Binance will shift to an orderbook-weighted pricing model for commodity perpetual futures during off-hours, potentially changing margin and liquidation behavior.
Binance will change how it calculates benchmark prices for commodity-based perpetual futures during off-hours, a move that could affect margin and liquidation levels during weekends, holidays and maintenance periods, according to an exchange notice published Tuesday. The update will take effect on Friday at 9:00 pm UTC.
The exchange will replace its current fixed pricing method with an Orderbook EWMA model for commodity-based traditional finance (TradFi) perpetual contracts. EWMA, or exponential weighted moving average, uses orderbook data that is smoothed over time rather than relying on a fixed reference price during periods of lower activity.
Binance said the change will apply during daily maintenance windows as well as weekends and holidays, when trading activity is typically reduced.
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