Singapore Exchange Derivatives will become the first major Asian exchange to offer exchange-cleared crypto perpetual futures, targeting institutional and accredited investors under MAS regulatory framework.
Singapore Exchange Derivatives will launch Bitcoin BTC $68 932 24h volatility: 1.9% Market cap: $1.38 T Vol. 24h: $37.88 B and Ethereum ETH $1 977 24h volatility: 4.1% Market cap: $238.45 B Vol. 24h: $25.37 B perpetual futures on Nov. 24, becoming the first major Asian exchange to offer exchange-cleared crypto perpetual futures.
The contracts will be restricted to institutional, accredited, as well as expert investors as defined under Singapore’s regulatory framework.
The products will be benchmarked to iEdge CoinDesk Crypto Indices and provide continuous trading without expiry dates, according to SGX’s official announcement.
Bitcoin contracts will be sized at 0.2 BTC with a minimum price fluctuation of $1, while Ethereum contracts will be sized at 5 ETH with the same tick value.
Product Specifications
The perpetual futures will use a funding rate mechanism. This mechanism rebalances supply and demand by exchanging costs between long and short positions.
Funding rates will be capped at plus or minus 35 basis points to maintain product stability, while a stabilizing range sets the average spread to 3 basis points when trading remains within defined parameters.
Trading will occur in two sessions under Singapore time. The T session runs from 7:05 a.m. to 4:00 p.m., while the T+1 session operates from 4:05 p.m. to 5:15 a.m. the following day. Both contracts will be cash-settled in USD.
Under Singapore law, access is limited to qualified participants. Accredited investors must have net personal assets exceeding S$2 million or annual income over S$300,000.
Institutional entities such as banks can also trade the contracts, as can expert investors whose business involves capital markets products.
The launch aligns with Singapore’s broader tokenization initiatives, as the Monetary Authority of Singapore (MAS) continues developing regulated digital asset infrastructure.
Market Context
Perpetual futures account for more than $187 billion in daily trading volume globally, according to CoinDesk Research data.
Most of this volume occurs on offshore, unregulated platforms. SGX’s launch follows similar products introduced by Bitnomial Exchange in September 2025 and Coinbase Derivatives in July 2025 in the United States, and One Trading in the European Union in July 2024.
The move follows Hong Kong’s approval of its first Solana spot ETF in October 2025.
Michael Syn, President of SGX Group, said the launch applies institutional discipline to crypto’s most traded derivative structure.
According to the press release, Syn stated that bringing perpetuals into an exchange-cleared and regulated framework provides institutions with the trust and scalability they require for crypto exposure.
The SGX perpetual futures differ from standard futures contracts offered by venues like CME Group.
Standard futures require position rollovers at fixed expiration dates. Perpetuals have no expiry and use funding rates to maintain price alignment with spot markets.
The Nov. 24 launch will mark the first time Asian institutional investors can access exchange-cleared perpetual futures for Bitcoin and Ethereum through a regulated venue in the region.
next