Perpetual Futures versus 0DTE Options: Why the Comparison Doesn't Hold Up
For advisors fielding client questions about crypto derivatives moving into regulated U.S. markets, it frames the distinctions the report draws between perpetual futures and 0DTE options.
Summary
By the etfs deskThe video examines how bitcoin perpetual futures compare with zero-day-to-expiration (0DTE) options, following the CFTC's approval of Kalshi's bitcoin perpetual futures contract and CFTC Chair Selig's comparison of the two products. It draws on Cboe's Volatility Insights report, which argues the comparison breaks down once leverage is set aside and payoff structure, risk and investor behavior are considered.
- The CFTC approved Kalshi's bitcoin perpetual futures contract on May 29, 2026, the first such product on a regulated U.S. exchange.
- CFTC Chair Selig compared perpetual futures to zero-day options and signaled that approvals for other asset classes may follow.
- Cboe's Volatility Insights report argues the comparison breaks down once leverage is set aside.
- The report points to differences in payoff structure, risk and actual investor behavior.
Similar items
Same topic
Get the weekly 3 to watch
Free, in the Morning BriefEvery week the Morning Brief picks three videos and podcasts worth your time, with why each one matters.
Free. Every morning. Unsubscribe from any edition in one click.
Videos and podcasts are embedded from their publishers. Selections and summaries are editorial and are not investment advice.