Ondo Perpetual Futures launches 24/7 spot trading for tokenized stocks and ETFs.

Core Development

PANews reported on September 29, citing Cointelegraph, that Ondo Perps introduced 24/7 spot trading for tokenized stocks and ETFs. The change gives traders access to these digital representations of stock and ETF instruments outside the fixed hours of conventional market sessions.

Background and interpretation

Tokenized stocks and ETFs are digital instruments intended to track conventional securities. They may provide exposure to individual companies or baskets of assets. In traditional markets, trading is limited to scheduled sessions, while news can still arrive outside those hours. The source material describes continuous spot trading as access to these digital representations outside fixed conventional sessions. This can allow traders to act on information at more times of the day, though it does not remove risks from the underlying markets or from price discovery in digital venues.

Collateral and Basis Trading

The platform allows traders to use their spot holdings as collateral for perpetual contracts. It also supports basis trading on the same platform, a strategy that involves coordinated positions in the spot and perpetual markets to trade the price difference between them.

Perpetual futures do not expire in the same way as dated futures. Basis trading refers to taking coordinated positions in spot and perpetual markets to capture the price difference between them. When spot holdings can also serve as collateral, capital efficiency may improve, but the relationship between collateral value, margin requirements, and liquidation thresholds becomes more important. Traders need to consider how a single asset can be treated as both an exposure and a margin component.

What to Watch

The practical issue for traders is how collateral eligibility and margin management behave when the same tokenized asset can be used both as spot exposure and as perpetual contract collateral. Continuous trading may reduce gaps between market sessions, but it also keeps positions exposed during hours that were previously closed.

Continuous access may reduce some session-related gaps, but it can also require more active monitoring, because positions are not paused by the closing time of a traditional exchange. The practical focus is therefore not only price direction, but also account rules, collateral eligibility, liquidity conditions during unusual hours, and how risk controls respond when market values change.

Risk Warning

This article is provided only as an informational summary of market developments and does not constitute investment advice, trading recommendations, or any guarantee of returns. Tokenized stocks, ETFs, perpetual futures, and other digital assets can be highly volatile, and 24/7 trading may keep positions exposed outside traditional market hours, potentially increasing risks related to collateral, margin, liquidity, and price gaps. Please assess your risk tolerance carefully, verify information independently, and make rational investment decisions.