Binance Tweaks Commodity Perpetual Futures Pricing Outside Trading Hours

Binance is set to overhaul how it determines benchmark prices for commodity-based perpetual futures during off-peak periods. This change could impact margin requirements and liquidation levels on weekends, holidays, and during maintenance windows.

According to a Tuesday exchange notice, the new system will go live on Friday at 9:00 pm UTC. Binance will replace its current fixed pricing mechanism with an Orderbook Exponentially Weighted Moving Average (EWMA) model for TradFi commodity perpetual contracts.

The EWMA model uses order book data and smooths price inputs over time, aiming to more accurately reflect market conditions during periods of thinner liquidity, rather than relying on static reference prices.

The update will apply across all scheduled low-activity periods, including daily maintenance windows and non-trading days.

Binance said the shift reflects improved liquidity and deeper order books in its TradFi perpetuals market. It added that these conditions make a more dynamic approach to price discovery increasingly appropriate.

The change will cover contracts tied to gold, silver, palladium, platinum, copper, Brent crude, crude oil, and natural gas. In addition, it will extend to any future commodity-based perpetual listings on Binance Futures.

Source: https://www.binance.com/en/support/announcement/detail/d29b59c26a914c71b95e864369a6bfb0