Markets · Crypto
Crypto perpetual futures
Crypto is where perpetual futures began. The crypto exchange BitMEX launched a bitcoin perpetual in 2016, and perps have since become the most traded crypto derivative. Graybook lists Bitcoin, Ether, Solana, XRP and 16 more coins, priced on Coinbase in U.S. dollars.
On most crypto exchanges a perpetual stays close to spot through funding payments: every few hours, longs pay shorts when the perpetual trades above spot, and shorts pay longs when it trades below. The rate changes each time, so the cost of holding a position isn't known in advance.
Graybook does not charge funding. Each entry is priced with a fixed upfront basis, so the cost of holding a position is known the moment you open it. Crypto trades 24 hours a day, every day, and so do the perpetuals: there is no close and no re-anchoring.
Leverage is up to 25x on Bitcoin, 15x on Ether and 5x on the other coins. Sizes follow the coin: the smallest Bitcoin order is 0.1 BTC, so a $1,000 move in Bitcoin is $100 on the minimum position.
- 25x
- Max leverage
- None
- Expiry
- Coinbase
- Underlying markets
- None
- Funding payments
Crypto contract specs
Prices are delayed daily closes of the underlying markets, latest session Nov 14, 2026. Click a contract for its specs.
BitcoinBTC-PERPCoinbase$64,128.05−21.93%−21.93%25x
- Contract
- BTC-PERP
- Underlying
- Bitcoin (BTC) spot price in USD
- Underlying market
- Coinbase
- Contract size
- 1 BTC
- Tick size
- 0.01
- Minimum size
- 0.1 BTC
- Max leverage
- 25x
- Expiry
- None (perpetual)
- Funding payments
- None: fixed upfront basis at entry
- Trading on Graybook
- 24/7, like the underlying market
- Underlying hours
- Crypto markets trade 24 hours a day, 7 days a week.
About one month, daily closes (delayed)
−21.93%EthereumETH-PERPCoinbase$1,769.12−27.51%−27.51%15x
- Contract
- ETH-PERP
- Underlying
- Ethereum (ETH) spot price in USD
- Underlying market
- Coinbase
- Contract size
- 1 ETH
- Tick size
- 0.01
- Minimum size
- 1 ETH
- Max leverage
- 15x
- Expiry
- None (perpetual)
- Funding payments
- None: fixed upfront basis at entry
- Trading on Graybook
- 24/7, like the underlying market
- Underlying hours
- Crypto markets trade 24 hours a day, 7 days a week.
About one month, daily closes (delayed)
−27.51%ZcashZEC-PERPCoinbase$863.07−29.24%−29.24%5x
- Contract
- ZEC-PERP
- Underlying
- Zcash (ZEC) spot price in USD
- Underlying market
- Coinbase
- Contract size
- 1 ZEC
- Tick size
- 0.01
- Minimum size
- 0.01 ZEC
- Max leverage
- 5x
- Expiry
- None (perpetual)
- Funding payments
- None: fixed upfront basis at entry
- Trading on Graybook
- 24/7, like the underlying market
- Underlying hours
- Crypto markets trade 24 hours a day, 7 days a week.
About one month, daily closes (delayed)
−29.24%XRPXRP-PERPCoinbase$0.9130−31.52%−31.52%5x
- Contract
- XRP-PERP
- Underlying
- XRP (XRP) spot price in USD
- Underlying market
- Coinbase
- Contract size
- 1 XRP
- Tick size
- 0.0001
- Minimum size
- 1000 XRP
- Max leverage
- 5x
- Expiry
- None (perpetual)
- Funding payments
- None: fixed upfront basis at entry
- Trading on Graybook
- 24/7, like the underlying market
- Underlying hours
- Crypto markets trade 24 hours a day, 7 days a week.
About one month, daily closes (delayed)
−31.52%SolanaSOL-PERPCoinbase$70.18−33.37%−33.37%5x
- Contract
- SOL-PERP
- Underlying
- Solana (SOL) spot price in USD
- Underlying market
- Coinbase
- Contract size
- 1 SOL
- Tick size
- 0.01
- Minimum size
- 10 SOL
- Max leverage
- 5x
- Expiry
- None (perpetual)
- Funding payments
- None: fixed upfront basis at entry
- Trading on Graybook
- 24/7, like the underlying market
- Underlying hours
- Crypto markets trade 24 hours a day, 7 days a week.
About one month, daily closes (delayed)
−33.37%NEAR ProtocolNEAR-PERPCoinbase$3.0235−42.48%−42.48%5x
- Contract
- NEAR-PERP
- Underlying
- NEAR Protocol (NEAR) spot price in USD
- Underlying market
- Coinbase
- Contract size
- 1 NEAR
- Tick size
- 0.0001
- Minimum size
- 1 NEAR
- Max leverage
- 5x
- Expiry
- None (perpetual)
- Funding payments
- None: fixed upfront basis at entry
- Trading on Graybook
- 24/7, like the underlying market
- Underlying hours
- Crypto markets trade 24 hours a day, 7 days a week.
About one month, daily closes (delayed)
−42.48%SuiSUI-PERPCoinbase$0.6993−32.54%−32.54%5x
- Contract
- SUI-PERP
- Underlying
- Sui (SUI) spot price in USD
- Underlying market
- Coinbase
- Contract size
- 1 SUI
- Tick size
- 0.0001
- Minimum size
- 100 SUI
- Max leverage
- 5x
- Expiry
- None (perpetual)
- Funding payments
- None: fixed upfront basis at entry
- Trading on Graybook
- 24/7, like the underlying market
- Underlying hours
- Crypto markets trade 24 hours a day, 7 days a week.
About one month, daily closes (delayed)
−32.54%HyperliquidHYPE-PERPCoinbase$64.41−21.19%−21.19%5x
- Contract
- HYPE-PERP
- Underlying
- Hyperliquid (HYPE) spot price in USD
- Underlying market
- Coinbase
- Contract size
- 1 HYPE
- Tick size
- 0.01
- Minimum size
- 1 HYPE
- Max leverage
- 5x
- Expiry
- None (perpetual)
- Funding payments
- None: fixed upfront basis at entry
- Trading on Graybook
- 24/7, like the underlying market
- Underlying hours
- Crypto markets trade 24 hours a day, 7 days a week.
About one month, daily closes (delayed)
−21.19%CardanoADA-PERPCoinbase$0.14753−35.78%−35.78%5x
- Contract
- ADA-PERP
- Underlying
- Cardano (ADA) spot price in USD
- Underlying market
- Coinbase
- Contract size
- 1 ADA
- Tick size
- 0.00001
- Minimum size
- 100 ADA
- Max leverage
- 5x
- Expiry
- None (perpetual)
- Funding payments
- None: fixed upfront basis at entry
- Trading on Graybook
- 24/7, like the underlying market
- Underlying hours
- Crypto markets trade 24 hours a day, 7 days a week.
About one month, daily closes (delayed)
−35.78%DogecoinDOGE-PERPCoinbase$0.05725−29.38%−29.38%5x
- Contract
- DOGE-PERP
- Underlying
- Dogecoin (DOGE) spot price in USD
- Underlying market
- Coinbase
- Contract size
- 1 DOGE
- Tick size
- 0.00001
- Minimum size
- 1000 DOGE
- Max leverage
- 5x
- Expiry
- None (perpetual)
- Funding payments
- None: fixed upfront basis at entry
- Trading on Graybook
- 24/7, like the underlying market
- Underlying hours
- Crypto markets trade 24 hours a day, 7 days a week.
About one month, daily closes (delayed)
−29.38%ChainlinkLINK-PERPCoinbase$8.873−28.74%−28.74%5x
- Contract
- LINK-PERP
- Underlying
- Chainlink (LINK) spot price in USD
- Underlying market
- Coinbase
- Contract size
- 1 LINK
- Tick size
- 0.001
- Minimum size
- 0.1 LINK
- Max leverage
- 5x
- Expiry
- None (perpetual)
- Funding payments
- None: fixed upfront basis at entry
- Trading on Graybook
- 24/7, like the underlying market
- Underlying hours
- Crypto markets trade 24 hours a day, 7 days a week.
About one month, daily closes (delayed)
−28.74%LitecoinLTC-PERPCoinbase$44.385−27.13%−27.13%5x
- Contract
- LTC-PERP
- Underlying
- Litecoin (LTC) spot price in USD
- Underlying market
- Coinbase
- Contract size
- 1 LTC
- Tick size
- 0.001
- Minimum size
- 0.01 LTC
- Max leverage
- 5x
- Expiry
- None (perpetual)
- Funding payments
- None: fixed upfront basis at entry
- Trading on Graybook
- 24/7, like the underlying market
- Underlying hours
- Crypto markets trade 24 hours a day, 7 days a week.
About one month, daily closes (delayed)
−27.13%UniswapUNI-PERPCoinbase$4.8847−34.20%−34.20%5x
- Contract
- UNI-PERP
- Underlying
- Uniswap (UNI) spot price in USD
- Underlying market
- Coinbase
- Contract size
- 1 UNI
- Tick size
- 0.0001
- Minimum size
- 0.1 UNI
- Max leverage
- 5x
- Expiry
- None (perpetual)
- Funding payments
- None: fixed upfront basis at entry
- Trading on Graybook
- 24/7, like the underlying market
- Underlying hours
- Crypto markets trade 24 hours a day, 7 days a week.
About one month, daily closes (delayed)
−34.20%AaveAAVE-PERPCoinbase$100.51−36.14%−36.14%5x
- Contract
- AAVE-PERP
- Underlying
- Aave (AAVE) spot price in USD
- Underlying market
- Coinbase
- Contract size
- 1 AAVE
- Tick size
- 0.01
- Minimum size
- 0.01 AAVE
- Max leverage
- 5x
- Expiry
- None (perpetual)
- Funding payments
- None: fixed upfront basis at entry
- Trading on Graybook
- 24/7, like the underlying market
- Underlying hours
- Crypto markets trade 24 hours a day, 7 days a week.
About one month, daily closes (delayed)
−36.14%BNBBNB-PERPCoinbase$581.38−20.21%−20.21%5x
- Contract
- BNB-PERP
- Underlying
- BNB (BNB) spot price in USD
- Underlying market
- Coinbase
- Contract size
- 1 BNB
- Tick size
- 0.01
- Minimum size
- 0.001 BNB
- Max leverage
- 5x
- Expiry
- None (perpetual)
- Funding payments
- None: fixed upfront basis at entry
- Trading on Graybook
- 24/7, like the underlying market
- Underlying hours
- Crypto markets trade 24 hours a day, 7 days a week.
About one month, daily closes (delayed)
−20.21%Official TrumpTRUMP-PERPCoinbase$0.9411−50.05%−50.05%5x
- Contract
- TRUMP-PERP
- Underlying
- Official Trump (TRUMP) spot price in USD
- Underlying market
- Coinbase
- Contract size
- 1 TRUMP
- Tick size
- 0.0001
- Minimum size
- 1 TRUMP
- Max leverage
- 5x
- Expiry
- None (perpetual)
- Funding payments
- None: fixed upfront basis at entry
- Trading on Graybook
- 24/7, like the underlying market
- Underlying hours
- Crypto markets trade 24 hours a day, 7 days a week.
About one month, daily closes (delayed)
−50.05%StellarXLM-PERPCoinbase$0.135048−26.14%−26.14%5x
- Contract
- XLM-PERP
- Underlying
- Stellar (XLM) spot price in USD
- Underlying market
- Coinbase
- Contract size
- 1 XLM
- Tick size
- 0.000001
- Minimum size
- 10 XLM
- Max leverage
- 5x
- Expiry
- None (perpetual)
- Funding payments
- None: fixed upfront basis at entry
- Trading on Graybook
- 24/7, like the underlying market
- Underlying hours
- Crypto markets trade 24 hours a day, 7 days a week.
About one month, daily closes (delayed)
−26.14%AvalancheAVAX-PERPCoinbase$7.091−29.32%−29.32%5x
- Contract
- AVAX-PERP
- Underlying
- Avalanche (AVAX) spot price in USD
- Underlying market
- Coinbase
- Contract size
- 1 AVAX
- Tick size
- 0.001
- Minimum size
- 0.1 AVAX
- Max leverage
- 5x
- Expiry
- None (perpetual)
- Funding payments
- None: fixed upfront basis at entry
- Trading on Graybook
- 24/7, like the underlying market
- Underlying hours
- Crypto markets trade 24 hours a day, 7 days a week.
About one month, daily closes (delayed)
−29.32%HederaHBAR-PERPCoinbase$0.05616−34.01%−34.01%5x
- Contract
- HBAR-PERP
- Underlying
- Hedera (HBAR) spot price in USD
- Underlying market
- Coinbase
- Contract size
- 1 HBAR
- Tick size
- 0.00001
- Minimum size
- 10 HBAR
- Max leverage
- 5x
- Expiry
- None (perpetual)
- Funding payments
- None: fixed upfront basis at entry
- Trading on Graybook
- 24/7, like the underlying market
- Underlying hours
- Crypto markets trade 24 hours a day, 7 days a week.
About one month, daily closes (delayed)
−34.01%Bitcoin CashBCH-PERPCoinbase$200.91−27.71%−27.71%5x
- Contract
- BCH-PERP
- Underlying
- Bitcoin Cash (BCH) spot price in USD
- Underlying market
- Coinbase
- Contract size
- 1 BCH
- Tick size
- 0.01
- Minimum size
- 0.01 BCH
- Max leverage
- 5x
- Expiry
- None (perpetual)
- Funding payments
- None: fixed upfront basis at entry
- Trading on Graybook
- 24/7, like the underlying market
- Underlying hours
- Crypto markets trade 24 hours a day, 7 days a week.
About one month, daily closes (delayed)
−27.71%Crypto markets trade 24 hours a day, 7 days a week. Graybook trades the perpetuals 24/7.
Crypto perpetual futures: questions
What is a crypto perpetual future?
A contract on a coin's price with no expiry date. On Graybook it tracks the coin's Coinbase price in U.S. dollars.
Does Graybook charge funding on crypto perps?
No. There are no funding payments. Each entry price includes a fixed upfront basis, locked in when you open the position.
What leverage is available?
Up to 25x on Bitcoin, 15x on Ether and 5x on every other coin.