Best Perps Prop Firms 2026: Funded Perpetuals Compared

A perps prop firm lets you trade crypto perpetual futures on a funded account instead of your own margin. You pay a one-time fee, pass an evaluation, and keep most of the profit. In 2026 the field has grown fast: futures firms have launched perps brands, exchanges have bought prop firms, and new firms run their own perps venues.

The headline numbers look alike. The rules that decide whether you keep an account do not: whether the drawdown is static or trailing, whether you pay real funding rates or a fixed swap, and how payouts work. This guide compares seven firms on those points, using each firm's own rules and help pages, read in November 2026.

What Is a Perps Prop Firm?

A perpetual future is a crypto derivative with no expiry date. It stays close to the spot price through the funding rate: a payment between longs and shorts every few hours. Perps are the most traded crypto product, which is why crypto prop firms are built around them.

A perps prop firm gives you a simulated account priced from perpetual markets on venues such as Hyperliquid, Bybit or Binance. You trade it like a perps account, with leverage and long or short positions, under the firm's risk rules. Profits on a funded account are paid out as a share, usually 80% to 95%.

Three things separate one firm from another:

1. Drawdown type. A static floor stays fixed from your starting balance. A trailing floor follows your equity high, open profit included, so a winning trade that comes back can end the account.
2. Funding rates or swap. Some firms apply the real venue funding rate to your positions. Others replace it with a fixed daily fee that is the same for longs and shorts.
3. Payout terms. Frequency, minimums, lifetime caps and fees vary more than the split does.

Quick Comparison: Perps Prop Firms

Prices are list prices for the smallest standard account and change with promotions. Check each firm's site before buying.

1. Velotrade: Perps-Style Crypto Without a Funding Rate

Velotrade is a multi-asset prop firm, not a perps exchange. Its 104 crypto instruments trade 24/7 on DXtrade and are priced to track the matching USDT perpetuals, so the charts behave like perps charts. The difference is the holding cost: there is no variable funding rate. A flat fee of 0.05% of notional applies to any crypto position open at 00:30 UTC, every day including weekends, long or short. Commission is 0.03% per side. The full schedule is in the overnight holding rules.

• Plans: PRO 1-Step ($40 for $5K, 10% target, 3% daily loss, 3% maximum drawdown, scaling to $200K), CLASSIC 1-Step (4% daily, 7% maximum) and CLASSIC 2-Step (5% daily, 10% maximum)
• Drawdown: static on every plan
• Leverage: BTC 10x in the challenge and 5x funded; most altcoins 2x to 3x (see the instrument list)
• Rules: no consistency rule, no per-trade loss cap, news trading and weekend holding allowed, REST and WebSocket API on every account
• Payouts: first after 14 days, then weekly, $100 minimum, in USDC or USDT, published on the payouts page
• Beyond crypto: forex, stocks, index ETFs and commodities on the same account

Best for traders who want a predictable holding cost and one account for crypto and other markets. Not the pick if you want an on-chain perps venue or high altcoin leverage.

2. MyFundedPerps: The Futures Firm's Perps Brand

MyFundedPerps (myfundedperpetuals.com) comes from the team behind MyFundedFutures. It runs four 1-step plans, all with a static maximum drawdown:

On Select, Prime and Signature the floor locks at your starting balance after the first payout. Prices are simulated from several venues, including Hyperliquid, Binance and Bybit. Venue funding rates do not touch your balance; instead there is an hourly swap that adds up to 0.03% a day on crypto (0.01% on Elite), plus 0.03% commission per fill.

The split is 80%, or 90% with an upgrade. You can request one payout a day (Elite on demand) with a $100 minimum, paid through Rise. Note the $100,000 lifetime payout cap per trader. US traders are eligible.

3. Vest Markets: A Prop Firm Run by a Perps Exchange

Vest Markets sells funded accounts (branded Vest Capital) alongside its own perps exchange, and lists Coinbase and Jane Street among its backers. Markets include crypto, stocks and commodities as perpetuals, 24/7.

• Evaluation: Silver $5K, Gold $10K, Platinum $25K and Emerald $50K, from $75 for $5K. Profit target 10% (20% optional on 1-Step), a fixed 6% maximum drawdown that never trails, and an optional 3% or 4% daily loss limit. Split 80% or 90%.
• Instant: no evaluation, a 95% split, and a fee equal to the maximum drawdown (2% to 4% of the account).
• Payouts: claim at any time in USDC, processed within 24 hours.
• Watch for: funded accounts trade in the same environment as Vest's exchange, where funding settles hourly between longs and shorts, so confirm how funding is applied to your positions. XRP and HYPE are not tradable on funded accounts, and API trading is not allowed. Vest's FAQ talks about real capital once live, but its prop terms state that all accounts are simulated.

The company behind it is Vest Exchange Inc., registered in Panama. US traders are not on its prohibited list.

4. Breakout: Kraken's Prop Firm

Breakout was acquired by Kraken and focuses on crypto. All three 1-step plans use a static drawdown and a 3% daily loss limit that resets at 00:30 UTC, with up to 10x leverage:

Breakout charges a fixed swap of 0.033% a day instead of funding, and 0.04% commission on crypto. The split is 80%, or 90% as an upgrade. Payouts are on demand with a $50 minimum, in USDC. There is no consistency rule. Read the full Breakout review.

5. HyroTrader: Exchange Demo Accounts

HyroTrader runs simulated accounts on Bybit or BloFin, or on its own platform with Bybit prices, so the screen looks like a real exchange. Plans: Two-Step from $59 (10% then 5%, 5% daily, 10% maximum), One-Step from $69 (10%, 4% daily, 6% maximum) and Zero-Step from $89 (10%, 3% daily, 5% maximum). The maximum loss is fixed from your starting balance.

The catch is the consistency rules: on One-Step and Two-Step no single day can exceed 40% of the target, and on Zero-Step no single trade can exceed 50% of it. Payouts start at $100, in USDT or USDC, within 24 hours. HyroTrader does not say how funding rates are handled. See the HyroTrader review.

6. Propr: Built on Hyperliquid

Propr is a newer firm built on Hyperliquid and backed by SwissBorg. Its three 1-step plans mirror a familiar structure: Classic (10% target, 6% maximum), Pro (12%, 5%) and Turbo (9%, 3%), each with a 3% daily loss limit and a static drawdown. A $25K account costs $275, $185 or $125. Leverage goes up to 10x (5x on major coins), the split is 80%, and payouts are paid on-chain in USDC. Accounts are simulated, with selected trades copied to Hyperliquid. Funding treatment is not stated.

7. Upcomers Perpetuals: Real Funding, Trailing Floor

Upcomers runs perpetuals programs on Hyperliquid's order book with simulated execution, up to $400K. It is the firm that applies real hourly funding rates to positions, which Upcomers presents as genuine market behaviour. Its Odyssey 2-Step perpetuals program has 6% and 6% targets, a 4% daily limit and a trailing 6% drawdown (the "Dynamic Risk Shield") that follows your equity high until it locks at the starting balance. Payouts come every 14 days. For the full rule set against a static model, see Upcomers vs Velotrade.

Funding Rates vs Fixed Swap: Which Is Better?

On a real perps exchange, funding can work for or against you. In a crowded bull market longs pay shorts, sometimes 0.03% or more every 8 hours, and a short can collect it. A fixed daily fee removes that variable: you pay the same whichever side you take, and you can work out the cost before you enter.

Example: a $10,000 BTC long held for 3 days.

Commissions come on top at every firm. Swing traders who hold for days should compare holding costs as closely as they compare entry fees. Scalpers will barely notice them.

How to Choose a Perps Prop Firm

• Check the drawdown type first. A trailing floor punishes traders who let winners run. Static is now the norm, so there is little reason to accept trailing.
• Read the funding and swap page. If a firm does not say how funding is applied, ask before you buy.
• Look for consistency rules and per-trade caps. A best-day or best-trade rule delays payouts for traders whose profits come in bursts.
• Read the payout terms, not just the split. Lifetime caps, payout fees and minimum profit days change the real value of an 80% or 90% split.
• Assume the account is simulated. MyFundedPerps, Vest, HyroTrader, Propr and Upcomers all describe their accounts as simulated. "Real capital" claims usually refer to the firm hedging some trades with its own money. Our prop firm red flags list covers the other checks.

For the wider crypto field, including firms that are not perps-focused, see the best crypto prop firms.

Velotrade is unregulated and offers educational, simulated evaluations with real-time market pricing. Competitor details are taken from each firm's own website, help center or documentation in November 2026. Perps firms change plans, prices and rules often, so confirm current terms on each firm's site before buying.