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Perpetual futures provide continuous, leveraged exposure to an underlying market, such as stocks or commodities. Perpetual contracts have no scheduled expiry, but may be adjusted or settled under their event and market-closure rules. Positions require sufficient margin, and funding rates are designed to keep perpetual prices aligned with the applicable oracle price. Ondo Perps offers perpetual futures on U.S. equities, indices, ETFs, commodities and private companies ahead of a potential public listing. Trading is available 24/7, including outside traditional market hours and on weekends, subject to applicable trading restrictions. See Pre-IPO Markets for pre-IPO contract terms, adjustments and market-closure rules. Perpetual futures give leveraged exposure without ownership of the underlying asset. Spot markets support fully funded purchases of the corresponding Ondo Global Markets token, with no leverage or perpetual funding payments. The interface shows the purchased tokenized stock as an equivalent balance. See Spot trading. Key characteristics:
  • No scheduled expiry
  • Long and short positions supported
  • Funding rates are designed to keep perpetual prices aligned with the applicable oracle price
  • Positions require sufficient margin and remain subject to applicable adjustment and market-closure rules