BTC-PERP $— +—%ETH-PERP $— -—%SOL-PERP $— +—%CC-PERP $— +—%BTC-PERP $— +—%ETH-PERP $— -—%SOL-PERP $— +—%CC-PERP $— +—%FUNDING 8H —bpOPEN INTEREST $—
BTC-PERP $— +—%ETH-PERP $— -—%SOL-PERP $— +—%CC-PERP $— +—%BTC-PERP $— +—%ETH-PERP $— -—%SOL-PERP $— +—%CC-PERP $— +—%FUNDING 8H —bpOPEN INTEREST $—
Book is liveBuilt on Canton NetworkDaml-native contracts
Perpetual futures, private by architecture.
Metabasis is an institutional perpetual futures exchange settled on the Canton Network. Margin lock, position creation, and PnL settlement clear as one atomic Daml command - with sub-transaction privacy that keeps your book yours.
For institutions and professional desks. Full-KYC onboarding on every account.
Global participants
Desks in every timezone, one shared ledger.
New Yorkprop desk
Londonfund
Singaporemarket maker
Hong Kongprop desk
Zurichfund
Tokyomarket maker
New Yorkprop desk
Londonfund
Singaporemarket maker
Hong Kongprop desk
Zurichfund
Tokyomarket maker
New Yorkprop desk
Londonfund
Singaporemarket maker
Hong Kongprop desk
Zurichfund
Tokyomarket maker
New Yorkprop desk
Londonfund
Singaporemarket maker
Hong Kongprop desk
Zurichfund
Tokyomarket maker
Dubaiprop desk
Torontofund
Sydneymarket maker
Frankfurtfund
Chicagoprop desk
Seoulmarket maker
Dubaiprop desk
Torontofund
Sydneymarket maker
Frankfurtfund
Chicagoprop desk
Seoulmarket maker
Dubaiprop desk
Torontofund
Sydneymarket maker
Frankfurtfund
Chicagoprop desk
Seoulmarket maker
Dubaiprop desk
Torontofund
Sydneymarket maker
Frankfurtfund
Chicagoprop desk
Seoulmarket maker
Prop desks, funds, and market makers clear against the same Canton ledger - each seeing only the sub-transactions they are party to.
Explore the protocol →01
Atomic settlement on Canton
Margin lock, position creation, and PnL settlement execute as one Canton transaction. All-or-nothing, every time.
02
Transparent mark price oracle
03
Insurance fund protection
atomic settlement diagram
Why Metabasis
Everything a desk needs to size up with confidence.
Non-custodial collateral
Margin lives in a Daml contract requiring joint authorisation. No third-party custody risk.
Real-time PnL
Unrealised PnL is recomputed on-ledger with every oracle print, visible to every stakeholder.
On-chain audit trail
Funding settlements, liquidations, and insurance draws are queryable exercise events.
Need-to-know privacy
Position data is disclosed only to you and your clearing house; observers are a topology change, not a rewrite.
Verified counterparties
Full-KYC onboarding before the first order. A known book on both sides of every fill.
Institutional connectivity
FIX 4.4/5.0, binary gateways, and a sandbox-first certification path measured in days.
Non-custodial collateral
Margin lives in a Daml contract requiring joint authorisation. No third-party custody risk.
Real-time PnL
Unrealised PnL is recomputed on-ledger with every oracle print, visible to every stakeholder.
On-chain audit trail
Funding settlements, liquidations, and insurance draws are queryable exercise events.
Need-to-know privacy
Position data is disclosed only to you and your clearing house; observers are a topology change, not a rewrite.
Verified counterparties
Full-KYC onboarding before the first order. A known book on both sides of every fill.
Institutional connectivity
FIX 4.4/5.0, binary gateways, and a sandbox-first certification path measured in days.
Institutional connectivity
FIX 4.4/5.0, binary gateways, and a sandbox-first certification path measured in days.
Verified counterparties
Full-KYC onboarding before the first order. A known book on both sides of every fill.
Need-to-know privacy
Position data is disclosed only to you and your clearing house; observers are a topology change, not a rewrite.
On-chain audit trail
Funding settlements, liquidations, and insurance draws are queryable exercise events.
Real-time PnL
Unrealised PnL is recomputed on-ledger with every oracle print, visible to every stakeholder.
Non-custodial collateral
Margin lives in a Daml contract requiring joint authorisation. No third-party custody risk.
Institutional connectivity
FIX 4.4/5.0, binary gateways, and a sandbox-first certification path measured in days.
Verified counterparties
Full-KYC onboarding before the first order. A known book on both sides of every fill.
Need-to-know privacy
Position data is disclosed only to you and your clearing house; observers are a topology change, not a rewrite.
On-chain audit trail
Funding settlements, liquidations, and insurance draws are queryable exercise events.
Real-time PnL
Unrealised PnL is recomputed on-ledger with every oracle print, visible to every stakeholder.
Non-custodial collateral
Margin lives in a Daml contract requiring joint authorisation. No third-party custody risk.
Use cases
How participants trade on Metabasis
For professional tradersRun leverage with full on-ledger custody of your collateral.
Launch terminal → For market makersQuote tighter knowing every fill settles atomically with zero counterparty risk.
For institutionsAudit every position, liquidation, and funding event straight from the Canton ledger.
Fee tiers
Trading fees for every participant
Retail—%taker fee
Individual accounts, full-KYC verified, standard execution limits.
Included
+BTC, ETH, SOL perpetuals+Cross-margin collateral+Real-time on-ledger PnL+Non-custodial settlement+Standard matching queue
Request access Professional—%taker fee
Active desks with verified 30-day volume. Maker rebates and priority feeds included.
Everything in Retail, plus
+Maker rebate schedule+Priority matching queue+Extended leverage limits+FIX 4.4/5.0 gateway+PQS analytics access+Named compliance reviewer
Apply for professional InstitutionalCustom
Funds, market makers, and custodians needing bespoke schedules and party topology.
Everything in Professional, plus
+Negotiated fee schedule+Dedicated Canton node access+Custom party topology & observers+Binary gateway + co-location+Regulatory reporting exports
Contact sales FAQ
Protocol questions, answered
For anything else, reach the desk directly or read the Daml contract reference.
Contact the deskWhat is a perpetual future?−
A derivative contract with no expiry. PnL tracks the underlying continuously, and funding payments between longs and shorts anchor the mark price to the spot index.
How does Metabasis stay non-custodial?+
Collateral sits in a Daml contract that only you and the clearing party can jointly authorise. Metabasis never holds unilateral rights over your margin.
What does atomic settlement actually guarantee?+
Margin lock, position creation, and PnL settlement submit as a single Canton command. If any step fails, the whole command rolls back - no partial fills leaving stray exposure.
How are mark prices determined?+
An index feed of verified spot sources sets the reference; the funding mechanism then pulls the Metabasis mark toward it on each interval.
Who can see my positions?+
Canton sub-transaction privacy limits disclosure to you and your clearing counterparty. Regulators can be added as observers through party topology without touching contract code.
Can I query position history programmatically?+
Yes - every exercise event is queryable over the PQS SQL layer and the gRPC Ledger API, with FIX and binary gateways for order flow.
Get started
Open your first position in minutes.
Verify once, connect your Canton party, and trade BTC, ETH, SOL, and CC perpetuals against a fully-KYC book.
