Binance launches 24/7 FX perpetual for USDBRL

Binance launched a 24/7 US dollar–Brazilian real perpetual futures contract, ticker USDBRLUSDT, which goes live on Sept. 21. The contract settles in USDT, offers up to 100x leverage and will trade continuously, including weekends and public holidays.

The contract uses a dual-mode pricing system. During regular FX market hours prices will track a weighted index compiled from third-party data providers. On weekends and public holidays pricing will come from an orderbook-based mechanism. For non-standard hours Binance will calculate prices using an exponentially weighted moving average of orderbook quotes rather than relying on external price feeds.

The perpetual will be margined and settled in USDT and will allow up to 100x leverage. Trading will run around the clock, including days when traditional FX venues are closed.

Binance trading head Shunyet Jan described the contracts as intended “to extend price discovery beyond traditional FX trading hours, while giving traders a venue to hedge or take positions around the clock.”

The new USDBRLUSDT contract follows similar products from other crypto exchanges. Less than two weeks earlier, Bybit introduced 24/7 perpetuals tracking EUR/USD, GBP/USD and USD/JPY, settled in USDT and offering up to 100x leverage. Kraken launched FX perpetuals in April 2025 covering the euro, British pound, Australian dollar, Japanese yen and Swiss franc with up to 50x leverage; Kraken has offered spot FX trading since 2020 and reported $5.7 billion in FX spot volume in the first part of 2025.

The contracts allow traders to gain exposure to currency movements without holding the underlying currencies. Global over-the-counter FX turnover averaged $9.6 trillion a day in April 2025, according to the Bank for International Settlements.

Binance did not disclose specific liquidity providers or initial funding rates for the USDBRLUSDT perpetual. The exchange warned that high leverage increases both potential gains and potential losses.