On September 3, 2026, Polymarket announced its perpetual futures product, Polymarket Perps, is live, offering up to 20x leverage on crypto, stocks, commodities, and more.
Key Takeaways
- According to Polymarket, the platform caps leverage at up to 20x for crypto, the S&P 500, oil, gold, and silver, and at 10x for other real-world assets.
- The platform lists 67 live perps markets: 36 stocks, 24 crypto, 3 indices, and 4 commodities.
- Trading fees run from 0.04% taker / 0.0125% maker at entry-level volume down to 0.02% taker with a 0.005% maker rebate above $1 billion in 30-day volume.
- Funding charges settle hourly and are capped at ±4% per hour, based on a premium index sampled every five seconds.
- Perps trading is blocked in the United States, Canada, and several sanctioned regions, with US users directed to the CFTC-regulated polymarket.us.
What We Know So Far?
Polymarket confirmed the Perps launch on its official X account on September 3, 2026, and its Perps documentation sets out the product’s leverage, fee, and funding rules. Its CFTC-regulated US venue, polymarket.us, is where US users are sent instead. The move extends Polymarket beyond event trading into the leveraged derivatives category on trading-volume concentration among major platforms.
The company has not disclosed trading volume or open-interest figures since going live, so those numbers remain unconfirmed at publication. Polymarket confirmed via its official X account that Perps is live, describing the product as offering “deepest liquidity, lowest fees” across crypto, equities, indices, and commodities.
Polymarket Perps is live.
— Polymarket (@Polymarket) September 3, 2026
Up to 20x leverage on crypto, stocks, commodities, & more. Deepest liquidity, lowest fees.
Long BTC, predict the Fed, short the S&P reaction — only on Polymarket.com
👉 https://t.co/UwdkHrmEMT pic.twitter.com/hwOULeRjIH
Polymarket’s own Perps documentation describes the product as a perpetual futures exchange offering continuous exposure to equities, indices, commodities, and other underlyings, with positions carrying no expiry. What remains unconfirmed at publication is the platform’s total open interest or trading volume since launch. Polymarket has not published those figures.
How the Leverage and Fees Work?
Leverage tops out at 20x on crypto and four benchmark assets, half that on everything else, and fees fall as volume rises.
The leverage cap is tiered by asset class: up to 20x for crypto, the S&P 500, oil, gold, and silver, and up to 10x for real-world assets more broadly. That split concentrates the sharpest liquidation risk in the assets Polymarket already knows best, crypto and a handful of benchmark commodities, while newer real-world-asset markets carry a shorter leash.
Fee tiers are re-evaluated daily in UTC based on 30-day trading volume, and the funding rate mechanism samples a premium index every five seconds, averaging it over a one-hour window before settling once per window.
This funding rate design mirrors the mechanism used across established DeFi market data venues, where perpetual contracts rely on periodic funding payments rather than expiry dates to anchor contract prices to spot.
Market Access and the US Block
US traders cannot open a Perps position on polymarket.com and are routed to a separate, CFTC-regulated exchange instead.
Trading on polymarket.com is blocked in the United States, and order placement is also prohibited in Canada, Cuba, Iran, North Korea, Syria, Crimea, Donetsk, and Luhansk.
US users are instead directed to polymarket.us, a Designated Contract Market regulated by the CFTC.
The catalog spans stocks including Tesla, Nvidia, Apple, Amazon, and Microsoft, crypto pairs including BTC-USD, ETH-USD, SOL-USD, and HYPE-USD, and commodities including gold, silver, WTI oil, and Brent oil, across 67 total markets.
Why It Matters?
This launch pushes Polymarket beyond its original event prediction business into a full leveraged-derivatives venue competing directly with crypto perpetual exchanges. Building the leverage ceiling around crypto and a narrow set of index and commodity benchmarks, rather than applying 20x uniformly, signals Polymarket is treating its own home turf as the place it can underwrite the most risk.
The bigger read is regulatory sequencing: Polymarket keeps its highest leverage product outside the United States, the one market where its own CFTC-regulated exchange already operates, which suggests the international rollout is deliberately staying ahead of, rather than around, US derivatives oversight. Traders outside restricted jurisdictions gain access to a leveraged product where a 20x position can be liquidated on a small adverse price swing. Understanding the specific asset’s leverage tier and the hourly funding cost is essential before sizing any position.
