Perpetual Futures vs 0DTE Options
Cboe Global MarketsCrypto derivatives are moving into the regulated mainstream. Following the 2024 launch of spot Bitcoin ETFs, the CFTC approved Kalshi's Bitcoin perpetual futures contract on May 29, 2026, marking the first time this crypto product has landed on a regulated U.S. exchange. A recent comparison of perpetual futures to "zero day options" has prompted investor questions about how perpetuals stack up against 0DTE options. Cboe's latest Volatility Insights report argues the comparison breaks down once you look past leverage and into payoff structure, risk, and actual investor behavior. Download the paper: https://bit.ly/4xk9fPb