perpetuals

Disclosure: It is not financial advice
A familiar ticker can appear in more than one product. That does not mean you are holding the same thing.
On BiyaPay, you can buy a US stock, and you can also trade an equity perpetual contract that tracks that stock's price. The screen may look related. The holding is not.
I would separate those products before deciding which one matches the intention. This is not a recommendation to use either one. It is a reading of what official pages actually say you hold, and what they do not say.
What official language says about the share
Official product language on BiyaPay describes US and Hong Kong stock trading as real stocks, with real ownership and real dividends, plus 0 commission, instant settlement, and fast fills.
I read that as a description of the stock product, not of every product that happens to show a similar name. A share is presented as ownership of the equity. A contract that tracks the price is not described in those terms.
On dividends, the Help Center is more specific. Purchased US and Hong Kong stocks may receive dividends. Whether a dividend is paid depends on whether the company pays one and whether you meet that company's conditions.
If you hold the stock on the ex-dividend date, dividends are usually paid within 1 to 30 working days after that date, with the timing and amount set by the company's policy and announcement.
I did not find a separate official page that explains how voting is exercised on BiyaPay. Official language does confirm ownership and dividends for the stock product. I would not invent a voting process that the pages do not describe.
The Help Center also says BiyaPay can currently trade all US stocks, including ETFs. The smallest whole-number unit is 1 share, and some stocks support fractional share trading.
What official language says about the equity perpetual
In official listing announcements, BiyaPay describes these contracts in the same pattern: they track the price of the underlying common stock. NVDAUSDT tracks Nvidia (Nasdaq: NVDA). GOOGLUSDT tracks Alphabet (Nasdaq: GOOGL). METAUSDT tracks Meta Platforms (Nasdaq: META).
Later listings use the same wording for other US-listed names, including Netflix, Costco, and Adobe.
That is price tracking. It is not the same as the "real ownership" and "real dividends" language used for the stock product.
I did not find an official statement that a perpetual holder receives the cash dividend of the underlying share, or that the contract carries shareholder rights. If a page does not say it, I would not assume it.
Official risk language on those announcements is blunt. Prices can be volatile, you may lose the amount you put in, and in contract trading, adverse moves can liquidate all of your margin balance.
The stock has defined sessions. The contract's hours are less clearly stated
US stock trading is not an always-open share market. The Help Center says BiyaPay currently supports night trading, pre-market, intraday, and after-hours sessions, and it publishes those windows in Eastern Time:
Night trading: 20:00 to 04:00Pre-market trading: 04:00 to 09:30Intraday trading: 09:30 to 16:00After-hours trading: 16:00 to 20:00
The same page also maps those sessions to Beijing time for daylight saving and standard time. Periods other than intraday trading are called extended trading hours. I would still verify the session on the order ticket, especially around holidays or early closes.
For equity perpetual contracts, I did not find a dedicated official trading-hours page. A separate Help Center article says cryptocurrency contracts can be traded 24 hours a day, but that article is titled for cryptocurrency contracts, not for TradFi equity pairs.
I would not copy that 24-hour statement onto NVDAUSDT or GOOGLUSDT without a page that says so. The practical step is to check the hours, if any, on the contract page itself.
Perpetual contracts are officially described as having no expiration or delivery date. That is about tenor, not a substitute for a trading-hours schedule.
Fees: zero commission and zero trading fees are not the same thing
For US stocks, official materials say the commission item is US$0. That does not mean every cost is zero.
An official fee explanation that cites the Biya Fee Schedule says the platform fee is US$0.005 per share, with a minimum of US$0.99 per order and a maximum of 1 percent of the transaction value. External institution fees, trading activity fees, CAT fees, settlement-related fees, and sell-order charges may also apply.
Fractional orders of less than 1 whole share follow a separate rule: a 1 percent platform fee on transaction value, capped at US$1, with no commission or third-party fees. I would read the fee schedule and the order preview before sending a stock order, especially on a smaller ticket, where the minimum fee is a larger share of the cost.
For TradFi perpetual contracts, BiyaPay announced a 0 Trading Fee Program. During the campaign, maker and taker trading fees on all TradFi perpetual pairs are 0 percent.
The campaign is described as effective immediately and valid long-term, but it applies only to those trading fees. Funding fees and other applicable charges remain subject to the platform's existing rules, and BiyaPay reserves the right to modify, adjust, suspend, or terminate the campaign.
I would not treat 0 percent trading fees as zero cost. Funding is a separate charge. Official contract help describes a funding rate as a fee periodically exchanged between long and short holders, used to keep a perpetual closer to the underlying price.
The TradFi announcement confirms that funding still follows existing rules, but I did not find a TradFi-specific official interval for pairs such as NVDAUSDT or GOOGLUSDT. I would check the funding rate and settlement time on the contract page rather than assume a number.
Leverage and liquidation belong with the contract
A cash purchase of the share and a leveraged contract are different risk shapes.
On the equity perpetual, official listing language already says that in an adverse move, all of your margin balance may be liquidated. That is the point I would not soften. Leverage can make a price swing larger in both directions.
Official contract help says maximum leverage varies by contract and should be checked on the trading page. I did not find an official maximum leverage figure specifically for TradFi equity pairs, so I will not invent one or apply crypto examples such as 100x to these contracts.
There is also a separate stock-margin product that should not be mixed in by accident. The Help Center says a BiyaPay stock account can support underlying stocks and margin trading, and that financing and short selling support up to 4x leverage.
Forced liquidation on the stock side is described for leveraged trading when remaining liquidity is 0, or 0 percent. A cash holding of the share is not the same as a margin stock position, and neither is the same as an equity perpetual.
How I would match the product to the intention
If the intention is to own the company, I would use the stock product and accept its sessions, settlement language, and the fee lines that still apply after 0 commission. That is the product official pages describe with ownership and dividends.
If the intention is to trade the price, with no claim to the share itself, the equity perpetual is the product official pages describe as tracking that price. I would then treat funding, leverage, and liquidation as part of the design, not as fine print to reread later.
I would not hold the contract as a stand-in for the share just because the ticker looks familiar.
A calmer way to choose
The useful split is simple. Official language about real stocks, ownership, and dividends belongs to the share. Official language about tracking the price, trading fees, funding, and margin liquidation belongs to the equity perpetual.
If those columns are kept apart, the choice gets clearer. If they are collapsed into one ticker, it is easy to expect shareholder treatment from a contract, or contract-style access from a share.
This is not a recommendation to buy, sell, or hold any stock or any perpetual contract, and it is not financial advice. Official product descriptions, fees, hours, and risk rules can change. I would re-read the latest product pages, fee schedule, and risk language before acting.
#BiyaPay #USStocks #Perpetuals #TradFi

Regulierte SEI-Perpetual-Kontrakte sind jetzt handelbar – zum Start neben nur sechs weiteren Assets. $BTC
Neben SEI umfasste die erste Liste $BTC und$ETH sowie SOL, HYPE und ZEC. Das Netzwerk trat also durch dieselbe Tür ein wie die größten Coins – nicht als nachträgliche Ergänzung einer langen Liste.
Die Bedingungen wie angegeben: Hebel bis zu 5x, Handel rund um die Uhr an sieben Tagen die Woche, 30 Tage Gebührenbefreiung – über einen bei der CFTC registrierten Broker.

Das beliebteste Produkt im Kryptobereich sind Perpetual-Futures. Jahrelang bedeutete das eines: gehebelte Wetten auf Bitcoin, Ether und eine lange Liste von Altcoins. In diesem Oktober änderte sich die Geschichte fast unbemerkt. Der am schnellsten wachsende Bereich des Perpetual-Marktes dreht sich nicht mehr um Kryptopreise. Es geht um die Preise an der Wall Street.
Das Open Interest bei Perpetual-Futures auf reale Vermögenswerte (RWA-Perpetuals), also Aktien, Aktienindizes, Gold, Silber und Öl, ist laut Daten von CryptoRank mit Stand vom 26. Oktober auf einen Rekordwert von rund 19,8 Milliarden $ gestiegen. Das entspricht einem Plus von etwa 192 % gegenüber 6,7 Milliarden $ im Juni. Die monatlichen Momentaufnahmen desselben Datensatzes lesen sich wie eine Treppe: 4 Milliarden $ im Mai, 8,8 Milliarden $ im Juli, 9,9 Milliarden $ im August, 14 Milliarden $ im September und jetzt fast 20 Milliarden $.

🔥 TOP 10 PERP-CEXs — Wer dominiert den Markt für offene Kontrakte? 📊
Der Kryptomarkt dreht sich nicht nur um das Handelsvolumen! 👀
Das Open Interest (OI) gibt uns einen Eindruck davon, wie viele Derivatkontrakte am Markt noch offen sind und wie sie sich auf die Handelsplattformen verteilen.
🏆 Die 10 größten Plattformen nach Anteil am Open Interest:
🥇 1. Binance — 34 %
Mit großem Abstand vor der Konkurrenz an der Spitze. Laut den veröffentlichten Zahlen beträgt der Anteil fast ein Drittel des Marktes.