign exchange derivatives market. The initial product, scheduled to commence trading on September 21, will track movements between the US dollar and Brazilian real. These contracts will be denominated in USDT and provide traders with leverage of up to 100 times their position size.
Innovative Pricing for After-Hours Trading
Binance’s approach to continuous operation incorporates a dual-mechanism pricing structure. When traditional forex markets are open, contract prices will reference a weighted composite from external data providers. Once those markets close on weekends and during public holidays, the platform transitions to an internal system using exponentially weighted moving averages derived from orderbook activity. This technical solution allows the exchange to maintain liquidity and price discovery when external benchmarks are unavailable.
According to comments from Binance’s derivatives leadership, the offering aims to extend price detection mechanisms into hours when conventional FX trading halts, while furnishing traders with tools to hedge positions or establish new exposure without restrictions based on market calendars.
Competitive Landscape in Crypto FX Trading
Binance’s entry into this space follows closely behind similar moves by competitors. Just two weeks prior, Bybit unveiled comparable 24/7 derivatives contracts tracking major pairs including the euro and yen, also with 100x leverage and USDT settlement. Earlier entrants include Kraken, which began offering forex perpetuals in April 2025 with 50x maximum leverage across five currency pairs, building on its existing spot foreign exchange trading service launched in 2020. Kraken reported handling $5.7 billion in spot forex volume during the first half of 2025.
This rush to offer continuous forex access reflects the massive opportunity present in currency markets. According to research from the Bank for International Settlements, global over-the-counter forex turnover averaged $9.6 trillion daily in April 2025, dwarfing even equity and cryptocurrency trading volumes combined. For the broader crypto market, this development signals how digital asset platforms are expanding beyond their traditional role, vying for relevance in the world’s most liquid financial markets and potentially bolstering the sector’s mainstream acceptance.
Source: Binance, via Cointelegraph. Not financial advice.