Polymarket Perps
Polymarket's perpetual futures on crypto, stocks, indices and commodities; hybrid exchange with deposits settling on Polygon.
Security record: 4 incidents · 1 own fault · 2 refund pending- Hybrid exchange: off-chain matching, with custody and settlement on Polygon and periodic state commitments
- Perps on indices, commodities, crypto and stocks that trade 24/7
- Collateral is pUSD, deposited from your Polymarket wallet
- Fees start at 0.0125% maker and 0.04% taker, lower with 30-day volume
- Liquidity rewards: $75,000 per day in pUSD for qualifying makers
Seven criteria on a scale of 10, the fee and market numbers computed from the data. Compare it with other perp DEXs only. How we score
- Taker
- 0.04%
- Maker
- 0.0125%
- Volume a day
- $58M
- Open interest
- $109M
- Rewards 6.0
- No points; makers share $75K pUSD a day in liquidity rewards
- Taker fee 4.9
- No taker fee is a 10, 0.07% or more is a 1. A venue that earns from the spread tops out at 7.
- Volume 4.2
- Average a day: $5M is a 1, $5B is a 10, on a log scale. Volume past ten times open interest does not count.
- Safety 4.0
- Public since Sep 2026, no audit of the perps exchange
- Open interest 7.1
- $1M is a 1, $1B is a 10, on a log scale. Harder to farm than volume.
- Ease 10.0
- Funds from your Polymarket wallet, gasless transfers, stocks next to crypto
- Access 8.0
- No KYC, $10 minimum; closed to US, Canada and sanctioned places
- Open polymarket.com/perps with your Polymarket account
- Deposit pUSD from your Polymarket wallet into your Perps account
- Pick a market and place a limit or market order
- Withdraw pUSD back to your Polymarket wallet when done
- Perps Liquidity Rewards$75,000 pUSD per day across markets
Matching, margin and funding run off-chain; only deposits and withdrawals settle on Polygon. Perps keep trading when the underlying market is closed, so prices follow other feeds then, and positions can be liquidated or auto-deleveraged.
4 incidents · 1 own fault · 2 refund pending
Past incidents 3
Vendor script on polymarket.com drains wallets. A compromised third-party vendor's code put a malicious script on polymarket.com for some users and drained their wallets. Analysts counted at least 11 wallets; Polymarket removed the dependency, referred the case to law enforcement and pledged full refunds, without naming the vendor. Polymarket said it is refunding affected users in full; no source confirms the payouts were completed.
Partly own faultUsers lost $2.9M to $3.1MRefund promised
Sources: x.com, halborn.com, decrypt.co
Old internal top-up wallet key compromised. Polymarket Developers confirmed that the private key of a wallet used for internal top-up operations was compromised; about $700K was drained across 16 addresses. Polymarket said user funds and market resolution were safe and is moving to managed keys. Polymarket said user funds were not affected.
Own faultNo user losses
Sources: decrypt.co, forklog.com
Email-login accounts drained via auth provider flaw. Users who signed up by email reported their balances drained despite 2FA. Polymarket said on Discord a third-party authentication provider vulnerability caused it, was fixed, and it would contact affected users; it did not name the provider (users pointed to Magic Labs). Polymarket said only that it would contact impacted users; no compensation promise found.
Partly own faultRefund not stated
Sources: theblock.co, cointelegraph.com
From the project’s statements and security coverage. Own fault means the project’s code, servers or keys; third party means a vendor, registrar, oracle or issuer it relies on.
