​

Welcome to Ondo Perps

Ondo Perps is the first perpetuals exchange purpose-built for tokenized equities. Traders get leveraged long and short exposure on leading U.S. stocks, indices, and commodities — with execution speed comparable to a centralized exchange and an execution integrity model that no operator, including Ondo, can tamper with.

​

Why Liquidity Is Different Here

Every existing RWA perp venue has the same structural constraint: market makers have to double-collateralize. They post stablecoins on the perp venue and maintain separate cash and inventory at traditional brokerages to hedge. Capital is locked up twice for the same economic exposure. The result is thin books, wide spreads, and slippage that doesn’t reflect the underlying market. Ondo Perps eliminates this by making tokenized securities work directly as collateral. A market maker quoting the NVDA perp can hedge by holding NVDA tokens within the same system — no separate brokerage account, no fragmented capital. This unifies the capital base, tightens spreads, and lets orderbook depth reflect the real liquidity available in the underlying market.

​

The Trader Experience

Deep, real-market liquidity Orderbook depth reflects actual market maker capital efficiency, not the size of a stablecoin pool. Spreads and slippage on Ondo Perps scale with the depth of the underlying market. Multi-asset collateral Deposit USDC or supported Ondo tokenized equities. There is no requirement to convert holdings into stablecoins before trading. Seamless hedging Spot and perpetual exposure coexist on the same venue. Hedging a tokenized equity holding is as simple as opening the opposite perps position in the same asset — no separate platform, no capital fragmentation. Verifiable execution The matching engine runs inside an SGX hardware enclave. The deployed codebase is independently verifiable by the decentralized attestor network. 24/7 markets Positions can be opened and closed at any time, including nights and weekends. See Weekend Mechanics for how funding and mark prices behave when underlying markets are closed.

​

Markets

Perpetual futures are live on leading U.S. equities (AAPL, NVDA, TSLA, MSFT, META, AMZN, GOOGL, and more), major indices (US500, US100), and commodities (WTI oil, gold, silver). Up to 20x leverage. New markets are added regularly.

​

Get Started