What is the current price of Perpetual Protocol?
The current price of Perpetual Protocol is $0.01965 with a 0.79% change in the last 24 hours.
Supply and ATH/ATL data provided by CoinGecko
Hyperliquid perpetuals only. One snapshot every 5 minutes, up to 20 returned price levels per side. Liquidity beyond those levels is unknown. This is not a liquidation heatmap or a fill estimate.
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Prices and notionals are USD-equivalent venue units, with USDC collateral. No currency conversion is applied. Notional = venue price × base-asset size. Contract specifications
Derivatives and mapped ecosystem data, with source timings and coverage.
Perpetual Protocol is a decentralized exchange for perpetual futures, contracts that let traders go long or short on an asset with leverage and no expiry date, and PERP is its governance and staking token. Its best-known version, Perp v2 "Curie", runs on Optimism and prices trades using Uniswap v3 pools of virtual tokens, so liquidity providers can supply concentrated liquidity to a derivatives market. It matters as one of the early on-chain perpetuals designs, with open-source contracts that anyone can study.
Perpetual Protocol lets users open leveraged long or short positions on crypto assets directly from a wallet. Traders deposit collateral into a vault, and the protocol tracks their positions in smart contracts rather than on a company's order book. Two groups use it:
The Curie contracts repository states that Perpetual Protocol Curie (v2) is deployed on Optimism mainnet, an Ethereum layer 2 network. The source for its developer documentation is published in the perp-docs repository.
The founding team is not named in the developer documents reviewed here, so this page does not list founders. The project's public repositories show the main stages of its history:
@perp/curie-contract package was first published in November 2021, which is consistent with Curie's launch around that time.Perpetual Protocol's X account now describes the team as the creator of Wilde Finance and Nekodex. The domain perp.com, which the project's GitHub organization lists as its website, currently presents "Perp.com", a product offering leveraged perpetual contracts on prediction-market probabilities, built on HyperEVM and in testnet early access, run under a separate X account. The relationship between that product and the PERP token is not documented on the pages reviewed here.
Curie is built from a set of contracts, each with a clear job:
Vault and CollateralManager Hold user collateral. The CollateralManager allows more than one collateral type.
ClearingHouse The main entry point for opening and closing positions and for adding or removing liquidity.
Virtual tokens and Uniswap v3 pools Each market uses a virtual base token and virtual quote token traded in a Uniswap v3 pool. Trades swap virtual tokens, so the pool acts as the pricing engine while real collateral stays in the Vault.
OrderBook and Exchange Track makers' liquidity ranges (called orders) and route swaps, including funding payments between longs and shorts.
InsuranceFund and oracles The insurance fund receives a share of fees to cover bad debt, and oracle contracts supply index prices used for funding and liquidations.
An on-chain read of the Ethereum token contract suggests a total supply of 150 million PERP.
Most perpetual exchanges use either an order book or a single pool that quotes trades against an oracle. Curie instead reuses Uniswap v3's concentrated-liquidity math with virtual tokens. This lets liquidity providers choose price ranges, earn fees and act as market makers for a leveraged product, similar to how they would on a spot DEX.
Perpetual Protocol is an application, not a blockchain. Compared with dYdX and Hyperliquid, which run order books on their own chains, Curie relies on AMM pools on an Ethereum layer 2. Compared with GMX, where traders trade against a shared liquidity pool at oracle prices, Curie's prices come from the pool itself, with oracles used for funding and risk checks.
Positions and collateral live in smart contracts on Optimism, which inherits security from Ethereum as a rollup. Liquidations, an insurance fund and oracle price checks protect the system against bad debt. The contract repositories carry a notice that, where documentation and deployed code differ, the production code prevails, so users should treat on-chain contracts as the final reference.
Perpetual Protocol is a well-documented example of on-chain perpetual futures built on an AMM design and deployed on a layer 2. For anyone comparing derivatives protocols, it shows the trade-offs of AMM-based pricing against the order-book designs that many newer venues use.
PERP trades on some centralized exchanges and on decentralized exchanges on Ethereum and the other chains where it is bridged. Check the contract address before trading on a DEX; the Ethereum address is 0xbc396689893d065f41bc2c6ecbee5e0085233447 (Etherscan).
PERP is an ERC-20 token, so it can be stored in Ethereum-compatible wallets such as MetaMask, or in a hardware wallet connected to one. Make sure the wallet is set to the correct network (Ethereum, Optimism, Arbitrum, BNB Chain or Gnosis) for the version you hold.
Track Perpetual Protocol live price, chart, market cap, and volume in real time. Practice mock trading and demo trading for Perpetual Protocol on CoinRithm before using real money.
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Read the complete paper trading guideThe current price of Perpetual Protocol is $0.01965 with a 0.79% change in the last 24 hours.
The daily trading volume is $2,288.34 representing a 27.95% change in the past 24 hours.
The market capitalization of Perpetual Protocol is $1,426,703, ranking #874 globally.
The fully diluted valuation (FDV) of Perpetual Protocol is $2,947,334, calculated assuming the maximum supply of 150,000,000 PERP is in circulation.
Circulating: 72,609,864. Total: 150,000,000. Max: 150,000,000.
In the last 24 hours, Perpetual Protocol traded between a low of $0.01902 and a high of $0.0202.
PERP/USDTTether USDT0.01965 USDT
Paragon had already halted its PAPER market and settled open positions at $0.026296 after Papertrade ruled out token transfers for now.
Holders who earned PAPER through trading losses can stake it for USDC distributions, but still have no date when they can transfer or sell their tokens.
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