Binance Levels Playing Field with RPI Orders to Shield Retail Traders from HFT

Binance Futures is set to introduce a new order type designed to enhance market liquidity and improve the trading experience for retail users. Starting November 20, 2025, the exchange will launch Retail Price Improvement (RPI) orders, a feature tailored to create a more balanced and fair trading environment. The initiative aligns with Binance's broader efforts to refine its platform and address the unique needs of individual traders in the rapidly evolving cryptocurrency market.

RPI orders operate as post-only limit orders, ensuring they add liquidity to the order book rather than immediately executing against existing market orders. This mechanism aims to deepen market depth and reduce slippage for retail participants. Additionally, RPI orders will only be matched with non-algorithmic market orders, shielding them from high-frequency trading strategies that often prioritize institutional or API-based participants. By isolating these orders, Binance seeks to level the playing field and foster trust among its retail user base.

A specialized fee structure will accompany the RPI feature, with incentives designed to encourage participation on designated trading pairs. The initial rollout will focus on specific asset pairs, with the potential for expansion based on user adoption and feedback. According to Binance's announcement, the feature is part of its commitment to innovation and user-centric improvements, reflecting its position as a leader in the global crypto derivatives market.

The launch comes amid broader industry developments, including competitive moves by exchanges to differentiate their offerings through enhanced liquidity tools and user protections. While Binance's RPI orders target retail traders, similar initiatives by rivals such as Cboe and SGX-recently introducing Bitcoin and Ethereum perpetual futures-highlight the sector's focus on institutional-grade services. However, Binance's approach uniquely prioritizes retail accessibility, a demographic that remains central to the exchange's growth strategy.