KAS-PERPCrypto · Layer 1Trade Kaspa (KAS) Perpetual Futures
Go long or short on Kaspa 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
- 0.03353
- 24h high
- 0.03363
- 24h low
- 0.03249
- 24h volume
- 36.1K USDT
Kaspa is a proof-of-work cryptocurrency built to process transactions quickly without giving up the security model of mining. Instead of a single chain of blocks, Kaspa uses a blockDAG, a structure in which multiple blocks can be created in parallel and all are included rather than discarded as orphans. Its consensus protocol, GHOSTDAG, orders these parallel blocks, building on academic research by Yonatan Sompolinsky and colleagues.
The network launched in November 2021 as a fair launch, with no premine, presale or coins set aside for the team. It is mined with an algorithm called kHeavyHash, now mostly run on dedicated ASIC machines. In May 2025 the Crescendo hard fork raised block production from one block per second to ten, with block rewards reduced by the same factor so that the rate of new issuance stayed the same.
KAS is the native coin, used to pay transaction fees and earned by miners as block rewards. Its emission falls on a predetermined schedule, with the reward reduced smoothly each month so that it halves roughly once a year. Traders follow Kaspa as one of the most prominent proof-of-work projects outside Bitcoin.
KAS is shaped by mining economics and by technical progress. Miners receive new coins and often sell some to cover costs, so hash rate, the release of new ASIC hardware and the declining emission schedule affect supply pressure. Network upgrades, such as the move to higher block rates and work on smart contract capabilities, tend to draw attention.
Exchange listings have historically been an important factor, since KAS was absent from some major exchanges for a long time and new listings broadened access. Community enthusiasm, the narrative around proof-of-work and Bitcoin's direction, and broader crypto risk appetite also play large roles.
The KAS perpetual is a futures contract on the price of Kaspa with no expiry date. You never own Kaspa 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 KAS 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 Kaspa 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. KAS tends to be more volatile than Bitcoin and other large caps, with price swings typical of a mid-cap proof-of-work asset.
Frequently asked questions
A KAS perpetual is a futures contract on the price of Kaspa 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 Kaspa 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.
