Polymarket perps: fees, leverage and how they work
Polymarket launched perpetual futures (perps) on September 3, 2026. Matching runs off the blockchain, and custody and settlement run on Polygon. The entry-tier fee is 0.0400% taker and 0.0125% maker, and funding is paid every hour. The docs do not permit order placement from the United States or Canada.
PerpFinder opened each source on 2026-09-25. No PerpFinder account traded on Polymarket.
What the product is
Polymarket Perps is a perpetual futures exchange from Polymarket. Margin and collateral use pUSD.
Source: Polymarket docs: perps overview, Polymarket docs: perps concepts (read 2026-09-25).
Launch date and status
Polymarket states that it launched Perps on September 3, 2026. The post also refers to accounts from an earlier beta.
Source: Polymarket news: inside Polymarket Perps (September 9, 2026) (read 2026-09-25).
Where the orders fill and clear
Polymarket Perps is a hybrid exchange. Matching happens off the blockchain for speed, and custody and settlement run on Polygon.
Source: Polymarket docs: perps architecture (read 2026-09-25).
The index price uses Pyth, Chainlink Data Streams and Hyperliquid as price sources.
Source: Polymarket docs: perps index price (read 2026-09-25).
Who can use it
The FAQ states that order placement is not permitted from the United States, Canada, Cuba, Iran, North Korea, Syria, Crimea, Donetsk or Luhansk.
Source: Polymarket docs: perps FAQ (read 2026-09-25).
Trading fees
The fee is the absolute notional value (price times quantity) multiplied by the rate. At the entry tier, the rate is 0.0400% taker and 0.0125% maker.
Source: Polymarket docs: perps fees (read 2026-09-25).
At $1 billion of 30-day volume, the rate is 0.0200% taker and -0.0050% maker, which is a rebate to the maker.
Source: Polymarket docs: perps fees (read 2026-09-25).
Funding mechanics
Funding is paid every hour. The hourly rate is one eighth of an 8-hour rate, clamped to ±4% per hour.
Source: Polymarket docs: perps funding, Polymarket perps API: instruments (read 2026-09-25).
Leverage and margin
The FAQ states up to 20x for crypto, SP500, oil, gold and silver, and up to 10x for other real-world assets.
Source: Polymarket docs: perps FAQ (read 2026-09-25).
On 2026-09-25, the instruments API showed 50x on BTC, ETH, SP500 and NAS100. The FAQ and the API do not agree.
Source: Polymarket perps API: instruments (read 2026-09-25).
Maintenance margin is the notional value times a rate of 0.5 divided by the maximum leverage of the market.
Source: Polymarket docs: perps margin (read 2026-09-25).
Available markets
On 2026-09-25, the instruments API listed 89 perps: 40 crypto, 39 equity, 6 index and 4 commodity markets.
Source: Polymarket perps API: instruments (read 2026-09-25).
Of the 89 markets, 64 showed a 10x cap, 8 showed 20x, 9 showed 5x, 4 showed 3x and 4 showed 50x.
Source: Polymarket perps API: instruments (read 2026-09-25).
API and documentation
The perps REST API base URL is api.perpetuals.polymarket.com/v1. The instruments list needs no key.
Source: Polymarket docs: perps trading API, Polymarket perps API: instruments (read 2026-09-25).
Measured cost
Polymarket publishes a perps market-data API. The PerpFinder cost engine does not read the Polymarket book, so no measured spread or price impact exists.
Polymarket against Hyperliquid and Binance
| Term | Polymarket | Hyperliquid | Binance |
|---|---|---|---|
| Entry-tier fee | 0.0400% taker, 0.0125% maker (entry tier) source | 0.045% taker, 0.015% maker (tier 0) source | 0.050% taker, 0.020% maker (regular user) source |
| Maximum leverage | 50x on BTC, ETH, SP500, NAS100 (API); FAQ says 20x source | 40x on BTC source | 150x on BTCUSDT (smallest bracket) source |
| Funding | Every hour, capped at ±4% per hour source | Every hour source | Every 8 hours on BTCUSDT source |
| Custody | Custody and settlement on Polygon source | Not in the sources read | Not in the sources read |
| Access | No orders from the US, Canada or listed sanctioned regions source | Not for the US, Ontario or sanctioned regions source | Not in the sources read |
Each cell links its own source. A cell without a source shows that the pages PerpFinder read do not state the value.
Risks and open questions
Leverage increases losses as well as gains. A small price move against a leveraged position can cause liquidation and the loss of the margin.
- The perps docs name no operating company and no regulator or license for the perps exchange.
- The FAQ and the instruments API give different leverage caps. PerpFinder shows both values.
Terms used on this page
- Funding rate
- A funding rate is the periodic payment between long and short positions that keeps a perpetual futures price near its index price. When the rate is positive, longs pay shorts.
- Total trading cost (all-in cost)
- Total trading cost (all-in cost) is the selected-side cost of one order at a given size: the fee plus half of the spread plus the price impact, in bps and USD.
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Risk Warning: Trading perpetual futures involves substantial risk of loss and is not suitable for all investors. Past performance does not guarantee future results. Only trade with funds you can afford to lose.