I had no idea this was going to be a topic with so many innovative approaches! I generally make my binding when I've finished a flimsy and keep them together with a backing (if I have one available) until I'm ready to put them all together. I wrap the finished binding loosely around my hand and flatten the result slightly (looks a bit like a hot dog, shape-wise). This will sit in my lap while I bind, and I just flip it over a few times to start and then occasionally as I sew so there isn't any tension on it.