⚠︎ Risk warning: leveraged derivatives on unregulated platforms — you can lose everything you deposit. Not investment advice.
How to Start on Ondo Perps (2026): USDC and Stocks Guide
Mechanics verified against official Ondo Perps docs on 2026-10-05.
Know the custody model first: deposits are swept into an omnibus hot wallet and your balance is tracked off-chain, with Intel SGX attestation as the guarantee rather than a smart contract. Read the risk disclosure and the review. The Terms exclude anyone in Panama, the United States or Canada, U.S. persons, sanctioned persons, and residents of a long list of territories including Russia, Iran, Ukraine, North Korea, Venezuela, Cuba, Libya, Myanmar and Belarus. If that is you, stop here — this guide does not cover access workarounds.
Sign in
"Ondo Perps supports sign-in through a web3 wallet or email" at app.ondoperps.xyz. Supported wallets include Coinbase Wallet, Brave, Phantom, MetaMask, OKX Wallet, Nightly and WalletConnect-compatible wallets. No identity step appears in the sign-in docs.
Fund to your funding address
Provision a funding address in the app and send USDC on Ethereum or Arbitrum, or eligible Ondo tokenized stocks such as SPYon, QQQon or NVDAon on Ethereum. "Funding addresses are specific to the asset and network", and no bridge contract is involved. Tokenized stocks appear as an equivalent balance, for example SPYon as "SPY equivalent", and count toward margin after a haircut of 6.5% to 25%, up to a per-asset cap.
Understand cross margin and USDC Debt
Every position shares one cross-margin balance; "there is no isolated margin mode." If fees, funding or losses take your USDC below zero, the shortfall becomes USDC Debt backed by your stock collateral, up to 30% of its credited value or $100,000. At 30% loan-to-value, Auto-Exchange sells collateral to clear the debt and leaves positions open.
Set leverage and place an order
Leverage is set per market up to its maximum: the docs give 20x on AAPL, indices, gold, silver and WTI and 10x on most stocks, and the API lists more on some markets. Market, limit, TP/SL and TWAP orders are available; TWAP runs from 5 minutes to 7 days, up to 20 at once. Promotional fees are 0.025% taker and 0.01% maker; see the fees page.
Withdraw
Withdraw USDC on Ethereum or Arbitrum, or tokenized stocks on Ethereum, from your Spot or Perps balance. Perps withdrawals must leave enough margin for open positions, "unrealized profit is never withdrawable", and "a withdrawal cannot be recalled once sent." Ondo pays the gas.
FAQ
Do I need KYC?
Not for wallet or email sign-in. The Terms say identity checks for fiat on-ramps are run by third-party providers.
Can I trade at weekends?
Yes. Perps trade around the clock; when stock markets close, prices come from an internal pricing session based on the venue's order book.
Who holds my deposit?
An omnibus hot wallet operated through SGX enclaves, with key material split across an attestor network. Your balance is an off-chain record.
Open Ondo Perps → (opens in a new tab)
Official site link — no referral relationship. See our methodology.