Derivatives

Perpetual & quarterly futures

Up to 100x leverage on 220+ pairs. USDT-margined, coin-margined, deep liquidity, 10ms matching engine, and a $200M insurance fund. Trade pro, copy the best, or hedge your spot — on one unified portfolio margin account.

Apply for futures access See top traders
$184B24h volume
220+perpetual pairs
10msmatch latency
$200Minsurance fund
Maximum leverage 100x

On BTC, ETH and SOL perpetuals. 50x on 18 majors, 25x on the long tail. Leverage adjusts in real time to volatility and position size.

Open futures account Read risk disclosure

Up to 100x leverage

Cross or isolated margin, custom leverage per position. Leverage caps adjust automatically to your position size and market volatility.

Tight funding

Funding rates indexed to spot and smoothed by a 5-oracle feed (Chainlink, Pyth, CoinGecko, Kaiko, CryptoCompare) — no single-source manipulation.

Insurance fund

$200M backstop protects winners from auto-deleverage events. Socialised-loss mode has never been triggered on PayBit.

Live funding rates

Transparent funding, across every pair

8-hour funding paid from longs to shorts (or vice versa) based on perp-to-spot premium. Here's the current snapshot for top pairs.

PairMark price24h chgFunding (8h)Next inOpen interest24h volume
BTC-PERP$62,140+1.2%+0.0082%3h 14m$3.2B$48.6B
ETH-PERP$3,412+2.1%+0.0104%3h 14m$1.8B$22.1B
SOL-PERP$142.80+4.8%+0.0211%3h 14m$680M$9.4B
XRP-PERP$0.52−0.6%−0.0018%3h 14m$280M$3.2B
DOGE-PERP$0.128+3.1%+0.0148%3h 14m$310M$4.1B
AVAX-PERP$28.40+2.6%+0.0092%3h 14m$140M$1.2B
TIA-PERP$7.81−1.1%−0.0042%3h 14m$62M$480M
SUI-PERP$1.42+5.4%+0.0326%3h 14m$95M$820M
Margin modes

Cross & isolated — your call per position

Cross margin

Your entire futures balance backs every open position. More capital-efficient, ideal for hedged portfolios and market-makers.

  • Higher max leverage per position
  • Shared liquidation price — unrealized PnL offsets losses
  • Preferred mode for portfolio-margin accounts
  • Includes PayBit auto-deleverage protection

Isolated margin

Each position has its own margin wallet. Losses cap at the margin you allocate. Best for directional swing trades and strict risk controls.

  • Hard cap on downside per trade
  • Independent liquidation price shown live
  • One-click margin top-up
  • Supports negative-balance protection on top 20 pairs
Liquidation & insurance

Engineered to avoid the liq cascade

PayBit's partial-liquidation engine closes positions in 5%-20% slices, starting at the most leveraged. You get warned, margin-called, then partially closed — never nuked in one shot.

  • 3-stage margin call

    Soft warning at 80% MR, margin call at 90%, partial liquidation at 100%.

  • Negative-balance protection

    On top 20 pairs, you can never lose more than you put in — PayBit's insurance absorbs the overshoot.

  • Insurance fund transparency

    Balance, inflows and drawdowns published every hour to a public dashboard.

  • Auto-deleverage (ADL) disclosed

    ADL rank visible per position, triggered only when the fund is fully depleted (never happened since launch).

Insurance fund+ $420k today
$200,814,290
0ADL events, lifetime
100%positive trades honored
$0socialised losses
Top traders · 30d

Copy the desks that consistently win

Every leaderboard trader is fully transparent — positions, entries, drawdown and win-rate are public. Copy them with one tap.

1
AX
Axiom Desk
BTC/ETH directional · 28% win-rate · 3.2 Sharpe
+184.2%
2
RL
Relay Systematic
market-neutral basis · 1.8 Sharpe · low vol
+92.4%
3
NM
Noon Macro
swing perps · altcoin focus · 2.4 Sharpe
+71.8%
4
FL
Flux Quant
funding arb · stat-arb · 2.9 Sharpe
+58.2%
5
KR
Kraken Scalp
intraday · high frequency · 1.6 Sharpe
+44.1%
See full leaderboard
Pro tooling, built in

Everything a desk needs on day one

FIX + WebSocket API

Sub-10ms order entry, drop-copy, and a fully documented REST/WS/FIX 4.4 interface. Free for all volume tiers.

Portfolio margin

Single margin wallet across futures, options and spot. Risk-based margin cuts capital requirement by up to 70%.

Sub-accounts

Unlimited sub-accounts with per-sub risk limits. Ideal for prop desks, fund admins and external PMs.

2FA & withdrawal allowlist

Hardware key 2FA, time-locked withdrawals, anti-phishing codes and whitelisted addresses per sub-account.

TradingView & OrderFlow

Native TradingView charts with DOM, footprint, volume-profile and 80+ indicators. No third-party plugin needed.

24/7 pro support

Dedicated desk line for VIP 3+. Median response 90 seconds, with post-trade ops available around the clock.

Q2 · Q3 · Q4 2026

Derivatives roadmap

Q2 2026 · shipped

  • Portfolio margin GA
  • Options on BTC & ETH
  • Cross-chain USDC margin
  • TradingView OrderFlow module

Q3 2026 · in progress

  • Perps on tokenized equities
  • Native copy-trading vaults
  • FX-crypto inverse pairs
  • Reduce-only mode for sub-accounts

Q4 2026 · planned

  • Dated quarterly futures on 30 pairs
  • RFQ block-trading for >$1M orders
  • Structured products integration
  • Prime brokerage API (Fireblocks + Copper)
FAQ

Derivatives, explained

How does funding work?

Perpetual futures pay funding every 8 hours, proportional to the premium between mark and spot. If the perp trades above spot, longs pay shorts (and vice versa). Rates are capped at ±0.75% per interval.

What are the fee tiers?

Retail: 0.02% maker / 0.055% taker. VIP 1 kicks in at $5M 30-day volume with 0% maker rebate. Full table is in the help center.

Do I need to complete a quiz?

Yes. Before enabling futures we require passing a 10-question risk disclosure quiz. It takes about 5 minutes and exists to protect you, not gate you out.

What happens if the market gaps?

PayBit's partial-liquidation engine closes positions in 5% slices. In extreme gaps, the insurance fund absorbs the overshoot. No ADL has ever been triggered in the history of the exchange.

Is 100x really sustainable?

100x is available on BTC, ETH and SOL for position sizes up to $50k notional. Above that, effective leverage caps scale down automatically to protect the orderbook during volatility.

Can I short-only with isolated margin?

Yes. Every pair supports full long/short, and the "reduce-only" flag prevents accidental re-entry after partial close.

Derivatives are a complex product

Trading with leverage can amplify both gains and losses and is not suitable for everyone. You can lose more than your initial margin in extreme scenarios. Please read the full risk disclosure and complete the eligibility quiz before trading.

Apply for futures access Read risk disclosure