Trade Perps

Perpetual futures, AKA perps or perpetual swaps, are a type of derivative. In other words, perps are a way of trading futures that let you speculate on the future price of an asset without owning it. Go long if you think an asset’s price will rise, or short if you think it will fall. If your bet is correct, you profit; if not, you take a loss.

Unlike traditional futures, perpetual contracts do not expire, so you can hold your position for as long as you wish. Because perps use leverage, both gains and losses can be amplified. Using leverage increases the risk of liquidation, which happens when your collateral is lost due to adverse price movement.

To go long on a cryptocurrency or selected stock with MetaMask perpetual futures:

1. Open your position.

2. Choose long.

3. Tap confirm.

When you go long on a token or stock’s price with MetaMask perps, you can profit from a rise in the asset’s value. In other words, if the price of the asset goes up, you can close your position at the higher level and keep that difference as profit. Because perpetual contracts don’t expire, you’re free to hold your trade for as long as you like, and exit when you choose.

To go short on a cryptocurrency or selected stock with MetaMask perpetual futures:

1. Open your position.

2. Choose short.

3. Tap confirm.

If you go short on a token or stock’s price via MetaMask perpetual futures, you can profit from a decline in the cryptocurrency’s value. In other words, if the price of the assetgoes down, you can close your position at a lower level, and keep that difference as profit. Unlike conventional futures, perpetual contracts don’t expire. You can keep your trade open for as long as you like, and exit when you choose.

MetaMask currently supports perpetuals trading for select US equities, including: Nvidia (NVDA), Tesla (TSLA), Apple (AAPL), Microsoft (MSFT), Palantir Technologies (PLTR), Robinhood Markets (HOOD), Circle Internet Financial (CRCL), Meta Platforms (META), Amazon (AMZN), Alphabet (GOOGL), SharpLink Gaming (SBET), Advanced Micro Devices (AMD), Coinbase Global (COIN), and Netflix (NFLX).

Perpetual trading is now supported on MetaMask Mobile and MetaMask Extension. Download MetaMask or update to the latest version to start trading perpetual futures today.

MetaMask Perps trading via Hyperliquid is available globally except in the following territories: USA, UK, Ontario (Canada), Belgium and countries on the USA sanctions list.

You can fund your perps trades in two ways: by using tokens directly from your wallet, or by depositing funds into a perps account.

If you want to deposit funds into a distinct perps account:

1. Open MetaMask

2. Tap Perpetuals

3. Navigate to any market

4. Tap Add funds

5. Deposit any EVM token on any blockchain network into your account. The minimum funding value is $10. This token will immediately be swapped into USDC on Hyperliquid.

6. Done. The transaction may take a few minutes to process.

Note: MetaMask does not charge any fees on funding transactions, other fees may apply.

You can fund your perps trades in two ways: by using tokens directly from your wallet, or by depositing funds into a perps account.

If you want to deposit funds into a distinct perps account:

1. Open MetaMask

2. Tap Perpetuals

3. Navigate to any market

4. Tap Add funds

5. Deposit any EVM token on any blockchain network into your account. The minimum funding value is $10. This token will immediately be swapped into USDC on Hyperliquid.

6. Done. The transaction may take a few minutes to process.

Note: MetaMask does not charge any fees on funding transactions, other fees may apply.

You can fund a MetaMask perps account with any EVM token or directly for wallet with Solana tokens are not supported yet.

All perpetuals trades within MetaMask are powered by Hyperliquid, a leading perps provider. You can trade over 150 perps assets, including BTC, ETH, SOL, and S&P500. (Note: Use of Hyperliquid is subject to their terms and conditions.) Supported equities include Nvidia (NVDA), Tesla (TSLA), Apple (AAPL), Microsoft (MSFT), Palantir Technologies (PLTR), Robinhood Markets (HOOD), Circle Internet Financial (CRCL), Meta Platforms (META), Amazon (AMZN), Alphabet (GOOGL), SharpLink Gaming (SBET), Advanced Micro Devices (AMD), Coinbase Global (COIN), and Netflix (NFLX).

You can trade perpetual futures on MetaMask Mobile or MetaMask Extension. Download MetaMask or update to the latest version to start trading perps. For a step-by-step guide about how to trade perps, head to MetaMask Support.

• Fund a MetaMask perps account with any EVM token on any blockchain network, or directly from your wallet.

• The token to trade perps is USDC on HyperEVM; you’ll receive the equivalent amount.

• Bridging from Arbitrum to HyperEVM requires ETH network fees. If you don’t have any Ether, MetaMask will subtract network fees from the total amount of the token you selected to fund your perps account.

• MetaMask doesn’t take any fees on perps transactions.

• The max slippage fee is 0.5%.

• Once you have funded your perps account, decide whether to go long or short.

• Choose your leverage.

• Set your take profit order/stop loss order.

• Tap confirm, and you’re done.

Yes, MetaMask Perps trading via Hyperliquid is designed for users of all experience levels, including those new to crypto or derivatives. Beginners can easily get started by following our steps for opening, funding, and placing your first trade. All interface prompts are beginner-friendly, guiding new traders from setup through to position management.

Perpetuals trading involves trading contracts tied to the price of an asset, without owning the underlying asset. It allows you to trade with leverage, which means you can have a bigger exposure to the price than the collateral you put in, but you can also lose your collateral faster—as soon as the token price reaches your liquidation price.

Spot trading means buying the underlying asset. You receive what you pay for and lose your investment if the token price drops to $0.

Leverage enables you to increase your trading exposure relative to the amount you deposit, referred to as margin. For instance, with 10x leverage, a £1,000 deposit allows you to open a £10,000 position. This means you can trade larger positions than your account balance would otherwise allow, amplifying both your potential gains and losses.

MetaMask Perps via Hyperliquid supports up to 50x leverage on supported assets. The exact leverage limit may vary depending on the market and liquidity.

Before opening a position, you can select your preferred leverage multiplier directly in the MetaMask Perps interface. Leverage is calculated as the ratio between your trade size and your margin—for example, 10x leverage means your trade size is ten times your margin deposit.

No, leverage is fixed for each position once you’ve confirmed your trade. You can always set different leverage levels on new positions, but you must close an existing position to adjust its leverage.

MetaMask Perps powered by Hyperliquid does not require KYC for eligible jurisdictions. Users should check local availability and regional guidance about crypto futures trading on MetaMask Support.

• Futures contracts have a fixed expiry date and are settled at a future price.

• Perpetual futures (perps) are a specific type of futures contract—distinctively, they have no expiry, allowing you to hold positions for as long as you wish, subject to funding and margin requirements.

• Spot trading refers to purchasing the actual asset for immediate delivery, with no leverage or contract expiry.

Our MetaMask Support Perps guide includes a glossary explaining key trading concepts such as [margin], [leverage], [long/short], [position], and [funding rates]. Start there if you’re new or want to clarify specific terms. We also have a leverage and liquidation calculator tool for you to explore.

Futures contracts are agreements to buy or sell an asset at a specific, fixed price in the future. Perpetual futures, also known as perps, have no expiry date. Options give you the right, but not the obligation, to buy or sell at a set price before the contract’s end date.

Yes, MetaMask Perps via Hyperliquid offers trading on BTCUSDT perpetual contracts and over 150 tokens, including Bitcoin, ETH, and SOL.

MetaMask Perps is a decentralised platform that allows users to trade perpetual futures without KYC (where permitted), supporting cross-chain tokens and removing the need to custody funds via a centralised exchange (CEX).

Crypto liquidation refers to the automatic closure of a position when your margin balance becomes too low to support your leveraged trade. This process ensures you cannot lose more than your deposited margin.

To trade perps, make sure you're using the latest version of MetaMask Mobile or the MetaMask Extension.

Yes, please see our fee table here.