The early-access feature uses automatic USDG loans at 50% initial loan-to-value, with non-USDG deposits capped at $20,000 per account.

The dollar-settled contracts have no expiry, a 100-SEI minimum order and funding calculated every eight hours.

Trading is scheduled for 10 a.m. ET on Oct. 10. User deposits are separate from the house-side pool, which starts at zero and grows from traders’ losses.

The WSL HYPE worksheet pairs perpetuals with reference prices across commodities, indexes, equities, currencies and crypto.

Exchanges must give position holders five calendar days' notice and a chance to exit, while leaving other material contract terms unchanged.

Robinhood's in-app perpetual futures will be offered by its own futures commission merchant through Bitstamp. LIT is down 22% over seven days.

The eight-contract lineup offers no-expiry trading through Robinhood Derivatives and Bitstamp, with broader access planned in the coming months.

Traders can use purchased tokens as collateral for short perpetual positions. The venue is waiving spot trading fees for the first 30 days.

LIT rose 13% to $4.21 and has doubled in 30 days as traders position for a U.S. perpetuals opening that Lighter has not applied for. Robinhood order flow now supplies 17% of the exchange's daily volume, against 12% on a 30-day basis, while perp DEX volume across the sector fell 30% over seven days.

The world's largest derivatives exchange operator said Wednesday it will sue the CFTC over the agency's approval of Kalshi's bitcoin perpetual futures, arguing the contracts should be classified as swaps under the Dodd-Frank Act.