Nadex Launches SEI Perpetual Futures Contract with No Expiration Date

Introduction

Nadex, operating as OG.com Markets, has introduced a dollar-settled perpetual futures contract for the Sei (SEI) cryptocurrency. The contract, SEI-USD-Perp, has no expiration date and uses the CF Sei-Dollar Spot Rate as its reference price.

Features and Mechanics

The contract features funding payments exchanged every eight hours to keep the contract price aligned with the spot index. This new product allows traders to take long or short positions with a minimum trading unit of 100 contracts, accessible through CFTC-registered brokers. The contract began trading with two recorded trades on October 16.

Market Implications

The launch of this perpetual futures contract for SEI is significant, as it marks an important milestone in the evolution of the cryptocurrency market. With no expiration date, traders can take advantage of long-term market trends without the burden of time-sensitive positions. The use of the CF Sei-Dollar Spot Rate as the reference price also ensures a stable and reliable pricing mechanism.

Precedent & Market Context

This launch is part of a growing trend of stablecoins and USDC being widely accepted as a form of payment. SEI has already launched perpetual futures trading on its OG.com Markets, offering leverage of up to 40x on BTC and 25x on ETH. Pump.fun has also launched perpetual futures trading powered by Hyperliquid, offering leverage of up to 40x on BTC and 25x on ETH. These milestones highlight the growing importance of stablecoins and USDC in the cryptocurrency market.

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