Introduction

What is perp.fun?

perp.fun is a simplified interface for trading perpetuals, built on top of the Perennial protocol. It’s designed to strip the complexity out of trading — no cluttered interface, no limit orders, stop losses, or advanced settings. Just long or short bluechips with a few taps.

Your trades are routed through Perennial’s purpose-built perps rollup, giving you near-zero fees, fast execution, and full control at all times.


Features

  • Gasless trading – Powered by Perennial’s rollup, there are no gas fees when placing trades.

  • BTC, ETH, SOL markets – Trade up to 100x leverage on major bluechips.

  • Grow your flowers – Each trade plants a seedling that blooms as your position thrives — or wilts when you’re close to liquidation.


Signups & Wallets

perp.fun uses embedded wallets via Privy, so you can log in with X (Twitter), Discord, email, or a traditional wallet.

That means:

  • You don’t need to connect a wallet up front — it’s created for you in the background.

  • You’re still in full control of your account and funds.

  • This is different from app.perennial.finance, which uses your connected wallet directly.

How it works: perp.fun vs app.perennial.finance

perp.fun → Log in with X, Discord, wallet → Privy embedded wallet → Trades on Perennial protocol app.perennial.finance → Connect wallet directly → Trades on Perennial protocol


Referrals

Every user gets a unique referral code. Share it with friends to earn 20% of the Petals they generate through trading. Find your code in the top-right menu — copy the one auto-generated for you, or make your own.


Under the Hood

perp.fun runs entirely on top of the Perennial protocol — a custom-built rollup for perps, using an intent-based execution model with verified solvers and a derivatives AMM under the hood. Trades are gasless, settled instantly, and never require handing over custody.

Last updated