Exchange tokens Perpetual Futures
Perpetual futures on exchange tokens, currently BNB, the native coin of BNB Chain. The contract follows BNB's price and settles in USDT.
| Market | Price | Trade | ||||
|---|---|---|---|---|---|---|
| 1 |  BNBBNB-PERP | 713.42+1.47% | +1.47% | 434K | 100x | Trade |
Exchange tokens are coins launched by, or closely tied to, a crypto exchange. BNB was created by Binance in 2017 and now powers BNB Chain, where it pays transaction fees; it is also used for trading-fee discounts and other benefits on Binance. That link means BNB's price is shaped both by activity on BNB Chain and by the fortunes of the exchange behind it.
Exchange tokens tend to respond to trading activity on their exchange, regulatory news affecting it, changes to token burns or holder benefits and the wider crypto market. Trading BNB as a USDT-settled perpetual here gives price exposure only.
A perpetual future is a contract that tracks the price of an asset and never expires. You can go long, profiting if the price rises, or short, profiting if it falls, without owning the asset itself.
You post margin and choose your leverage. Leverage multiplies both gains and losses: at 10x, a 1% move in the price is a 10% change in your margin. If losses use up the margin, the position is liquidated.
Frequently asked questions
An exchange token is a cryptocurrency issued by, or closely associated with, a crypto exchange. Holders typically get benefits on that exchange, such as lower trading fees, and some tokens also run their own blockchain.
BNB pays transaction fees on BNB Chain and is used by applications built there. On Binance, it can be used for trading-fee discounts and other holder benefits.
No. A BNB perpetual is a contract on BNB's price, settled in USDT, and you do not hold any BNB. Benefits that come from holding the token do not apply to the position.
Activity and news at the exchange behind it matter most, including trading activity, regulatory developments and changes to how the token is used or burned. Like other crypto assets, it also tends to move with the wider market.
No. There is no KYC and no sign-up form. You connect a wallet and sign a message to log in — self-custody wallet sign-in, with no password — then deposit USDT to start trading.
A perpetual future is a contract that tracks the price of an asset and never expires. You can go long, profiting if the price rises, or short, profiting if it falls, without owning the asset itself.
There are 75 perpetual futures markets, across crypto, gold and oil, all settled in USDT with cross margin.
No. A perpetual has no expiry date, so you can hold a position for as long as your margin covers it.
Maker orders pay 0.02% and taker orders 0.06% of the order value, on every market.
Yes. Every market is open 24/7, including gold and oil.