Perpetual futures, venue by venue — starting with the ones that are actually regulated

Perpetuals Guide covers where and how to trade perpetual futures on centralized exchanges. Since 2025–26, regulated perps exist on both sides of the Atlantic: EU venues under real MiFID licences, and the first CFTC-approved perpetuals in the US — capped leverage, real regulators, actual investor protections. Almost nobody reviews them. We do.

EU-regulated venues (MiFID)

Venues offering perpetual futures through an EU-regulated (MiFID) entity. Each review states exactly which entity you trade with, the leverage cap, and what the licence does and does not protect.

US-regulated venues (CFTC)

The first CFTC-regulated perpetuals launched in 2025–26 — DCM-listed, FCM-margined, US persons only. Kraken and Coinbase also run US products, covered inside their reviews.

Start with the background: regulated vs offshore perp exchanges, then how perpetual futures actually work and the legal rulebooks for the EU and the US.

Offshore venues: covered, not promoted

The offshore exchanges where most perp volume actually trades get the same editorial treatment: fees, restrictions, and risks, stated as facts. We do not carry referral links for venues that are not licensed to serve European retail traders, and we never explain how to get around a venue's own geo-restrictions. Our methodology explains where that line sits and why.

What this site is

An independent editorial project by the team behind PerpDEX Guide (decentralized perp venues). Same rules here: every fee checked against official documentation, every restriction dated, no invented hands-on claims. Read about for how the site is funded.