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Online investment platform Webull (NASDAQ: BULL) will offer perpetual futures to eligible US customers from November. The first contracts will be on Bitcoin and other crypto assets.
The contracts will be listed on KalshiEX LLC, a CFTC-regulated Designated Contract Market (DCM), and cleared through Kalshi Klear LLC, a CFTC-regulated Derivatives Clearing Organisation (DCO). The rollout begins in November, and Webull expects broader availability before the end of the year. Further products will follow, subject to regulatory review and exchange listing requirements.
How Perpetual Futures Work
Perpetual futures, or "perps", are futures contracts with no fixed expiry date. Traders do not have to manage contract expirations or roll positions into new contracts. A periodic funding mechanism keeps the contract price aligned with the underlying asset. Positions stay open as long as margin requirements are met.
Positions are subject to periodic funding payments, and they are automatically liquidated if margin falls below maintenance requirements. Webull states that perpetual futures involve significant risk and are not suitable for all investors.
"Perpetual futures have become a significant part of global derivatives markets, with annual volume reaching more than $90 trillion in 2025. As this market continues to grow, we believe U.S. investors should have access to perpetual futures through a regulated platform they already know and trust, bringing a product with significant global adoption into the U.S. regulated futures market." - Anthony Denier, Group President and U.S. CEO, Webull
Kalshi's Perpetual Futures Range
Kalshi launched the first perpetual futures contracts on a US regulated exchange on 29 May 2026, starting with Bitcoin. LIQUIDITYFINDER covered the launch in its interview with Kalshi's Head of Institutional, Andy Ross. Kalshi has since added gold and silver perpetuals on 10 September and a US500 stock index perpetual on 6 October.
Access Through Existing Webull Futures Accounts
Webull customers will trade perpetual futures through their existing Webull Futures accounts, alongside other futures products. Stocks, options, crypto and prediction markets remain available on the wider Webull platform. At launch, perpetual futures are limited to eligible US customers approved for futures trading.
Webull first added futures and commodities trading in March 2024. Its futures are offered through Webull Futures LLC, a Futures Commission Merchant (FCM) registered with the CFTC and a member of the National Futures Association.
"As the U.S. market evolves to accommodate new derivatives products, bringing more activity into a regulated, onshore framework is an important step forward. We see an opportunity to combine the accessibility of a modern brokerage platform with the infrastructure and risk controls required for leveraged derivatives. That means giving users clear visibility into margin requirements, funding rates, leverage and liquidation levels, while providing seamless access to a broader range of markets through a single platform." - Tanmay Sheth, Managing Director of the FCM, Futures and Prediction Markets, Webull
Webull's platform also serves other financial firms. In July 2026 the company launched Webull Institutional for brokers, hedge funds and financial institutions. That launch followed FINRA's April 2026 approval of Webull Securities (US) LLC as a clearing broker.
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