TheBlock
Pepperstone, an ASIC and FCA-regulated FX and CFD broker, has rolled out 24-hour US share CFDs and perpetual CFDs, extending the crypto-native 24/7 trading model into a regulated wrapper. Clients get negative balance protection and segregated client money alongside the new products.
Why it matters
The product borrows directly from crypto perpetual mechanics. Instead of a broker-set financing charge, the overnight swap on a perpetual CFD is derived from the underlying perpetual contract's peer-to-peer funding rate with no markup, settled in the swap format traditional CFD clients already understand. It is a deliberate bridge between DeFi primitives and regulated market infrastructure.
Market impact
RWA-linked perpetual volume approached $300B in June 2026 across Binance, Hyperliquid, and OKX, with weekends contributing roughly $20B. That weekend share signals genuine round-the-clock demand rather than a US-session artefact. Pepperstone's regulated entry lets TradFi clients access the same funding-rate economics without leaving an FCA or ASIC perimeter.
Frequently asked questions
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What is a perpetual CFD and how does it differ from a crypto perpetual?
A perpetual CFD applies the same peer-to-peer funding rate mechanic that drives crypto perpetuals, but settles the cost as an overnight swap in the format traditional CFD clients already recognize. There is no broker-set financing markup.
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Is Pepperstone's perpetual CFD offering regulated?
Yes. Pepperstone operates under ASIC and FCA regulation, with negative balance protection and segregated client money applied to the new 24/7 US share CFD and perpetual CFD products.
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How big is the RWA-linked perpetual derivatives market?
RWA-linked perpetual volume approached $300B in June 2026 across Binance, Hyperliquid, and OKX, with weekends contributing roughly $20B of that total.
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Why does weekend perpetual volume matter for market structure?
Weekend share close to 7% of monthly perp volume signals genuine round-the-clock demand rather than a US-session artefact, validating the 24/7 trading model that crypto pioneered.
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What is the strategic angle for Pepperstone entering perpetual CFDs now?
The broker is positioning regulated infrastructure as the bridge between DeFi funding-rate primitives and TradFi clients, capturing demand for 24/7 exposure without forcing clients outside an FCA or ASIC perimeter.
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