SPX perps: where to trade S&P 500 perpetual futures
8 tracked venues list SPX perps.
PerpFinder may earn a commission from this link. You can lose all your money on perp trades. Details
The cheapest place to trade SPX perps right now is Lighter (US500): 0.15 bps all-in for a $10,000 market buy at the standard taker fee, measured 11:09 UTC on 2026-10-03.
The next two venues are trade.xyz 1.22 bps and OKX 11.28 bps. 5 of 8 SPX markets gave a measured cost.
SPX perps list on 8 tracked venues: 4 centralized exchanges, 1 Hyperliquid HIP-3 deployment, 3 other decentralized venues. Avantis (US500/USD) and Ostium (SPX/USD) fill at an oracle price, with no public SPX book to measure.
Maximum SPX leverage runs from 20x on OKX (US500-USDT-SWAP) to 200x on MEXC (SPX500_USDT).
SPX funding and open interest
Funding now runs from -19.4% a year on MEXC to 4.9% on trade.xyz, across 6 SPX markets. A positive rate means that longs pay shorts.
6 SPX markets report open interest, $427.4 million in total. trade.xyz holds 82% of it ($349.1 million).
Measured SPX cost for a $10,000 buy
- Lighter0.15
- trade.xyz1.22
- OKX11.28
- Gate22.60
- Bitget25.58
Where to trade S&P 500 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Lighter | US500 | 50x | +0.0004% / 1 h | +3.5% | — | $1.8M | 0.15 | 0.000% (API) | 0.15 | — |
| trade.xyz | xyz:SP500 | 50x | +0.0006% / 1 h | +4.9% | +4.3% | $349.1M | 0.32 | 0.0090% (API, live) | 1.22 | — |
| OKX | US500-USDT-SWAP | 20x | 0.0000% / 8 h | 0.0% | +17.5% | $180K | 6.28 | 0.050% (docs) | 11.28 | — |
| Gate | SPX500_USDT | 100x | 0.0000% / 8 h | 0.0% | −0.2% | $831K | 15.10 | 0.075% (API) | 22.60 | — |
| Bitget | SP500USDT | 50x | 0.0000% / 8 h | 0.0% | 0.0% | $7.1M | 19.58 | 0.060% (API) | 25.58 | — |
| MEXC | SPX500_USDT | 200x | −0.0177% / 8 h | −19.4% | −4.9% | $68.3M | 1.42 | Not stated for all accounts | — | 0.000% = 1.42 bps (eligible accounts, source, 2026-09-25) |
| Avantis | US500/USD | 25x | — | — | — | — | No SPX book | Oracle model | — | — |
| Ostium | SPX/USD | — | — | — | — | — | No SPX book | Oracle model | — | — |
Method: a $10,000 SPX market buy fills against each public SPX book.
The SPX book cost is that fill price against the mid, in bps. The SPX all-in cost adds the standard taker fee that every new account gets.
A SPX promo rate that only eligible accounts get is shown in its own column and is never ranked.
A SPX book price does not prove that the venue accepts SPX orders at that time, so check the SPX hours table.
Annual SPX funding is the rate per hour times 8,760, with no compounding. The SPX markets come from venue APIs read on 2026-09-25.
SPX trading hours and price source by venue
| Venue | Market | Hours | Price source |
|---|---|---|---|
| Avantis | US500/USD | 23/5 or 9:30–16:00 ET | Pyth Pro, Chainlink |
| Bitget | SP500USDT | 24/7, book EMA off-hours | Pyth, dxFeed, Massive, Intrinio |
| Gate | SPX500_USDT | Index holds last close | Paid feeds, crypto venues |
| Lighter | US500 | 24/7 | Pyth Pro (NVDA, TSLA) |
| MEXC | SPX500_USDT | Varies, no trades closed | Not named in docs |
| OKX | US500-USDT-SWAP | 24/7 book, anchored weekends | Several providers |
| Ostium | SPX/USD | Mon–Fri 9:30–16:00 ET | Own feed, Stork nodes |
| trade.xyz | xyz:SP500 | 24/7, bounded off-hours | Relayer, Blue Ocean ATS |
Find your liquidation price with the liquidation price calculator for SPX. Compare all tickers on the stock perps hub. Read how trade.xyz lists SPX on Hyperliquid.
Where to Trade S&P 500 (SPX) Perpetual Futures
Fees and leverage limits apply venue-wide; check SPX terms with the venue.
S&P 500 (SPX) market overview
The S&P 500 is the world's most important equity index, tracking 500 large-cap US stocks and serving as the primary benchmark for global equity performance. SPX perpetual futures on decentralized exchanges allow crypto-native traders to access the most liquid equity derivative market without traditional brokerage infrastructure, enabling multi-asset portfolio construction entirely on-chain.
On this page SPX means the S&P 500 equity index — note the ticker collision, since on some perp DEXes "SPX" is the SPX6900 memecoin instead (a sub-$10 quote is the memecoin, not the index).
The cash index only prices during US market hours; several venues halt index perps outside them, and those that keep quoting reference a frozen oracle until the reopen gap.
Frequently Asked Questions — S&P 500 (SPX)
How does a S&P 500 perpetual futures contract differ from the underlying asset?
A S&P 500 perpetual tracks the S&P 500 price, with no expiry date and no ownership of S&P 500.
Check each venue for S&P 500 trading hours and the price source.
Category: Index