PDD perps: where to trade PDD Holdings perpetual futures
8 tracked venues list PDD perps.
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The cheapest place to trade PDD perps right now is Binance (PDDUSDT): 19.37 bps all-in for a $10,000 market buy at the standard taker fee, measured 11:12 UTC on 2026-10-03.
The next two venues are Bitget 43.81 bps and Gate 82.59 bps. 5 of 8 PDD markets gave a measured cost.
The Binance fee in this cost is a promotion for every account. Binance can end it.
PDD perps list on 8 tracked venues: 5 centralized exchanges, 3 other decentralized venues. Avantis (PDD/USD) and Ostium (PDD/USD) fill at an oracle price, with no public PDD book to measure.
Maximum PDD leverage runs from 5x on Extended (PDD_24_5-USD) to 100x on MEXC (PDDSTOCK_USDT).
Measured PDD cost for a $10,000 buy
- Binance19.37
- Bitget43.81
- Gate82.59
- Bybit82.93
- Extended303.12
PDD funding and open interest
Funding now runs from 0.0% a year on Binance to 4.4% on Extended, across 6 PDD markets. A positive rate means that longs pay shorts.
6 PDD markets report open interest, $4.0 million in total. Binance holds 40% of it ($1.6 million).
Where to trade PDD Holdings perpetual futures
| Venue | Market | Max leverage | Funding now | Annual rate now | 7-day mean, annual | Open interest | Book cost (bps) | Taker fee | All-in (bps) | Promo rate, eligible accounts |
|---|---|---|---|---|---|---|---|---|---|---|
| Binance | PDDUSDT | 20x | 0.0000% / 8 h | 0.0% | +10.8% | $1.6M | 15.37 | 0.040% (docs, promotion for all accounts) | 19.37 | — |
| Bitget | PDDUSDT | 20x | 0.0000% / 8 h | 0.0% | +1.9% | $1.2M | 37.81 | 0.060% (API) | 43.81 | — |
| Gate | PDD_USDT | 20x | 0.0000% / 8 h | 0.0% | −10.1% | $382K | 75.09 | 0.075% (API) | 82.59 | — |
| Bybit | PDDUSDT | 25x | 0.0000% / 8 h | 0.0% | 0.0% | $290K | 80.18 | 0.028% (docs, promotion for all accounts) | 82.93 | — |
| Extended | PDD_24_5-USD | 5x | +0.0005% / 1 h | +4.4% | — | $3,023 | 302.12 | 0.010% (docs) | 303.12 | — |
| MEXC | PDDSTOCK_USDT | 100x | 0.0000% / 8 h | 0.0% | +10.8% | $512K | 32.44 | Not stated for all accounts | — | 0.000% = 32.44 bps (eligible accounts, source, 2026-09-25) |
| Avantis | PDD/USD | 25x | — | — | — | — | No PDD book | Oracle model | — | — |
| Ostium | PDD/USD | — | — | — | — | — | No PDD book | Oracle model | — | — |
Method: a $10,000 PDD market buy fills against each public PDD book.
The PDD book cost is that fill price against the mid, in bps. The PDD all-in cost adds the standard taker fee that every new account gets.
A PDD promo rate that only eligible accounts get is shown in its own column and is never ranked.
A PDD book price does not prove that the venue accepts PDD orders at that time, so check the PDD hours table.
Annual PDD funding is the rate per hour times 8,760, with no compounding. The PDD markets come from venue APIs read on 2026-09-25.
PDD trading hours and price source by venue
| Venue | Market | Hours | Price source |
|---|---|---|---|
| Avantis | PDD/USD | 23/5 or 9:30–16:00 ET | Pyth Pro, Chainlink |
| Binance | PDDUSDT | 24/7, book EWMA weekends | Unnamed data vendors |
| Bitget | PDDUSDT | 24/7, book EMA off-hours | Pyth, dxFeed, Massive, Intrinio |
| Bybit | PDDUSDT | 24/7 | Index with Pyth |
| Extended | PDD_24_5-USD | Per market in API | Stork, Blue Ocean ATS |
| Gate | PDD_USDT | Index holds last close | Paid feeds, crypto venues |
| MEXC | PDDSTOCK_USDT | Varies, no trades closed | Not named in docs |
| Ostium | PDD/USD | Mon–Fri 9:30–16:00 ET | Own feed, Stork nodes |
Find your liquidation price with the liquidation price calculator for PDD. Compare all tickers on the stock perps hub.
Where to Trade PDD Holdings (PDD) Perpetual Futures
Fees and leverage limits apply venue-wide; check PDD terms with the venue.
PDD Holdings (PDD) market overview
PDD Holdings operates Pinduoduo in China and the fast-growing cross-border platform Temu. PDD perpetual futures offer exposure to value-focused e-commerce and aggressive international expansion, with the heightened regulatory and macro risk of a US-listed China name.
Frequently Asked Questions — PDD Holdings (PDD)
What open interest data is available for PDD?
1 venue report positive PDD open interest in this read.
The PDD total leaves out venues outside the read.
How does a PDD Holdings perpetual futures contract differ from the underlying asset?
A PDD Holdings perpetual tracks the PDD Holdings price, with no expiry date and no ownership of PDD Holdings.
Check each venue for PDD Holdings trading hours and the price source.
Category: Stocks