Fomo perps: what you can trade, and who can trade it

On 11 June 2026 fomo added perpetual futures to the same account people use for spot trades, powered by Hyperliquid and Trade[XYZ]. It widened the app from memecoins to oil, gold, the Nasdaq and even a SpaceX pre-IPO market. It also came with the hardest restriction in the product: perps are not available to US persons.

What are fomo perps?

A perpetual future is a contract that tracks an asset's price with no expiry date. You are not buying the asset; you are taking a position on where its price goes, with margin behind it. fomo did not build its own venue for this: its launch post credits Hyperliquid and Trade[XYZ] as the infrastructure, with fomo providing the interface inside the app you already use for fomo trading.

Positions use isolated margin. That means each position carries its own margin, and a liquidation takes that margin rather than everything in your account. It is the safer of the two common margin models, and it still means a position can be closed out entirely.

What can you trade with fomo perps?

This is the clearest difference between fomo and a pure memecoin app: the same balance that buys a fomo meme coin can also express a view on gold or the Nasdaq, for traders who are eligible.

Who can use fomo perps?

fomo's launch post is blunt: perpetuals are not available to US persons, defined as citizens, residents or anyone located in the United States, and it warns against attempting access from inside the country. fomo's terms also let it require KYC documentation as a condition of accessing perps, and separately prohibit using a VPN to get around location restrictions, and bar access from sanctioned and restricted jurisdictions. Robinhood Chain tokens carry their own list of restricted countries.

If you are in the US, the spot side of the app still works normally: buying and selling tokens on six chains, as described in our fomo app guide.

What do fomo perps cost?

fomo's terms state a perpetuals fee of 0.05% per transaction. What fomo has not published is just as important:

• Venue fees. The launch post does not say what Hyperliquid or Trade[XYZ] charge on top.
• Funding rates. Perpetuals normally charge or pay a periodic funding rate between long and short holders; fomo does not publish its schedule.
• Maximum leverage. Not published either, so check the figure the app shows before sizing a position.

For spot trades the published schedule is complete, and it is on our fomo fees page: 0.50% on most chains, tiers on Solana, 0.05% on selected major tokens.

How do you access perps in the fomo app?

fomo says perps run from your existing account with one-click trading, sitting next to the feed, leaderboard and profile rather than in a separate product. So the setup is the same as for spot: create the account through a referral link first if you want the fee discount, fund it as described in the fomo wallet guide, then switch to perps if you are eligible. The account creation walkthrough is in the sign-up guide.

Are fomo perps a good idea for a beginner?

Usually not, and the reason has nothing to do with fomo. Leverage turns an ordinary price move into a liquidation, funding costs accumulate while you wait to be right, and perps let you lose money on assets you have never traded before, such as commodities or index futures. If you are new, the spot side is the place to learn what the app does, what fees actually cost you and how your own decisions hold up. What the app is and is not is covered in fomo crypto, and how the wallet protects you, or does not, is on the fomo safety page.

Fomo perps questions