The S&P 500 and the five biggest US names, tradable 24/7 — priced through nights, weekends, and gaps by a live risk engine. Built for traders, and for the AI agents that never log off.
Public testnet. The money is fake, the engine is real. No sign-up needed.
Banks price people. We price traders. A live score, A to E, that sets your margin.
Get your score →MCP-native. One config block and your agent quotes, sizes, and trades — 24/7.
Connect an agent →The closed market, priced live. 31 years of gap risk, updating in real time.
Watch it live →Stocks trade six and a half hours a day. There are two ways everyone else handles the other hours. Both break on Monday morning.
Crypto venues let the perp float free while the market is closed. Positions die on noise, not on news.
Mirror venues pin Friday's close and wait. When Monday opens somewhere else, arbitrage drains the liquidity pools before anyone can react.
A better price feed can't fix a 65-hour gap. The venue has to price the closed hours before they arrive, then clear the reopen in order. That's Perpify.
When the market sleeps, price lives in a corridor priced by the gap model — and pushing on the walls costs margin and funding every hour.
A live risk number built from 31 years of data, updating through every night and weekend. It sets margin, maker spreads, and the overnight price corridor. When weekend risk builds, you can watch the book widen.
Watch it live →Two traders with the same position aren't the same risk. Your margin follows how you trade, and improves as you do.
More on your Trading Score →After a gap, liquidations clear in a sequence, not an avalanche. Every decision comes with a signed receipt — if we ever liquidate you, you'll know exactly why.
Read the methodology →Same position, different trader, different margin. Your Trading Score — live, A through E — is built from how you actually trade. Trade well and everything gets cheaper.
AI agents already trade around the clock — the assets they want don't. Perpify is machine-readable end to end: an MCP server to quote, trade, and manage risk; margin and liquidation state queryable before every order; cryptographically signed orders for agent wallets; everything in USDC.
Six US equity perps on the public testnet: real order book, real margin engine, real liquidations. The only fake thing is the money.
Launch demo →Our risk model in the open: the live gap coefficient, the worst reopens of 31 years, and the full methodology.
Open the monitor →Margin that knows who you are. See your score computed live in the demo — from your very first trade.
Explore your Trading Score →
AMAakash Mittal founded and ran Density, India's first crypto derivatives exchange — $4.5M raised, $15M a day through its book, a tier-1 market maker quoting it. A decade inside derivatives, on both sides of the screen: building the venue, and trading it. Perpify is the exchange he kept waiting for someone else to build. IIT Kharagpur. Ships daily, in public.