<h4>Quick Take</h4> <ul> <li>Binance is said to be building out its much-rumored derivatives platform featuring perpetual swaps</li> <li>This move may pit the popular spot exchange against derivatives giant BitMEX, which invented perpetual swaps and has been raking in millions from them</li> <li>Binance may define its edge in the market by building a matching engine that works better than BitMEX&#8217;s, which is plagued by the system overload problem </li> </ul>