Overview
- Binance announced that its first FX perpetual, USDBRLUSDT, will start trading on September 21, 2026 at 14:00 UTC and will run on the exchange's TradFi Perpetuals platform.
- The contract settles in USDT, allows up to 100x leverage, uses a multi-asset margin mode, and charges funding every eight hours with a capped rate of +0.375%/−0.375%.
- To keep trading continuous, Binance will use a second‑by‑second third‑party price index during regular FX hours and switch to an orderbook EWMA (exponentially weighted moving average) on weekends and public holidays when interbank quotes thin.
- The launch intensifies competition with Bybit and Kraken, and Binance says trading and clearing will be handled through ADGM‑regulated Nest Exchange and Nest Clearing subject to jurisdictional limits.
- Traders face high liquidation risk because 100x leverage means a 1% adverse move can close a position, and regulators are watching classification, clearing, and potential price divergence or manipulation in weekend orderbook pricing.