Oct. 21 (CandyPulse) — Perpetual futures, the most popular crypto product on offshore exchanges, are coming to another big U.S. trading app. Webull said on Oct. 20 that it will offer perps to eligible U.S. customers starting in November, beginning with Bitcoin and other cryptocurrencies, through a partnership with Kalshi.
Key takeaways
| Detail | Answer |
|---|---|
| Who | Webull, with Kalshi |
| What | Crypto perpetual futures, starting with Bitcoin |
| When | From November; broader availability expected before year-end |
| Exchange | KalshiEX LLC (CFTC-regulated) |
| Clearing | Kalshi Klear LLC |
| Account needed | A Webull Futures account |
| Leverage and fees | Not yet disclosed |
A perpetual future ("perp") lets you bet on a coin's price going up or down without an expiry date. Traders pay or receive small funding payments to keep the contract close to the real price. Perps usually come with leverage, which magnifies both gains and losses. If the market moves against you, your position can be liquidated.
That risk is real: we recently covered how $52 million was liquidated in 10 minutes on chip-stock perps.
Perps have mostly lived on offshore exchanges. The CFTC approved the first U.S. perpetual contracts earlier this year for Coinbase and Kalshi, and now more brokers are joining. Not everyone is happy: CME Group has challenged the framework, and its CEO Terry Duffy has warned about leverage risks for retail traders.
Related: Robinhood plans U.S. crypto perpetual futures with 10x leverage and Coinbase wins CFTC approval for its own clearinghouse.
Watch for Webull to confirm the launch date, coin list, leverage limits and fees. Browse more on our Bitcoin, Regulation and Tokenization topic pages, or catch up with crypto news today.
Disclaimer: This article is for information only and is not financial advice. Leveraged derivatives such as perpetual futures are high risk and can lead to losses greater than expected, including full liquidation. Always do your own research before trading.
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