US Large Cap

15.3x

LiveData from Kalshi traders

People are buying

50% Up50% Down

Volume 24h$5.6M

Open interest$1.8M

Funding rate—

Annualized funding rate (7d)—

Max leverage15.3x

Kalshi offers broad exposure to US large cap companies through Kalshi's US Large Cap index perpetual future. The underlying index is calculated by MerQube (https://merqube.com/indices/MQ5CT), which has historically shown 99%+ daily-return correlation with major U.S. large-cap benchmarks, including the S&P 500®.

The index is made up of 500 large publicly traded US companies and is weighted by market capitalization, so bigger companies like Nvidia, Microsoft and Apple move the price much more than smaller ones. It's a total return index, which means dividends are reinvested back into the index.

What to watch: Company earnings, Federal Reserve interest-rate decisions, monthly jobs and inflation reports, and overall investor sentiment.

FAQs

Does the market end?

Nope! That's the beauty of perps. You can close your position whenever you want to.

What is leverage?

Leverage lets you take a larger position with less money out of your pocket. It increases the overall size of the position, but it also affects how sensitive you are to big price swings — and liquidation if the price swing moves against you.

What is liquidation?

Liquidation is designed to protect you. When you open a position using leverage, the money you put in is used as a deposit. If the asset price moves against you, that deposit shrinks. If it gets too low to the minimum required to keep the position open, Kalshi starts closing your position to protect you from losing more than you put in.

What is the funding rate?

Kalshi runs a funding cycle once a day, where the perps price is adjusted to be the same as the underlying index price. Depending on whether the perps price is adjusted up or down, users holding long positions and users holding short positions pay each other a fee. Any portion of the funding interval when the underlying market is closed does not contribute to the funding rate.Funding fees are strictly capped at 2% of your position per funding cycle. Kalshi makes no money from this.

How are Perpetuals different from predictions, stocks or options?

Perps are unique in 3 ways:1. Two-way trading: Trade on whether the price will go up or down. Stocks only make money if the price goes up.2. No expiration: Predictions and options have a strict end date. Perps never expire. You can hold your position for five minutes or five months, and cash out whenever you want.3. Trade with leverage: Control a bigger position with less upfront cash.

Are Kalshi's Perpetuals regulated?

Yes. Kalshi's Perpetuals are CFTC-approved true perpetual futures. Kalshi is the first company in US history to offer regulated perpetual futures to American traders.

Learn more

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Perpetual futures involve substantial risk of loss and are not suitable for all customers; you may lose all funds you commit, including fees and commissions, and you may be required to post additional margin or make additional payments. All trading decisions are your own and at your own risk. By proceeding, you acknowledge that you have read the CFTC Risk Disclosure Statement and agree to the Terms of Use and Customer Agreement.

LiveData from Kalshi traders

People are buying

50% Up50% Down

Volume 24h$5.6M

Open interest$1.8M

Funding rate—

Annualized funding rate (7d)—

Max leverage15.3x

What to watch: Company earnings, Federal Reserve interest-rate decisions, monthly jobs and inflation reports, and overall investor sentiment.

FAQs

Does the market end?

Nope! That's the beauty of perps. You can close your position whenever you want to.

What is leverage?

What is liquidation?

What is the funding rate?

How are Perpetuals different from predictions, stocks or options?

Are Kalshi's Perpetuals regulated?

Yes. Kalshi's Perpetuals are CFTC-approved true perpetual futures. Kalshi is the first company in US history to offer regulated perpetual futures to American traders.

Learn more

US Large Cap

US Large Cap Price Chart

FAQs

FAQs