Where can you trade SpaceX perpetual futures, and what does it cost to hold?

01Where the SpaceX perpetual trades, and which one to pick

Two of the four contracts sit inside Binance Wallet, in the Perpetuals tab. One pair settles in USD1 — a dollar stablecoin, so your profit and loss are counted in dollars just like USDT — and goes up to 20x; the other, SPCXUSDT, settles in USDT and goes up to 50x. The leverage badge is shown next to each pair in the app, and both trade seven days a week. Execution and liquidity in that tab come from Binance's partner, the Aster order book, while you stay in your own wallet with your own balance.

The third contract is xyz:SPCX on Hyperliquid. It is a HIP-3 market deployed by trade.xyz, not by Hyperliquid itself: trade.xyz chooses the price source and the leverage cap, which is 20x here, and collateral is USDC. Funding there is paid every hour — the same idea as elsewhere, just sliced thinner. If you would rather trade on-chain with USDC and no exchange registration, you can go to Hyperliquid and connect a wallet; check the market's trading hours and current hourly rate on its own page, or in our live Hyperliquid market table, before you plan a weekend trade.

The fourth is SPCXUSDT on Binance Futures, settled in USDT, trading seven days a week as well. Funding there is usually every 8 hours, but the contract page shows the interval for this pair — check it there. Each pair shows its own 24-hour volume on its own screen: compare the two wallet pairs there, because the same company can turn over very different amounts in USD1 and in USDT, and take the busier one.

The table below lists every venue where a SpaceX perpetual trades, with the live figures the site pulls from the venues themselves. Read it in three columns. The leverage number is the ceiling the venue allows, not a size suggestion — for a 500 USDT position you only need 5x, so every one of these venues is wide enough. The volume column tells you how busy that particular contract is right now, and the busier pair usually gives you a fill closer to the price you see. The fee column is the cost of your entry and exit: 0.0125% on a 500 USDT position is about 6 cents each way.

One point of history, because it explains why this contract exists at all: Binance first listed SpaceX as a pre-IPO perpetual on 21 May 2026, the company listed on Nasdaq on 12 June 2026 at $135 a share, and the contract simply carried on as a normal stock perpetual without a break. If pre-IPO names are what brought you here, the pre-IPO perpetuals guide covers OpenAI, Anthropic and the rest. And whichever contract you pick, you are trading a price, not a share certificate — the difference from owning a tokenized stock is a page of its own.

02What it costs to hold a SpaceX position

Funding is not the exchange's fee at all — it is a payment between the traders holding longs and the traders holding shorts, and on a stock perpetual it is what keeps the contract price close to the real share price. Only a trader holding the position at the moment of settlement pays or receives it. The mechanics are explained in what funding is and when you pay it.

The arithmetic is simple: funding = your position size × the rate at that moment. Say you put in 100 USDT of your own money at 5x, so the position is 500 USDT (illustrative numbers). If the rate on your pair is 0.01% and it is paid three times a day, each payment is 0.05 USDT, so about 0.15 USDT a day. On Hyperliquid the rate is quoted per hour, so a similar yearly cost looks like a much smaller number on the screen — the way to compare them is in 1-hour versus 8-hour funding.

Here are the current funding rates on the SpaceX contracts, side by side. Two things to look at: the sign and the size. A plus sign means longs are paying shorts, a minus sign means the opposite, so holding can be a small credit rather than a cost. To turn a rate into money for a 500 USDT position, multiply: 0.01% of 500 USDT is 0.05 USDT per payment, and you then multiply by how many payments happen in the time you plan to hold — three a day on an 8-hour contract, twenty-four on an hourly one.

Put the rate you actually see into the calculator with your own position size and holding time, and you get the number in USDT rather than in percent.

Rates move all the time, spike around news and can flip sign, so a figure you read today tells you little about next month. Before you open anything, look at the rate and the sign on the pair's own screen in the app, because that is the number your position will actually be charged at the next settlement.

On top of that comes the trading fee. Stock and commodity contracts in the Binance Wallet Perpetuals tab cost 0.0125% when your order fills straight away — about 6 cents each way on a 500 USDT position, so roughly 0.13 USDT for the round trip. The maker fee for these pairs is shown in the fee screen in the app. Hyperliquid has its own schedule, which you can read in our Hyperliquid fees guide. Either way, the entry and exit fee on a few hundred USDT is small next to how far the share price itself can move in a week — that move is what really decides your result.

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

50x on SPCXUSDT is the maximum the venue allows, not a recommendation. At 50x, a 2% move against you is already the whole margin, and a single company headline can do 2% in a minute. At 5x the same 2% move costs you 10% of your margin and you keep room to think. If you want to see how the numbers shift between 3x, 5x and 20x, that is laid out in what leverage a beginner should use.

The wallet pairs and the Binance Futures contract keep trading at the weekend, but the underlying stock market does not — the main Nasdaq session is 9:30 to 16:00 New York time on weekdays. On Saturday and Sunday the perpetual keeps printing prices on thinner trading, and when the stock market reopens the price can jump to catch up with whatever happened in between. That gap behaviour is covered in how stock futures trade at night and on weekends. Before holding a SpaceX position over several days, check the company's own calendar for results or announcements, and keep a stop-loss on the trade rather than planning to watch the screen.

If the order window lets you choose isolated margin, pick it: the loss then stays inside the money you assigned to that one trade. Check in the app whether the position can pull extra margin from your balance by itself, and turn that off if you can. Treat the first position as tuition — you can start far smaller than 500 USDT to feel the mechanics first, and the smallest order the pair accepts is shown on its own screen.

04Opening a first small SpaceX position, step by step

1. Open the wallet and back it up

   Binance Wallet lives inside the Binance app, and only a verified Binance user can create one. It is keyless, so there is no 12-word seed — you back it up with biometrics, a cloud backup with a recovery password, or a QR code. Without a backup, the Perpetuals tab stays closed to you.

2. Put the right margin currency in it

   SPCXUSD1 is settled in the USD1 stablecoin, SPCXUSDT in USDT. Check in the app which asset the pair you chose requires before you try to place the order.

3. Find the pair

   In the Perpetuals tab, search SPCX or open the Stock group. You will see both pairs with their leverage badges — 20x on SPCXUSD1, 50x on SPCXUSDT. Compare the 24-hour volume shown on each pair's screen and take the busier one.

4. Set leverage and size before you tap buy

   Choose a low leverage and type the size so the position is a few hundred USDT, not a few thousand. If the order window offers isolated margin, select it, and check whether the app can top up that margin automatically. The window shows the margin it will take from you, and the pair's screen shows the smallest order it accepts.

5. Attach a stop-loss and a target

   Decide the price at which the idea is wrong and set the stop there, in the same order window. Then you can close the app. The full walkthrough with screens is in how to open a trade in Binance Wallet.

When you want to see the live price, volume, funding rate and order limits for both pairs side by side, open Binance Wallet and tap into the Perpetuals tab — reading those two screens takes a minute and tells you more than any article. Remember that the wallet route and the on-chain route are separate: different balances, different rules, and signing up in one place does nothing for the other.

The Perpetuals tab is open to Binance accounts in much of the world, but Aster's terms exclude residents of several countries, including Russia, Ukraine, the USA, Canada, the UK, China, North Korea, Cuba, Iran, Venezuela and Syria. Check in the app whether it opens for you.