Where can you trade a Meta perpetual, and what does it cost to hold?

01Where a Meta perpetual trades and which venue to pick

If you already use the Binance app, the simplest route is the Perpetuals tab inside Binance Wallet. Stock pairs there settle in USD1 or USDT, and some companies are listed in both currencies, with different volume in each. Open the Stock group or search META — or look at the live table below — to see which Meta pair is listed and in which currency. The wallet is the product you use; execution and the order book come from Binance's partner, the Aster protocol, which is why the screen says "Provided by Aster".

The second route is Hyperliquid, where the Meta market is called xyz:META. It is not run by Hyperliquid itself — another team, trade.xyz, put the market there, and they choose the price source and the leverage cap. You pay in USDC, and funding there is charged every hour.

Binance Futures also lists US stock perpetuals, so check whether Meta is in that list and what its funding interval and leverage cap are in the contract specification. All of it sits side by side, with the numbers refreshed from the venues' APIs, in the table below.

Read the 24-hour volume column first, because volume tells you how easily a market order fills near the price you see. If the same company shows up as both a USD1 and a USDT pair, pick the busier one. The contract follows Meta's share price, but the number on your screen comes from the venue's own price source, so it can sit a little away from the last price on the US market — especially when that market is closed. And you are not a shareholder either way: the difference between holding a tokenized share and trading a contract on it is explained in tokenized stock vs futures.

02What it costs to hold a Meta position: funding in money

On a perpetual there is no expiry date, so instead of a settlement the two sides of the market pay each other a small amount at fixed times. That payment is called funding: when it is positive, longs pay shorts; when it is negative, shorts pay longs. The exchange does not keep it. The full mechanics are in what funding is and when you pay it; here is how to turn the rate into money on a Meta trade.

Funding is charged on the size of your position, not on your margin. Say the rate is 0.01% every 8 hours — that is an illustrative number, not today's. On a 500 USDT position that is 0.05 USDT per payment, three payments a day, so about 0.15 USDT a day and around 4.5 USDT over a month. A week is roughly a quarter of that, so divide the monthly figure by four: a little over 1 USDT. Read today's real rate in the funding table below, and remember it changes at every settlement and can pay you instead of costing you.

The interval matters as much as the rate. Funding in the wallet tab is paid every 8, 4 or 1 hours depending on the contract, so look at the payment time on the pair page before you hold overnight; on Hyperliquid it is hourly, and an hourly rate has to be multiplied by eight before you compare it with an 8-hour one. How to compare a 1-hour funding rate with an 8-hour one does that arithmetic step by step.

Funding is not your only cost, just the one that grows with time. Stock and commodity contracts in the wallet tab are charged 0.0125% on a taker order, so entering and exiting a 500 USDT position with market orders costs about 0.13 USDT in total; the maker fee for these pairs is shown in the app, so check it there before you plan around limit orders. Hyperliquid has its own fee schedule, set out in Hyperliquid fees explained, and xyz:META sits alongside the other markets trade.xyz has put on Hyperliquid, which you can browse in the live Hyperliquid market table. If you are in and out the same day, fees and funding together are usually a fraction of a percent of your position — the price move is what decides your result.

03Leverage, weekends and earnings days: how big a position is safe

The leverage badge sits next to the pair name in the app, and if Meta is listed in two currencies the caps can differ between them, so check it there rather than assuming. Whatever the cap is, the number you choose is the thing that decides how quickly a bad day ends your trade. At 20x, a move of around 5% against you eats your margin — and the exchange usually closes the trade a bit before that, because fees and the maintenance margin come out first. A single stock can travel that far in one session after an earnings report.

At 5x, a 500 USDT position needs 100 USDT of margin. If Meta moves 2% against you, that is about 10 USDT — one tenth of the money you put in. Painful, not a wipeout. If you are unsure what number to pick, what leverage a beginner should use walks through the trade-off, and the liquidation calculator shows where the exchange would step in.

The other thing to plan for is the clock. The Meta perpetual trades 24/7, including weekends, while the shares themselves only change hands during the US session — so outside those hours the contract price moves on expectations and on whatever trading is around, and it can jump when the underlying market reopens. Why stock futures on crypto exchanges trade at night and on weekends covers that in detail. The practical version is simple: check Meta's earnings date before holding a position over it, keep the size small if you will be asleep, and put a stop-loss on the trade rather than planning to watch the screen.

04Opening a first small Meta position step by step

If you have a verified Binance account, the fastest path is the wallet. You can open Binance Wallet from inside the Binance app, create the keyless wallet in a minute, and back it up before anything else — without a backup the Perpetuals tab stays locked. There is no 12-word seed phrase to copy down here; backup means Quick Backup with biometrics, iCloud or Google Drive with a recovery password, or a QR code, and if you lose that recovery password and the device, nobody can restore the wallet for you.

1. Fund the wallet

   Move USDT or USD1 from your Binance account into the wallet, matching the currency the Meta pair settles in. For a 500 USDT position at 5x you need 100 USDT of margin plus a little buffer, so 120 USDT is a comfortable starting balance.

2. Find the pair

   Open the Perpetuals tab, use the Stock group or search for META, and see which pair comes up and whether it settles in USD1 or USDT. If both are listed, compare their 24-hour volume and take the busier one. The max leverage badge sits right next to the pair name.

3. Set leverage and margin mode

   Choose 5x rather than the maximum, and use isolated margin so the trade can only ever cost you the margin you assigned to it.

4. Size the trade honestly

   Type the position size, not the margin. The order window shows the minimum size for that pair — check it there, because it decides how small your first trade can be. A very small position is still real money, but it lets you see how the order, the funding time and the stop behave before you size up.

5. Add a stop-loss and a target before you confirm

   Decide the price at which you accept you were wrong and the price at which you are happy to take the profit, and set both when you open the trade.

The same order window is described step by step, with gold as the example, in how to open a trade in Binance Wallet. If you would rather trade Meta from a self-custody wallet with no Binance account at all, the xyz:META market is reachable on Hyperliquid — you connect a wallet and deposit USDC instead of signing up. Either way, check that the venue is available where you live: Aster's terms exclude residents of, and people located in, Russia, Ukraine, the USA, Canada, the United Kingdom, China, North Korea, Cuba, Iran, Venezuela and Syria, and Hyperliquid blocks access from certain jurisdictions too.

Meta is one of dozens of stock perpetuals that now live next to crypto pairs — the broader picture is in stocks on a crypto exchange, and neighbouring single-name pages cover Nvidia, Tesla and Google with the same venue and cost breakdown.