ADA-PERPCrypto · Layer 1Trade Cardano (ADA) Perpetual Futures
Go long or short on Cardano with up to 100x leverage. No KYC, no sign-up: connect your wallet and trade 24/7.
- No KYC
- No sign-up
- Self-custody
- Up to 100x leverage
- Mark price
- 0.19367
- 24h high
- 0.19439
- 24h low
- 0.19187
- 24h volume
- 527.5K USDT
Cardano is a proof-of-stake blockchain launched in 2017, founded by Charles Hoskinson, who was also an early Ethereum co-founder. Its development is led by Input Output, the engineering company formerly called IOHK, together with the Cardano Foundation and EMURGO. ADA is the native token, used for fees, staking and governance.
Cardano is known for a research-driven approach, with its protocols described in peer-reviewed academic papers before implementation. Its consensus protocol, Ouroboros, selects block producers based on the ADA delegated to stake pools, and holders can delegate without locking their tokens. Development has proceeded in named phases: smart contracts arrived with the Alonzo upgrade in 2021, and later upgrades introduced on-chain governance in which ADA holders vote on proposals and treasury spending. Total supply is capped at 45 billion ADA, with new tokens released from reserves as staking rewards.
Cardano supports decentralized finance, tokens and identity projects, though its ecosystem is smaller than Ethereum's. Traders follow ADA for its large, long-standing community and as one of the established alternative smart-contract platforms.
ADA's price reacts to Cardano's development milestones and upgrades, which have historically drawn attention before and after their release. Growth, or the lack of it, in decentralized finance activity, stablecoin availability and developer adoption on the network affects how traders judge its competitive position against other smart-contract chains.
Governance decisions, including how the on-chain treasury is spent, and commentary from its founder can influence sentiment. Interest in exchange-traded products and regulatory treatment of altcoins also play a part. As a large altcoin, ADA tends to move with the broader crypto market, often with larger swings than bitcoin.
The ADA perpetual is a futures contract on the price of Cardano with no expiry date. You never own Cardano itself: you go long if you expect the price to rise or short if you expect it to fall, and settle profit and loss in USDT.
You choose your leverage, up to 100x. Margin is cross: your whole perpetual balance backs every open position. Positions are valued at a mark price taken from market data, which can differ from the last trade, and an order more than 20% away from the mark price is rejected.
- 1Connect a wallet. Connect MetaMask, or log in with email or Google, and sign the login message.
- 2Deposit USDT. Deposit USDT and move it to your perpetual account to use as margin.
- 3Choose long or short and your leverage. Open the ADA market, pick a direction and leverage, and place a market or limit order.
- 4Manage the position. Set a take-profit or stop-loss, add margin, or close the position whenever you like.
| Topic | Max Orion | Centralized exchange |
|---|---|---|
| Sign-up | No KYC: connect a wallet and sign a message | Email, password and identity checks |
| Your account | Your wallet address is your account | A username held by the exchange |
| Orders | Every order is signed by your wallet | Orders sent under a logged-in session |
| Hours | Crypto, gold and oil, 24/7 | Commodities often follow market hours |
Leverage multiplies losses as well as gains. If the Cardano price moves against your position far enough that your perpetual balance, including unrealized losses, falls below the maintenance margin, positions are closed automatically at the prevailing price and you can lose your whole balance. A stop-loss becomes a market order when triggered and is not guaranteed to fill at its price. Only trade with money you can afford to lose. Cardano is typically more volatile than bitcoin and ether, as is common for established altcoins.
Frequently asked questions
A ADA perpetual is a futures contract on the price of Cardano with no expiry date. You go long if you expect the price to rise or short if you expect it to fall, post margin in USDT, and keep the position open for as long as your margin covers it.
You can trade Cardano perpetuals with up to 100x leverage. The higher the leverage, the smaller the price move against you that liquidates the position.
No. There is no KYC and no sign-up form. You connect a wallet and sign a message to log in — self-custody wallet sign-in, with no password — then deposit USDT to start trading.
Every market settles in USDT, with cross margin: your whole perpetual balance backs all of your open positions, so a profit on one adds margin to the others and a loss on one reduces the margin left for all of them.
A perpetual has no expiry, so a periodic funding payment between longs and shorts keeps its price close to the underlying market. When the perpetual trades above the underlying, longs pay shorts; when it trades below, shorts pay longs.
A maker order, which waits in the order book, pays 0.02% of its value. A taker order, which fills immediately, pays 0.06%.
Leverage multiplies losses as well as gains. If the price moves against your position far enough that your margin no longer covers it, the position is liquidated and the margin is lost. Only trade with money you can afford to lose.
