Binance is set to launch a USDT-settled perpetual contract for the U.S. dollar against the Brazilian real on Sept. 21, according to Odaily, citing Cointelegraph. The product will offer up to 100x leverage and trade around the clock. During regular foreign exchange market hours, the contract will track a weighted index from a third-party data provider. On weekends and public holidays, Binance will switch to an index-weighted moving average pricing mechanism based on order book prices, rather than relying on external price feeds. The report also noted that Bybit had previously listed 24/7 perpetual contracts for the euro, British pound, and Japanese yen against the U.S. dollar. The new listing adds another fiat-linked perpetual product to the crypto derivatives market, with Binance structuring the contract around continuous trading and different pricing methods depending on whether traditional FX markets are open.
Binance will list a USDT-settled perpetual contract for the U.S. dollar against the Brazilian real on Sept. 21, offering up to 100x leverage, according to Odaily, which cited Cointelegraph.
The contract will trade 24/7. During regular foreign exchange market hours, it will track a weighted index from a third-party data provider. On weekends and public holidays, Binance will use an index-weighted moving average pricing mechanism based on order book prices, without relying on external price sources.
The report added that Bybit had previously launched 24/7 perpetual contracts for the euro, British pound, and Japanese yen against the U.S. dollar.
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