Binance is expanding its TradFi derivatives offering with foreign exchange perpetual futures, starting with a contract tracking the U.S. dollar against Brazil’s real.
As per the official announcement, the first contract, USDBRLUSDT, is scheduled to begin trading on September 21 at 14:00 UTC. Unlike traditional FX markets, which generally close over the weekend, the Binance contract will be available around the clock.
The launch adds foreign exchange to Binance’s existing range of TradFi perpetual products covering areas such as commodities and equities.
Perpetual futures do not have expiry dates or require contract rollovers. The new FX contract will be priced and settled in USDT, allowing traders to use the same settlement asset across Binance’s TradFi perpetual products.
FX pricing model
The main challenge for 24/7 FX trading is what happens when underlying currency markets become less liquid.
Binance said its pricing system will therefore operate in two modes. During regular FX market hours, from Sunday at 17:00 ET through Friday at 17:00 ET, the price index will be updated every second using a weighted average of prices from third-party data providers.
During weekends and public holidays, the exchange will switch to an order-book-based exponentially weighted moving average, or EWMA. Binance said the approach is intended to maintain orderly pricing when traditional FX liquidity is thinner.
The exchange will also use multiple price sources, mark-price mechanisms, and deviation controls to limit potential pricing dislocations.
USD-BRL contract details
The USDBRLUSDT contract represents one U.S. dollar against the Brazilian real. It will have a minimum trade amount of 0.01 USDBRL and a minimum notional value of 5 USDT.
Binance has set a tick size of 0.0001 and a capped funding rate of plus or minus 0.375%. Funding fees will be settled every eight hours.
The contract will support leverage of up to 100x and Binance’s Multi-Assets Mode. It will be available through the exchange’s web platform, mobile app, and API.
Users will find the contract under the “TradFi” category on Binance Futures.
Weekend TradFi activity
Binance said its move into FX follows increased activity in its existing TradFi perpetual markets during periods when traditional financial markets are closed.
According to Binance Research, the exchange’s gold perpetuals had shown a relationship between weekend price movements and Monday futures-market gaps. Binance said weekend moves correctly indicated the direction of Monday’s opening gap about 89% of the time in its analysis through April.
The exchange also cited September trading data for equity perpetuals linked to artificial intelligence and semiconductor companies, saying those contracts accounted for a majority of combined weekend volume across five venues for selected markets.
Binance cited the figures as evidence of demand for trading outside traditional market hours.
The FX launch extends that model to one of the world’s largest financial markets while relying on a separate pricing mechanism to account for periods when conventional FX liquidity is unavailable.
USDBRLUSDT is set to launch on September 21 as Binance’s first FX perpetual. The exchange will use a dedicated pricing model when traditional FX markets are closed.
Also Read: Binance Changes Trading Hours for Commodity TradFi Perpetuals
