Live data
Toncoin (TON) perpetual futures
Live funding rates, open interest, and measured trade costs for Toncoin. 18 venues in the PerpFinder venue map list TON perps.
At a glance
This TON funding snapshot covers 2 venues: Hyperliquid and dYdX. It is the server-rendered page seed, not the venue total; the live funding panel below covers every venue that lists TON.
- Highest annualized funding
- 0.00%dYdX
- Lowest annualized funding
- 0.00%Hyperliquid
More
The highest listed annualized funding rate is 0.00% on dYdX, and the lowest is 0.00% on Hyperliquid.
0 of 2 listed venues report open interest for TON, so there is no executable spread.
The TON price in this snapshot comes from Hyperliquid at $1.80.
Generated from live venue feeds at
Funding rates
Annualized rates across exchanges
dYdXDEX
HyperliquidDEXOpen interest
Per-exchange open interest
No venue in this snapshot reports open interest
Long/short ratio
Account-level positioning
Long/short ratios are published for BTC, ETH, SOL, and XRP only.
Cost comparison
Fee plus slippage for a $100K trade
The order-book cost engine measures BTC, ETH, SOL, XRP, BNB, DOGE and HYPE. TON is not measured. Live costs for the measured assets are on the cost comparison tool.
Where to Trade Toncoin (TON) Perpetual Futures
17 of the 18 venues that list TON perps have a PerpFinder review page. The table compares fees, leverage, and features for those 17.
| Venue | Maker | Taker | Max leverage | Rating | Trade |
|---|---|---|---|---|---|
| 0.015% | 0.045% | 40x | 9.2 | TON → | |
| 0.010% | 0.050% | 50x | 9.0 | TON → | |
| 0.04% or 0.06% when opening and again when closing; rate depends on whether the action improves or worsens pool imbalance | 100x | 8.5 | TON → | ||
| 0.035% when opening and again when closing; BTC and ETH review rate; other pairs can use different fees and spreads | 1000x | 8.0 | TON → | ||
| 0.010% | 0.035% | 50x | 8.0 | TON → | |
| 0.020% | 0.050% | 100x | 8.0 | TON → | |
| 0.010% | 0.020% | 100x | 7.8 | TON → | |
| Free | 0.030% | 50x | 7.8 | TON → | |
| -0.010% | 0.017% | 1000x | 7.8 | TON → | |
| 0.050% | 0.080% | 20x | 7.5 | TON → | |
| Free | 0.040% | 100x | 7.5 | TON → | |
| 0.012% | 0.038% | 100x | 7.5 | TON → | |
| Free | 0.000% | 50x | 7.5 | TON → | |
| 0.01% or 0.045% when opening and again when closing; crypto standard perps; 0.01% improves the open-interest balance, 0.045% worsens it; forex, commodity and equity markets are 0% and Upside Perps use profit sharing | 100x | 7.0 | TON → | ||
| 0.045% or 0.055% when opening and again when closing; VIP Tier 0; 0.045% when an executed open, increase, close, or decrease improves long-short open-interest balance, and 0.055% when it worsens that balance | 100x | 7.0 | TON → | ||
| 0.04% or 0.06% when opening and again when closing; rate depends on whether the action improves or worsens the long and short balance | 100x | 6.5 | TON → | ||
| 0.020% | 0.050% | 100x | 6.5 | TON → | |
Market Overview
TON perps give traders exposure to The Open Network, the blockchain originally developed by Telegram and now maintained by the TON Foundation. With Telegram's built-in wallet integrations and hundreds of millions of users, TON has an adoption pathway that most layer-1 tokens lack. That distribution advantage is the primary narrative behind TON's perp market activity.
Venue structure and OI distribution
Binance, Bybit, and OKX all quote TON perps, and Hyperliquid lists the pair on-chain. The deepest TON book sits on Binance, reflecting the asset's significant retail presence in Asia and Eastern Europe, where Telegram usage is concentrated. Coinalyze's TON open interest data shows TON OI growing substantially through 2024 as Telegram wallet integrations expanded the accessible user base.
DEX venue depth for TON is limited, partly because TON operates on its own chain with a distinct account model that limits cross-chain DeFi integration with major Ethereum and Solana DEX ecosystems.
Telegram integration and funding catalysts
TON funding spikes around two types of events: Telegram product announcements that expand the wallet's features or reach, and broader adoption milestones for TON-native applications (tap-to-earn games, payment bots). Telegram integration news reaches a very large user base at one time, which brings retail buyers into TON quickly.
CoinDesk's TON coverage tracks major developments. Regulatory news affecting Telegram directly also moves TON perp funding, given how closely the two are linked.
Key risk factors for TON perp positions
TON carries platform concentration risk unlike any other perp-tradeable asset. If Telegram changes its wallet policy, removes the TON integration, or faces regulatory action that limits the wallet's distribution, the primary adoption driver disappears. The current setup depends entirely on Telegram remaining both willing and able to distribute TON to its users. Manage position sizes accordingly and use the funding rates tool to monitor unusual funding changes that might precede major news.
Trading Tips for Toncoin Perps
TON price action is heavily influenced by Telegram ecosystem developments. Monitor Telegram mini-app launches and TON-based game viral moments as catalysts. TON perps can gap sharply on Telegram-related news due to the massive retail audience that drives immediate order flow.
Frequently Asked Questions — Toncoin (TON)
What is the current TON perpetual futures funding rate?
The live Toncoin (TON) funding-rate panel updates every 2 minutes. It shows annualized rates for each exchange that lists TON perps. A positive rate means long traders pay short traders, while a negative rate means shorts pay longs.
Which exchange has the lowest TON perp trading fees?
Among 12 tracked TON venues with comparable order-book schedules, Paradex lists the lowest taker fee at 0.000%. DESK lists 0.017%. 5 position-fee venues are excluded from this maker/taker result. Use the cost comparison for total cost.
How does Toncoin open interest compare across exchanges?
The Toncoin (TON) open-interest chart shows the total value of outstanding TON derivative contracts on each exchange. Rising open interest indicates new capital entering the market, while declining OI suggests positions are being closed.
What does the TON long/short ratio indicate?
The Toncoin long/short ratio shows the balance between traders betting on price increases (longs) versus decreases (shorts) across exchanges. An extreme ratio in either direction can signal potential reversals as crowded positioning often leads to liquidation cascades.
Where can I trade TON perpetual futures?
Toncoin (TON) perps are listed on 17 exchanges, including Hyperliquid, dYdX, GMX, Gains Network, and Bluefin, plus 12 more. The "Where to Trade Toncoin (TON) Perpetual Futures" section compares fees and leverage limits and gives a direct trading link for each venue.
Category: Layer 1 · Data updates every 2 minutes · All rates shown are annualized