diff --git a/freqtrade/util/binance_mig.py b/freqtrade/util/binance_mig.py
new file mode 100644
index 000000000..8fa47d16a
--- /dev/null
+++ b/freqtrade/util/binance_mig.py
@@ -0,0 +1,44 @@
+import logging
+
+from freqtrade.constants import Config
+from freqtrade.enums.tradingmode import TradingMode
+from freqtrade.persistence.pairlock import PairLock
+from freqtrade.persistence.trade_model import Trade
+
+
+logger = logging.getLogger(__name__)
+
+
+def migrate_binance_futures_names(config: Config):
+
+    if (
+        not (config['trading_mode'] == TradingMode.FUTURES
+             and config['exchange']['name'] == 'binance')
+    ):
+        # only act on new futures
+        return
+    _migrate_binance_futures_db(config)
+
+
+def _migrate_binance_futures_db(config: Config):
+    logger.warning('Migrating binance futures pairs')
+    trades = Trade.get_trades([Trade.exchange == 'binance', Trade.trading_mode == 'FUTURES']).all()
+    for trade in trades:
+        if ':' in trade.pair:
+            # already migrated
+            continue
+        new_pair = f"{trade.pair}:{trade.stake_currency}"
+        trade.pair = new_pair
+
+        for order in trade.orders:
+            order.ft_pair = new_pair
+            # Should symbol be migrated too?
+            # order.symbol = new_pair
+    Trade.commit()
+    pls = PairLock.query.filter(PairLock.pair.notlike('%:%'))
+    for pl in pls:
+        pl.pair = f"{pl.pair}:{config['stake_currency']}"
+    # print(pls)
+    # pls.update({'pair': concat(PairLock.pair,':USDT')})
+    Trade.commit()
+    logger.warning('Done migrating binance futures pairs')