> For the complete documentation index, see [llms.txt](https://docs.bbx.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.bbx.com/business/on-chain-perpetual-trading.md).

# On-chain Perpetual Trading

For users pursuing high capital efficiency and dual-direction gaming, BBX offers a decentralized derivatives trading protocol based on a full-chain order book DEX, supporting both real-world assets and crypto perp trading.

Without needing to hold the physical securities, users can utilize stablecoin-settled derivative contracts to flexibly acquire price exposure to global core assets, seizing market volatility opportunities at any moment. 

The core BBX matching engine is built on a high-performance, Hyperliquid-like full-chain order book architecture, which, while supporting up to 20x leverage, provides deep market quotes and highly precise anti-manipulation pricing. Furthermore, the system supports 7/24 all-weather operation, using second-level instant settlement to thoroughly break the opening time constraints of traditional derivative markets, thereby maximizing capital efficiency.

We have built a diversified RWA derivatives ecosystem for you, covering U.S. stocks, global stock indices, commodities, and high-volatility ETFs. The currently supported assets are as follows:

* Mainstream U.S. Stocks: TSLA, AAPL, MSFT, AMZN, NVDA, AMD, GOOGL, PLTR, CRC, MSTR, HOOD, META, MU, TSM, INT, COIN, LITE
* Global Indices: JP225, SPX500, TW88, US30, HK50, AUS200, GER40, US2000
* Commodities: SILVER, WTIOIL, GOLD
* ETFs: QQQ, TQQQ, SQQQ, SPY, EWJ, EWY, EWT, KWEB, SOXL

In addition to stocks, BBX also supports contract trading for mainstream crypto assets, with trading mechanisms and fee rates remaining consistent.