Compare the Best Perpetual Futures (Perps) Prop Firms of 2026

A perps prop firm offers trading programs that let traders access perpetual futures under the firm's rules. Traders typically complete an evaluation before becoming eligible for a funded-stage account and potential payouts. Trading may remain simulated, even when prices come from live markets.

Perpetual futures, commonly called perps, are derivatives that let traders take long or short exposure to a market without owning the underlying asset. Unlike traditional futures, they have no scheduled expiry date. Most use funding payments to help keep the contract price aligned with the market it tracks.

Crypto perps are perpetual futures contracts linked to cryptocurrencies such as Bitcoin and Ethereum. A Bitcoin perp, for example, gives traders exposure to BTC price movements without buying the cryptocurrency itself. These contracts commonly involve leverage, margin requirements, and funding payments.

Traditional futures have scheduled expiry dates, so traders maintaining a position over time may need to roll into a later contract. Perpetual contracts have no scheduled expiry and typically use funding payments to keep prices aligned with the underlying market. Both can involve leverage, but their trading mechanics and holding costs differ.

Funding rates determine periodic payments between traders holding long and short perpetual futures positions. When funding is positive, longs generally pay shorts; when negative, shorts pay longs. In a prop account, whether these payments affect your P/L or drawdown depends on how the firm applies funding within its trading environment.

The main difference is the instrument being offered. Perps prop firms provide programs based on perpetual futures, while other crypto prop firms may offer cryptocurrency CFDs instead. Both provide exposure to crypto prices, but their contract structures, holding costs, platforms, and trading rules can differ. Some firms offer both, so the specific program matters more than the firm's category.

No. A perp DEX is a decentralised exchange where traders typically open perpetual futures positions using their own collateral. A perps prop firm offers evaluation and funded-stage programs under its own trading rules. These accounts may use prices from a decentralised exchange without placing actual trades on it.

Perpetual futures prop accounts can be simulated at both the evaluation and funded stages. Some programs use live-market pricing without executing the trader's orders on an exchange. Depending on the firm's structure, traders may still qualify for real payouts based on their simulated performance.

Platform availability depends on the firm and its trading programs. Some use proprietary terminals with pricing from perpetual futures markets, while others may offer different setups. For example, E8 Perpetuals uses E8 Terminal with Hyperliquid market data in a simulated environment. The supported instruments and execution model are important distinctions when comparing platforms.

Traders who meet the firm's funded-stage requirements may qualify for payouts based on eligible trading profits. Profit splits, payout frequency, minimum withdrawal amounts, and other conditions vary between programs. A simulated funded-stage account can still offer real payouts without involving live exchange execution.

Yes. Discounts and promotional codes are available for selected perpetual futures challenges through Prop Firm Match. Offers can change, so availability and eligibility depend on the specific firm and program. Check the current offer terms before purchasing.