Perps
About Perps
Perps, short for perpetual futures, let you go long or short on an asset with leverage and no expiration date. Unlike traditional futures, perps never settle on a calendar date. A funding rate periodically transfers payments between longs and shorts to keep each contract anchored to its underlying reference price, and positions stay open as long as your margin holds.
On Polymarket you can trade perps across individual stocks like Tesla and Nvidia, crypto assets like Bitcoin and Ethereum, major indices including the USA500 and Nasdaq 100, and commodities such as Gold, Silver, and WTI Oil. Each card shows the live mark price and 24-hour change - click Long to bet the price rises or Short to bet it falls, directly from the grid above.
FAQs
Perps - short for perpetual futures - are derivative contracts that let you go long or short on an asset's price with leverage and no expiration date. A funding rate periodically transfers payments between longs and shorts to keep the perp price anchored to the underlying reference price.
Polymarket currently lists 89 live perps markets: ENA, BTC, NCLD, ZEC, ETH, WTIOIL, PUMP, KPEPE, PONS, KAITO, SUI, HYPE, NEAR, SOL, XPL, WLD, LIT, ARB, AVAX, AAVE, XRP, VVV, LDO, USELESS, JUP, ZM, MORPHO, XMR, CASHCAT, MSTR, HOOD, ADA, TAO, ONDO, ZRO, FARTCOIN, VIRTUAL, COIN, CRCL, USA500, LTC, DOGE, NAS100, SNDK, UNI, LINK, BNB, KIOXIA, GOLD, BRENTOIL, QCOM, NBIS, SOXL, ETHFI, AAPL, MSFT, LITE, INTC, ORCL, NVDA, META, SPCX, UNITREE, AMD, KSHIB, BABA, SKHYNIX, DRAM, TSLA, AVGO, STRC, CRWV, GOOG, CXMT, SKHY, ASML, SILVER, MRVL, CBRS, AMZN, PENDLE, MU, PLTR, TSM, SAMSUNG, RKLB, DELL, ARM, and EWY. You can go long or short on each one directly from the grid above.
Find the ENA perp card in the grid. Click Long to bet Ethena will rise, or Short to bet it will fall. The card shows the live mark price and 24-hour change.
There is no difference. "Perps" is the everyday trader shorthand for "perpetual futures." Both terms refer to the same derivative contract: a futures contract with no expiry, anchored to its reference price through a funding rate.
No. Perpetual futures have no expiration date. A position stays open until you close it or your margin is liquidated.