What is a perps prop firm?
A prop firm that funds you to trade perpetual futures. You pay a one-time fee for an evaluation, pass it, then trade a funded account and keep most of the profit. Your downside is the fee, not your own trading capital.
How does it work, step by step?
Four steps: buy, pass, get funded, get paid.
- Buy an evaluation. A one-time fee for a simulated account, from $10 to about $2,000 depending on size and firm.
- Hit the target. Make the profit target without breaking the daily loss limit or max drawdown.
- Get funded. Pass KYC and trade a funded account. Some firms skip the evaluation with instant accounts.
- Take payouts. Request your share of the profit, 80% to 100% depending on the firm and plan, usually paid in USDC.
Which perps prop firms are there?
We track Vest, My Funded Perps and E8 Markets, with Tradeify Perps coming soon.
| Firm | Ways in | From | Split |
|---|---|---|---|
| Vest | 1-step, 2-step or instant | $10 | 80% to 95% |
| My Funded Perps | 1-step | $40, $28 with code FPF | 80%, 90% add-on |
| Tradeify Perps | Coming soon | - | - |
| E8 Markets | 1-step | $28 | 80% to 100% |
What can you trade?
Crypto at all four, like BTC, ETH and SOL. Most also offer perps on stocks, indices like the Nasdaq-100, commodities and FX. Crypto trades 24/7.
Is it real money?
The accounts are mostly simulated: you trade with the firm's numbers, not your own deposit. Payouts are real.
How is it different from a futures prop firm?
You trade perps instead of CME contracts like NQ: no expiry, funding instead of rollover, crypto open 24/7, and sizing in dollars instead of contracts. The rules look familiar, but at the perps firms we track the daily loss limit fails the account outright.
What are the risks?
You can lose the evaluation fee. Perps are leveraged and move fast, crypto trades through the night and weekends, and firms change their rules and prices often. Only buy what you can afford to lose.