Binance launches 24/7 FX perps with 100x leverage

• Binance has introduced a USD/BRL perpetual contract offering 24/7 trading and up to 100x leverage.
• The USDBRLUSDT contract is scheduled to begin trading on September 21 at 14:00 UTC.
• The product will use external FX prices during normal hours and Binance order-book data during market closures.

Binance has introduced a USDBRLUSDT perpetual contract that gives eligible users continuous exposure to USD/BRL price movements.

The contract is scheduled to begin trading on September 21 at 14:00 UTC, with settlement in USDT and leverage of up to 100x.

“FX is one of the world's most foundational markets, traded every moment to hedge and express macro views,” said Shunyet Jan, Head of Exchange and Trading at Binance.

The perpetual has no expiry, while Binance will use weighted third-party prices during regular FX hours to track USD/BRL.

During weekends and public holidays, Binance will switch to an exponentially weighted moving average of order-book prices as traditional FX liquidity falls.

The USDBRLUSDT contract will have a minimum notional value of 5 USDT, an eight-hour funding cycle and a maximum funding rate of plus or minus 0.375%.

The launch extends Binance's TradFi perpetual offering as exchanges expand crypto-based derivatives linked to currencies, equities and commodities.