QATS Prop challenges trade 50 USDT-margined perpetual futures: 17 crypto perpetuals on Crypto challenges and 33 TradFi perpetuals on TradFi challenges, covering gold, silver, oil, natural gas, copper, equity index funds, single US stocks and leveraged ETFs. None of them expire, all of them trade around the clock, and every one is priced from Binance or Bybit.
Compiled by the QATS team from the live instrument catalogue · checked
What can you trade on a QATS Prop challenge?
A QATS Prop Crypto challenge trades 17 crypto perpetuals, and a TradFi challenge trades 33 perpetuals on commodities, index funds, US stocks and leveraged ETFs. Each account trades only the instruments of its own plan, and the plan list is checked on every quote and every order.
Semiconductors 3x (SOXL), Semiconductors -3x (SOXS), South Korea 3x (KORU), Nasdaq 100 3x (TQQQ)
Crypto challengesTradFi challenges
How do prices, leverage, funding and trading hours work?
The same rules hold for every instrument on this page. They come from the published plan lineup; the plan shown at checkout is the one that applies to an account.
Contract type
USDT-margined perpetual futures: no expiry date and no rollover.
Prices
A Crypto challenge is priced from the exchange chosen at checkout, Binance or Bybit, for its whole life. A TradFi challenge is always priced from Binance, even for instruments Bybit also lists.
Leverage
On the current plans, up to 20× on BTC and ETH and up to 10× on every other instrument. You choose the leverage of each order up to that ceiling, and positions are sized from free margin. The plan shown at checkout is the one that applies.
Funding
Open positions pay or receive the exchange’s funding rate at its funding times. Funding is added to the position’s P&L, and the terminal shows the current rate.
Trading day
Crypto challenges count the risk day from 00:00 UTC. TradFi challenges count it from 17:00 Chicago time; that is an accounting boundary, not a pause.
Pauses
No current plan closes trading for a market session, a weekend or a news release. Trading is limited only by the plan’s risk rules: the daily loss limit and the maximum loss.
Weekends
Stock, index and fund perpetuals keep trading when their market is closed, with thinner books and wider spreads. A position held over a weekend meets Monday’s open.
Which crypto perpetuals can I trade on QATS Prop? 17 instruments
Crypto challenges trade 17 crypto perpetuals: Bitcoin (BTCUSDT), Ether (ETHUSDT), Solana (SOLUSDT), XRP (XRPUSDT), BNB (BNBUSDT), Dogecoin (DOGEUSDT), Cardano (ADAUSDT), Avalanche (AVAXUSDT), Chainlink (LINKUSDT), Litecoin (LTCUSDT), Zcash (ZECUSDT), Hyperliquid (HYPEUSDT), Sui (SUIUSDT), NEAR Protocol (NEARUSDT), Uniswap (UNIUSDT), Aave (AAVEUSDT) and Ethena (ENAUSDT). They are priced from Binance or Bybit, whichever exchange the challenge was bought on. Leverage on the current plans goes up to 20× on Bitcoin (BTCUSDT) and Ether (ETHUSDT) and up to 10× on the others.
Priced from Binance and Bybit, open around the clock, sized by leverage.
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Crypto perpetuals a QATS Prop challenge can trade, with exchange listing, maximum leverage and trading hours
The first and largest cryptocurrency, and the one the rest of the market takes its direction from.
Bitcoin is a digital currency with no issuer. New coins are created by miners who secure the network, the total can never exceed 21 million, and the rate of new supply halves about every four years.
Challenge
Crypto challenges
Listed on
Binance and Bybit
Max leverage
Up to 20× on the current plans
Launched
2009
Maximum supply
21 million BTC
Secured by
Proof of work
Supply event
Halving about every four years
Trades around the clock, weekends included. Volume is usually deepest when European and US hours overlap, 13:00 to 17:00 UTC.
The largest platform for applications built on a blockchain, and the second-largest cryptocurrency.
Ether is the currency of Ethereum, the network most decentralised finance, stablecoins and tokenised assets run on. Every transaction pays a fee in ether, part of which is destroyed, and holders can stake their coins to secure the network and earn a yield.
Challenge
Crypto challenges
Listed on
Binance and Bybit
Max leverage
Up to 20× on the current plans
Launched
2015
Maximum supply
No fixed cap; part of every fee is burned
Secured by
Proof of stake since 2022
Used for
Fees, staking, collateral
Trades around the clock, weekends included. Volume is usually deepest when European and US hours overlap, 13:00 to 17:00 UTC.
A fast, low-fee blockchain that has become the main home of retail crypto trading.
Solana processes transactions in fractions of a second for a fraction of a cent, which made it the network of choice for on-chain trading, payments and consumer applications.
Challenge
Crypto challenges
Listed on
Binance and Bybit
Max leverage
Up to 10× on the current plans
Launched
2020
Maximum supply
No fixed cap; inflation declines each year
Secured by
Proof of stake
Used for
Fees and staking
Trades around the clock, weekends included. Volume is usually deepest when European and US hours overlap, 13:00 to 17:00 UTC.
A payments token built for moving money across borders in seconds.
XRP is the currency of the XRP Ledger, a network designed for fast, cheap settlement between currencies. All 100 billion tokens were created at launch; a large share is held by Ripple, the company that builds payment products on the ledger, and released on a schedule.
Challenge
Crypto challenges
Listed on
Binance and Bybit
Max leverage
Up to 10× on the current plans
Launched
2012
Total supply
100 billion XRP, created at launch
Settlement
Three to five seconds
Associated company
Ripple
Trades around the clock, weekends included. Volume is usually deepest when European and US hours overlap, 13:00 to 17:00 UTC.
The token of the Binance ecosystem and of BNB Chain.
BNB pays for transactions on BNB Chain and gives fee discounts and access to token sales on Binance, the largest crypto exchange. Supply is reduced over time through regular burns.
Challenge
Crypto challenges
Listed on
Binance and Bybit
Max leverage
Up to 10× on the current plans
Launched
2017
Supply
Reduced by regular burns toward 100 million
Network
BNB Chain
Used for
Fees, discounts, token sales
Trades around the clock, weekends included. Volume is usually deepest when European and US hours overlap, 13:00 to 17:00 UTC.
The original meme coin: a currency that runs on attention.
Dogecoin started as a joke in 2013 and became one of the most traded cryptocurrencies. It works like bitcoin but with no supply cap: about five billion new coins are created every year.
Challenge
Crypto challenges
Listed on
Binance and Bybit
Max leverage
Up to 10× on the current plans
Launched
2013
Maximum supply
No cap; about 5 billion new DOGE a year
Secured by
Proof of work, mined together with Litecoin
Driven by
Sentiment and attention
Trades around the clock, weekends included. Volume is usually deepest when European and US hours overlap, 13:00 to 17:00 UTC.
A research-led blockchain with one of the largest communities of holders.
Cardano is a smart-contract network developed through peer-reviewed research and released in stages. ADA pays fees and is staked by most holders; the supply is capped at 45 billion.
Challenge
Crypto challenges
Listed on
Binance and Bybit
Max leverage
Up to 10× on the current plans
Launched
2017
Maximum supply
45 billion ADA
Secured by
Proof of stake
Used for
Fees, staking, governance
Trades around the clock, weekends included. Volume is usually deepest when European and US hours overlap, 13:00 to 17:00 UTC.
A network of fast, customisable blockchains used by institutions and games.
Avalanche lets organisations launch their own blockchains that settle in under a second and connect to each other. AVAX pays fees, which are burned, and is staked to secure the network; supply is capped at 720 million.
Challenge
Crypto challenges
Listed on
Binance and Bybit
Max leverage
Up to 10× on the current plans
Launched
2020
Maximum supply
720 million AVAX
Secured by
Proof of stake
Used for
Fees (burned), staking
Trades around the clock, weekends included. Volume is usually deepest when European and US hours overlap, 13:00 to 17:00 UTC.
The network that brings real-world prices and data onto blockchains.
Chainlink supplies the price feeds and data that decentralised finance depends on, and the messaging that connects blockchains to each other and to banks. LINK pays the operators who deliver that data; supply is capped at one billion.
Challenge
Crypto challenges
Listed on
Binance and Bybit
Max leverage
Up to 10× on the current plans
Launched
2017
Maximum supply
1 billion LINK
Role
Oracle and cross-chain network
Used for
Paying data providers, staking
Trades around the clock, weekends included. Volume is usually deepest when European and US hours overlap, 13:00 to 17:00 UTC.
One of the oldest cryptocurrencies: bitcoin’s design, made faster and cheaper.
Litecoin launched in 2011 as a lighter version of bitcoin, with blocks four times as fast and a cap of 84 million coins. Like bitcoin, its new supply halves about every four years.
Challenge
Crypto challenges
Listed on
Binance and Bybit
Max leverage
Up to 10× on the current plans
Launched
2011
Maximum supply
84 million LTC
Secured by
Proof of work
Supply event
Halving about every four years
Trades around the clock, weekends included. Volume is usually deepest when European and US hours overlap, 13:00 to 17:00 UTC.
Bitcoin’s supply rules with the option of fully private transactions.
Zcash copies bitcoin’s economics, a 21 million cap and regular halvings, and adds shielded transactions, where cryptography hides the sender, the receiver and the amount while still proving the payment is valid.
Challenge
Crypto challenges
Listed on
Binance and Bybit
Max leverage
Up to 10× on the current plans
Launched
2016
Maximum supply
21 million ZEC
Secured by
Proof of work
Feature
Shielded (private) transactions
Trades around the clock, weekends included. Volume is usually deepest when European and US hours overlap, 13:00 to 17:00 UTC.
The token of Hyperliquid, the largest exchange for perpetual contracts that runs entirely on its own blockchain.
Hyperliquid is a trading venue built as a blockchain: orders, matching and settlement all happen on the network, at speeds close to a conventional exchange. HYPE secures that network and pays its fees; supply is capped at one billion.
Challenge
Crypto challenges
Listed on
Binance and Bybit
Max leverage
Up to 10× on the current plans
Launched
2024
Maximum supply
1 billion HYPE
Network
Hyperliquid
Supported by
Buybacks funded by trading fees
Trades around the clock, weekends included. Volume is usually deepest when European and US hours overlap, 13:00 to 17:00 UTC.
A newer high-speed blockchain built by former Meta engineers.
Sui is a smart-contract network designed to process many transactions in parallel, which keeps it fast and cheap under load. SUI pays fees and is staked to secure the network; supply is capped at 10 billion.
Challenge
Crypto challenges
Listed on
Binance and Bybit
Max leverage
Up to 10× on the current plans
Launched
2023
Maximum supply
10 billion SUI
Secured by
Proof of stake
Used for
Fees, staking, governance
Trades around the clock, weekends included. Volume is usually deepest when European and US hours overlap, 13:00 to 17:00 UTC.
A blockchain built for ease of use, now positioning itself around AI agents.
NEAR Protocol is a smart-contract network that splits its work across parallel chains to stay fast, and hides much of the complexity of wallets and addresses from users. NEAR pays fees and is staked to secure the network.
Challenge
Crypto challenges
Listed on
Binance and Bybit
Max leverage
Up to 10× on the current plans
Launched
2020
Maximum supply
No fixed cap; modest yearly inflation
Secured by
Proof of stake
Used for
Fees, staking
Trades around the clock, weekends included. Volume is usually deepest when European and US hours overlap, 13:00 to 17:00 UTC.
The token of Uniswap, the largest decentralised exchange.
Uniswap lets people swap tokens directly from their wallets, with prices set by pools of deposited assets instead of an order book. UNI is its governance token: holders vote on the protocol and on how its fees are used.
Challenge
Crypto challenges
Listed on
Binance and Bybit
Max leverage
Up to 10× on the current plans
Launched
2020
Total supply
1 billion UNI at launch
Role
Governance of the Uniswap protocol
Runs on
Ethereum and related networks
Trades around the clock, weekends included. Volume is usually deepest when European and US hours overlap, 13:00 to 17:00 UTC.
The token of Aave, the largest lending market in decentralised finance.
Aave lets people lend and borrow crypto without an intermediary: lenders earn interest, borrowers post collateral, and the protocol keeps a share. AAVE governs the protocol and backs it against losses.
Challenge
Crypto challenges
Listed on
Binance and Bybit
Max leverage
Up to 10× on the current plans
Launched
2020
Maximum supply
16 million AAVE
Role
Governance and safety backstop
Runs on
Ethereum and related networks
Trades around the clock, weekends included. Volume is usually deepest when European and US hours overlap, 13:00 to 17:00 UTC.
The token of Ethena, the protocol behind the USDe synthetic dollar.
Ethena issues USDe, a dollar-pegged token backed by crypto collateral whose price risk is offset with short positions in perpetual contracts. The income from those positions and from staking is passed to holders who lock their USDe. ENA governs the protocol.
Challenge
Crypto challenges
Listed on
Binance and Bybit
Max leverage
Up to 10× on the current plans
Launched
2024
Maximum supply
15 billion ENA
Role
Governance of the Ethena protocol
Product
USDe synthetic dollar
Trades around the clock, weekends included. Volume is usually deepest when European and US hours overlap, 13:00 to 17:00 UTC.
Which metal and energy perpetuals can I trade? 8 instruments
TradFi challenges trade 8 metal and energy perpetuals: Crude Oil WTI (CLUSDT), Brent Crude (BZUSDT), Gold (XAUUSDT), Silver (XAGUSDT), Platinum (XPTUSDT), Palladium (XPDUSDT), Copper (COPPERUSDT) and Natural Gas (NATGASUSDT). They are priced from Binance. Leverage on the current plans goes up to 10×. Platinum (XPTUSDT), Palladium (XPDUSDT), Copper (COPPERUSDT) and Natural Gas (NATGASUSDT) are listed on Binance only.
Precious and industrial metals, crude oil and natural gas.
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Metals and energy a QATS Prop challenge can trade, with exchange listing, maximum leverage and trading hours
West Texas Intermediate, the US benchmark for crude oil.
WTI is the price of light, sweet crude delivered to the storage hub at Cushing, Oklahoma. It reflects the American oil market: shale production, refinery demand, exports and the level of stocks in storage.
Challenge
TradFi challenges
Listed on
Binance and Bybit
Max leverage
Up to 10× on the current plans
Quoted in
US dollars per barrel
Delivery point
Cushing, Oklahoma
Key weekly figure
US inventories, Wednesday 10:30 New York
Trades around the clock. Activity peaks in New York hours, around the 09:00 to 14:30 New York time pit session, and thins out at weekends.
Brent, the benchmark that prices most of the world’s seaborne crude.
Brent is the price of crude from the North Sea, and the reference for about two thirds of the oil traded internationally. Because it is shipped by sea, it reacts first to anything that affects tankers and export terminals.
Challenge
TradFi challenges
Listed on
Binance and Bybit
Max leverage
Up to 10× on the current plans
Quoted in
US dollars per barrel
Origin
North Sea
Prices
About two thirds of internationally traded crude
Trades around the clock. Activity peaks in New York hours, around the 09:00 to 14:30 New York time pit session, and thins out at weekends.
Gold, priced in US dollars per troy ounce: the market’s oldest store of value.
Gold pays no interest and cannot be printed, so it is held as protection: against inflation, against a weaker dollar and against crises. Central banks hold it as a reserve and have been steady buyers in recent years.
Challenge
TradFi challenges
Listed on
Binance and Bybit
Max leverage
Up to 10× on the current plans
Quoted in
US dollars per troy ounce
Main buyers
Central banks, funds, jewellery
Benchmark
London spot and COMEX futures
Trades around the clock. It is most active from the London morning through the New York afternoon, and quietest in late US hours and at weekends.
Silver follows gold as a store of value, but about half of its demand comes from industry: solar panels, electronics and electric vehicles. That makes it sensitive both to investor fear and to the health of manufacturing.
Challenge
TradFi challenges
Listed on
Binance and Bybit
Max leverage
Up to 10× on the current plans
Quoted in
US dollars per troy ounce
Demand
About half industrial
Watched against
Gold, through the gold-silver ratio
Trades around the clock. It is most active from the London morning through the New York afternoon, and quietest in late US hours and at weekends.
Platinum: a rare precious metal used mostly in cars and industry.
Platinum is far rarer than gold, and most of it comes from South Africa. Its largest use is in catalytic converters for diesel and hybrid vehicles, followed by jewellery, industry and investment.
Challenge
TradFi challenges
Listed on
Binance only
Max leverage
Up to 10× on the current plans
Quoted in
US dollars per troy ounce
Main source
South Africa
Largest use
Vehicle catalysts
Trades around the clock. It is most active from the London morning through the New York afternoon, and quietest in late US hours and at weekends.
Palladium: the metal that cleans petrol-engine exhaust.
Palladium’s use is even more concentrated than platinum’s: about four fifths goes into catalytic converters for petrol vehicles. Russia and South Africa produce most of it.
Challenge
TradFi challenges
Listed on
Binance only
Max leverage
Up to 10× on the current plans
Quoted in
US dollars per troy ounce
Main sources
Russia and South Africa
Largest use
Petrol-vehicle catalysts
Trades around the clock. It is most active from the London morning through the New York afternoon, and quietest in late US hours and at weekends.
Copper: the metal that wires the world, and a gauge of the global economy.
Copper goes into construction, power grids, electronics and electric vehicles, so demand for it rises and falls with industrial activity. China consumes about half of the world’s supply.
Challenge
TradFi challenges
Listed on
Binance only
Max leverage
Up to 10× on the current plans
Quoted in
US dollars per pound
Largest consumer
China
Main sources
Chile and Peru
Trades around the clock. It is most active from the London morning through the New York afternoon, and quietest in late US hours and at weekends.
US natural gas: the most weather-sensitive market on the shelf.
This is the price of natural gas at Henry Hub in Louisiana, the US benchmark. Gas heats homes in winter and fuels power plants in summer, so demand follows the weather, and storage levels show how tight the market is.
Challenge
TradFi challenges
Listed on
Binance only
Max leverage
Up to 10× on the current plans
Quoted in
US dollars per million BTU
Benchmark
Henry Hub, Louisiana
Key weekly figure
US storage, Thursday 10:30 New York
Trades around the clock. Activity peaks in New York hours, around the 09:00 to 14:30 New York time pit session, and thins out at weekends.
Which equity index perpetuals can I trade? 5 instruments
TradFi challenges trade 5 equity index perpetuals: Nasdaq 100 (QQQUSDT), S&P 500 (SPYUSDT), Russell 2000 (IWMUSDT), Japan equities (EWJUSDT) and South Korea equities (EWYUSDT). They are priced from Binance. Leverage on the current plans goes up to 10×.
Whole markets in one instrument, through the index funds that track them.
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Equity indices a QATS Prop challenge can trade, with exchange listing, maximum leverage and trading hours
The Nasdaq-100: the largest technology and growth companies in the United States.
QQQ tracks the hundred largest non-financial companies listed on Nasdaq. A handful of technology groups, the makers of chips, software and cloud services, account for close to half of it.
Challenge
TradFi challenges
Listed on
Binance and Bybit
Max leverage
Up to 10× on the current plans
Tracks
Nasdaq-100 index
Fund
Invesco QQQ Trust
Holdings
100 large non-financial Nasdaq companies
The perpetual trades around the clock, but it follows a market that is open 09:30 to 16:00 New York time. Outside those hours, and at weekends, the book is thinner and spreads are wider.
The S&P 500: five hundred of the largest American companies in one instrument.
SPY is the fund that tracks the S&P 500, the benchmark for the US stock market. Companies are weighted by size, so the largest technology groups carry the most influence.
Challenge
TradFi challenges
Listed on
Binance and Bybit
Max leverage
Up to 10× on the current plans
Tracks
S&P 500 index
Fund
SPDR S&P 500 ETF Trust
Holdings
About 500 large US companies
The perpetual trades around the clock, but it follows a market that is open 09:30 to 16:00 New York time. Outside those hours, and at weekends, the book is thinner and spreads are wider.
The Russell 2000: two thousand smaller American companies.
IWM tracks the Russell 2000, the benchmark for small US companies. Its members earn most of their revenue at home and borrow at floating rates, so they feel the domestic economy and the cost of credit more directly than large companies do.
Challenge
TradFi challenges
Listed on
Binance and Bybit
Max leverage
Up to 10× on the current plans
Tracks
Russell 2000 index
Fund
iShares Russell 2000 ETF
Holdings
About 2,000 small US companies
The perpetual trades around the clock, but it follows a market that is open 09:30 to 16:00 New York time. Outside those hours, and at weekends, the book is thinner and spreads are wider.
Japanese equities: the large and mid-sized companies of the world’s fourth-largest economy.
EWJ tracks the MSCI Japan index: car makers, electronics groups, trading houses and banks. It is priced in dollars, so the value of the yen is part of the return.
Challenge
TradFi challenges
Listed on
Binance and Bybit
Max leverage
Up to 10× on the current plans
Tracks
MSCI Japan index
Fund
iShares MSCI Japan ETF
Priced in
US dollars, so the yen matters
The perpetual trades around the clock, but the stocks inside the fund trade in Asian hours and the fund itself in New York hours, so news from either session can move it.
South Korean equities, led by the world’s largest makers of memory chips.
EWY tracks the MSCI South Korea index. Two memory-chip makers account for a very large share of it, alongside car makers, shipbuilders and battery producers, which makes the fund a concentrated bet on the chip cycle and on global trade.
Challenge
TradFi challenges
Listed on
Binance and Bybit
Max leverage
Up to 10× on the current plans
Tracks
MSCI South Korea index
Fund
iShares MSCI South Korea ETF
Largest sector
Semiconductors
The perpetual trades around the clock, but the stocks inside the fund trade in Asian hours and the fund itself in New York hours, so news from either session can move it.
Which US stock perpetuals can I trade? 16 instruments
TradFi challenges trade 16 US stock perpetuals: NVIDIA (NVDAUSDT), Tesla (TSLAUSDT), Alphabet (GOOGLUSDT), Meta (METAUSDT), SanDisk (SNDKUSDT), Micron (MUUSDT), Intel (INTCUSDT), Circle (CRCLUSDT), Strategy (MSTRUSDT), Apple (AAPLUSDT), Microsoft (MSFTUSDT), Amazon (AMZNUSDT), Broadcom (AVGOUSDT), Palantir (PLTRUSDT), Coinbase (COINUSDT) and Robinhood (HOODUSDT). They are priced from Binance. Leverage on the current plans goes up to 10×.
Single companies: larger moves than an index, and their own earnings calendar.
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Stocks a QATS Prop challenge can trade, with exchange listing, maximum leverage and trading hours
NVIDIA: the company whose chips run most of the world’s artificial intelligence.
NVIDIA designs the graphics processors and systems used to train and run AI models. Sales to data centres are by far its largest business, ahead of gaming and automotive chips.
Challenge
TradFi challenges
Listed on
Binance and Bybit
Max leverage
Up to 10× on the current plans
Listed on
Nasdaq
Sector
Semiconductors
Main business
AI and data-centre processors
The perpetual trades around the clock, but it follows a market that is open 09:30 to 16:00 New York time. Outside those hours, and at weekends, the book is thinner and spreads are wider.
Tesla: electric cars, energy storage and a large bet on autonomous driving.
Tesla earns most of its revenue from electric vehicles and a growing share from batteries for homes and power grids. Much of its valuation rests on businesses still in development: self-driving software, robotaxis and robots.
Challenge
TradFi challenges
Listed on
Binance and Bybit
Max leverage
Up to 10× on the current plans
Listed on
Nasdaq
Sector
Automobiles and energy
Key quarterly figure
Vehicle deliveries
The perpetual trades around the clock, but it follows a market that is open 09:30 to 16:00 New York time. Outside those hours, and at weekends, the book is thinner and spreads are wider.
Alphabet: Google search, YouTube and one of the three largest cloud platforms.
Alphabet earns most of its revenue from advertising on Google Search and YouTube, and a fast-growing share from Google Cloud. It also builds its own AI models and chips and owns the Waymo self-driving business.
Challenge
TradFi challenges
Listed on
Binance and Bybit
Max leverage
Up to 10× on the current plans
Listed on
Nasdaq
Sector
Internet services
Main businesses
Search, YouTube, Cloud
The perpetual trades around the clock, but it follows a market that is open 09:30 to 16:00 New York time. Outside those hours, and at weekends, the book is thinner and spreads are wider.
Meta: Facebook, Instagram and WhatsApp, funded by advertising.
Meta’s applications are used by more than three billion people a day, and almost all of its revenue comes from advertising shown to them. It spends heavily on AI infrastructure and on virtual and augmented reality.
Challenge
TradFi challenges
Listed on
Binance and Bybit
Max leverage
Up to 10× on the current plans
Listed on
Nasdaq
Sector
Social media and advertising
Main business
Advertising
The perpetual trades around the clock, but it follows a market that is open 09:30 to 16:00 New York time. Outside those hours, and at weekends, the book is thinner and spreads are wider.
SanDisk: flash memory for data centres, phones and computers.
SanDisk makes NAND flash memory and the drives built from it. It became an independent listed company in 2025, when it was separated from Western Digital.
Challenge
TradFi challenges
Listed on
Binance and Bybit
Max leverage
Up to 10× on the current plans
Listed on
Nasdaq
Sector
Semiconductors · memory
Independent since
2025
The perpetual trades around the clock, but it follows a market that is open 09:30 to 16:00 New York time. Outside those hours, and at weekends, the book is thinner and spreads are wider.
Micron: the largest American maker of memory chips.
Micron produces DRAM and NAND memory, including the high-bandwidth memory used alongside AI processors. It is one of only three large makers of DRAM in the world.
Challenge
TradFi challenges
Listed on
Binance and Bybit
Max leverage
Up to 10× on the current plans
Listed on
Nasdaq
Sector
Semiconductors · memory
Products
DRAM, NAND, high-bandwidth memory
The perpetual trades around the clock, but it follows a market that is open 09:30 to 16:00 New York time. Outside those hours, and at weekends, the book is thinner and spreads are wider.
Intel: the processor maker rebuilding itself as a chip manufacturer for others.
Intel designs the processors in most personal computers and many servers, and is one of the few companies that also manufactures its own chips. It is investing heavily to make chips for other companies too, with support from the US government.
Challenge
TradFi challenges
Listed on
Binance and Bybit
Max leverage
Up to 10× on the current plans
Listed on
Nasdaq
Sector
Semiconductors
Main products
PC and server processors
The perpetual trades around the clock, but it follows a market that is open 09:30 to 16:00 New York time. Outside those hours, and at weekends, the book is thinner and spreads are wider.
Circle: the company behind USDC, the second-largest dollar stablecoin.
Circle issues USDC, a digital dollar backed by cash and short-term US government debt. It earns the interest on those reserves, so its income depends on how many USDC are in circulation and on the level of short-term interest rates.
Challenge
TradFi challenges
Listed on
Binance and Bybit
Max leverage
Up to 10× on the current plans
Listed on
New York Stock Exchange
Sector
Financial technology
Product
USDC stablecoin
The perpetual trades around the clock, but it follows a market that is open 09:30 to 16:00 New York time. Outside those hours, and at weekends, the book is thinner and spreads are wider.
Strategy: a listed company that exists to hold bitcoin.
Strategy, formerly MicroStrategy, is the largest corporate holder of bitcoin. It raises money by selling shares and debt and uses it to buy more, so each share represents a claim on a growing pile of bitcoin.
Challenge
TradFi challenges
Listed on
Binance and Bybit
Max leverage
Up to 10× on the current plans
Listed on
Nasdaq
Formerly
MicroStrategy
Main asset
Bitcoin
The perpetual trades around the clock, but it follows a market that is open 09:30 to 16:00 New York time. Outside those hours, and at weekends, the book is thinner and spreads are wider.
Apple: the iPhone, and a growing business in services around it.
Apple earns about half of its revenue from the iPhone, and a rising share from services: the App Store, subscriptions and payments. Its devices are assembled mostly in Asia, and China is both a major market and a manufacturing base.
Challenge
TradFi challenges
Listed on
Binance and Bybit
Max leverage
Up to 10× on the current plans
Listed on
Nasdaq
Sector
Consumer technology
Main product
iPhone
The perpetual trades around the clock, but it follows a market that is open 09:30 to 16:00 New York time. Outside those hours, and at weekends, the book is thinner and spreads are wider.
Microsoft: business software and the second-largest cloud platform.
Microsoft sells the software most companies run on, and rents computing power through Azure, its cloud business. It is one of the largest investors in artificial intelligence, through its own products and its partnership with OpenAI.
Challenge
TradFi challenges
Listed on
Binance and Bybit
Max leverage
Up to 10× on the current plans
Listed on
Nasdaq
Sector
Software and cloud
Main businesses
Azure, Office, Windows
The perpetual trades around the clock, but it follows a market that is open 09:30 to 16:00 New York time. Outside those hours, and at weekends, the book is thinner and spreads are wider.
Amazon: the largest online retailer and the largest cloud platform.
Amazon sells goods and delivery to consumers, advertising to sellers and computing power to companies. Its cloud business, AWS, is a smaller share of revenue but the larger share of profit.
Challenge
TradFi challenges
Listed on
Binance and Bybit
Max leverage
Up to 10× on the current plans
Listed on
Nasdaq
Sector
E-commerce and cloud
Profit engine
AWS
The perpetual trades around the clock, but it follows a market that is open 09:30 to 16:00 New York time. Outside those hours, and at weekends, the book is thinner and spreads are wider.
Broadcom: custom AI chips and the networking that connects data centres.
Broadcom designs custom processors for the largest cloud companies and the networking chips that move data between servers. It also owns a large enterprise-software business.
Challenge
TradFi challenges
Listed on
Binance and Bybit
Max leverage
Up to 10× on the current plans
Listed on
Nasdaq
Sector
Semiconductors
Main businesses
Custom AI chips, networking, software
The perpetual trades around the clock, but it follows a market that is open 09:30 to 16:00 New York time. Outside those hours, and at weekends, the book is thinner and spreads are wider.
Palantir: data and AI software for governments and large companies.
Palantir builds software that lets organisations combine and analyse their data, and increasingly run AI on it. It began with defence and intelligence agencies and now earns a growing share from commercial customers.
Challenge
TradFi challenges
Listed on
Binance and Bybit
Max leverage
Up to 10× on the current plans
Listed on
Nasdaq
Sector
Software
Customers
Governments and large companies
The perpetual trades around the clock, but it follows a market that is open 09:30 to 16:00 New York time. Outside those hours, and at weekends, the book is thinner and spreads are wider.
Coinbase: the largest crypto exchange in the United States.
Coinbase earns fees when customers trade crypto, plus income from holding assets for funds, from staking and from its share of the interest on USDC reserves.
Challenge
TradFi challenges
Listed on
Binance and Bybit
Max leverage
Up to 10× on the current plans
Listed on
Nasdaq
Sector
Financial technology
Main income
Trading fees
The perpetual trades around the clock, but it follows a market that is open 09:30 to 16:00 New York time. Outside those hours, and at weekends, the book is thinner and spreads are wider.
Robinhood: the trading app of a generation of individual investors.
Robinhood offers commission-free trading in stocks, options and crypto, and earns from the order flow, from interest on customer balances and from subscriptions.
Challenge
TradFi challenges
Listed on
Binance and Bybit
Max leverage
Up to 10× on the current plans
Listed on
Nasdaq
Sector
Financial technology
Main income
Trading activity and interest
The perpetual trades around the clock, but it follows a market that is open 09:30 to 16:00 New York time. Outside those hours, and at weekends, the book is thinner and spreads are wider.
Which leveraged ETF perpetuals can I trade? 4 instruments
TradFi challenges trade 4 leveraged ETF perpetuals: Semiconductors 3x (SOXLUSDT), Semiconductors -3x (SOXSUSDT), South Korea 3x (KORUUSDT) and Nasdaq 100 3x (TQQQUSDT). They are priced from Binance. Leverage on the current plans goes up to 10×.
Funds that return three times the daily move of their index. Fast in both directions.
Swipe the table to see every column
Leveraged ETFs a QATS Prop challenge can trade, with exchange listing, maximum leverage and trading hours
Three times the daily move of the US semiconductor index.
SOXL is a fund built to return three times the daily performance of an index of large US-listed chip companies. If the index rises two percent in a day, the fund aims to rise six; if it falls two, the fund falls six.
Challenge
TradFi challenges
Listed on
Binance and Bybit
Max leverage
Up to 10× on the current plans
Aims for
+300% of the index’s daily move
Index
Large US-listed semiconductor companies
Issuer
Direxion
The perpetual trades around the clock, but it follows a market that is open 09:30 to 16:00 New York time. Outside those hours, and at weekends, the book is thinner and spreads are wider.
Three times the opposite of the daily move of the US semiconductor index.
SOXS is the mirror of SOXL: it is built to rise three percent for every one percent the chip index falls in a day, and to fall three percent for every one percent it rises.
Challenge
TradFi challenges
Listed on
Binance and Bybit
Max leverage
Up to 10× on the current plans
Aims for
−300% of the index’s daily move
Index
Large US-listed semiconductor companies
Issuer
Direxion
The perpetual trades around the clock, but it follows a market that is open 09:30 to 16:00 New York time. Outside those hours, and at weekends, the book is thinner and spreads are wider.
Three times the daily move of South Korean equities.
KORU is built to return three times the daily performance of an index of large South Korean companies, the same market the EWY fund tracks without leverage.
Challenge
TradFi challenges
Listed on
Binance and Bybit
Max leverage
Up to 10× on the current plans
Aims for
+300% of the index’s daily move
Index
Large South Korean companies
Issuer
Direxion
The perpetual trades around the clock, but the stocks inside the fund trade in Asian hours and the fund itself in New York hours, so news from either session can move it.
TQQQ is built to return three times the daily performance of the Nasdaq-100, the index the QQQ fund tracks without leverage. A one percent day in the index is about three percent here.
Challenge
TradFi challenges
Listed on
Binance and Bybit
Max leverage
Up to 10× on the current plans
Aims for
+300% of the index’s daily move
Index
Nasdaq-100
Issuer
ProShares
The perpetual trades around the clock, but it follows a market that is open 09:30 to 16:00 New York time. Outside those hours, and at weekends, the book is thinner and spreads are wider.
01Can I trade TradFi perpetual futures with a prop firm?
Yes. QATS Prop TradFi challenges trade 33 USDT perpetuals on gold, silver, oil, natural gas, copper, equity index funds, single US stocks and leveraged ETFs, priced from Binance. They trade around the clock and never expire.
02Which crypto pairs can I trade on a QATS Prop challenge?
Crypto challenges trade 17 USDT perpetuals, from Bitcoin and Ether to Solana, XRP, Dogecoin and Hyperliquid, on Binance or Bybit prices, 24/7.
03What leverage does QATS Prop allow?
Up to 20× on BTC and ETH and up to 10× on every other listed instrument, chosen per order. The account’s loss limits still apply to every position.
04Do QATS Prop positions pay funding?
Yes. Perpetual positions pay or receive the exchange funding rate at its funding times, and the amount is part of the position’s P&L.
05Is trading paused at weekends or around news?
No. Current plans have no session close, weekend close or news blackout. Trading is limited only by the daily loss limit and the maximum loss of the plan.
Educational content, not investment advice. The instrument descriptions explain what each market is and do not forecast prices. Evaluation and Funded accounts are simulated; Live Funded is real capital by separate review. Which instruments an account can trade is set by its plan and checked on every order.
Bitcoin BTCUSDT
Ether ETHUSDT
Solana SOLUSDT
XRP XRPUSDT
BNB BNBUSDT
Dogecoin DOGEUSDT
Cardano ADAUSDT
Avalanche AVAXUSDT
Chainlink LINKUSDT
Litecoin LTCUSDT
Zcash ZECUSDT
Hyperliquid HYPEUSDT
Sui SUIUSDT
NEAR Protocol NEARUSDT
Uniswap UNIUSDT
Aave AAVEUSDT
Ethena ENAUSDT
Crude Oil WTI CLUSDT
Brent Crude BZUSDT
Gold XAUUSDT
Silver XAGUSDT
Platinum XPTUSDT
Palladium XPDUSDT
Copper COPPERUSDT
Natural Gas NATGASUSDT
Nasdaq 100 (QQQ) QQQUSDT
S&P 500 (SPY) SPYUSDT
Russell 2000 (IWM) IWMUSDT
Japan equities (EWJ) EWJUSDT
South Korea equities (EWY) EWYUSDT
NVIDIA NVDAUSDT
Tesla TSLAUSDT
Alphabet GOOGLUSDT
Meta METAUSDT
SanDisk SNDKUSDT
Micron MUUSDT
Intel INTCUSDT
Circle CRCLUSDT
Strategy (MSTR) MSTRUSDT
Apple AAPLUSDT
Microsoft MSFTUSDT
Amazon AMZNUSDT
Broadcom AVGOUSDT
Palantir PLTRUSDT
Coinbase COINUSDT
Robinhood HOODUSDT
Semiconductors 3x (SOXL) SOXLUSDT
Semiconductors -3x (SOXS) SOXSUSDT
South Korea 3x (KORU) KORUUSDT
Nasdaq 100 3x (TQQQ) TQQQUSDT