MetaMask Launches Perpetual Trading on Mobile: Full Guide to Trade Like a Pro

MetaMask Launches In-App Perpetual Trading: A New Era for Wallets and Airdrop Hopes

MetaMask, the widely used noncustodial crypto wallet by Consensys, has taken a bold step beyond basic wallet functionality. On October 8, 2025, the team rolled out perpetual futures trading (Perps) directly within its mobile app, powered by Hyperliquid. Alongside this, MetaMask announced a new rewards program—fueling speculation that a long-anticipated MetaMask airdrop could follow.

Source: WatcherGuru X Account

With over $30 million in rewards, up to 40× leverage, and plans for integration with Polymarket on the horizon, the wallet is evolving into a full DeFi platform—not just a tool for holding assets.

From Wallet to Trading Hub: What’s New in MetaMask Perps

MetaMask’s new Perps feature allows users to trade derivatives without leaving their wallet. This marks one of the first times a self-custodial wallet integrates leveraged perpetuals in a seamless, mobile-first experience.

Previously, perpetual contracts were mostly accessible via centralized exchanges or specialized decentralized platforms. But now, MetaMask users can access them natively.

Source: MetaMask.ETH X Account

Key features of MetaMask’s Perps implementation include:

• Lightning-fast execution and low latency, optimized for mobile trading.

• One-click funding from any Ethereum Virtual Machine (EVM) chain: deposit any compatible token, and it is converted automatically for Perps trading.

• Zero swap fees on Perps trades within the wallet.

• Self-custody control—you retain control of assets at all times. There’s no custodial handoff.

• Leverage up to 40×, enabling both long and short positions.

• Support for 150+ tokens, including major ones like ETH, BTC, and native tokens such as Linea.

According to MetaMask’s announcement, the upgrade reduces friction by eliminating the need to switch between apps, bridge funds, or manage multiple platforms.

MetaMask also emphasizes that perpetual futures represent about 75% of total crypto trading volume, yet historically have been locked behind centralized platforms. This launch bridges that gap in permissioned regions.

MetaMask Rewards & Token Plans: Airdrop Talk Returns

The rollout of Perps is accompanied by a new MetaMask Rewards system, debuting later in October in regions where the service is permitted.

The rewards program is structured in three-month seasons. In Season 1, users will be able to accrue points through various actions:

• Trading perpetuals

• Swapping tokens

• Referrals

• (Later) using the MetaMask Card

• Holding stablecoin mUSD in wallet balances

Rewards and perks in Season 1 include:

• More than $30 million in LINEA token allocations

• Fee discounts on perpetual trades

• Priority customer support

• Time-limited point multipliers

• A free one-year subscription to MetaMask Metal Card

Importantly, points earned in the first season will carry over into subsequent ones, creating incentive to participate early.

While MetaMask has not yet formally launched a token called $MASK, this rewards program is viewed by many in the crypto space as a precursor to the token launch and possible airdrops.

How to Use MetaMask Perps: A Step-by-Step Guide

Getting started with perpetual trading inside MetaMask is designed to be intuitive:

1. Update your MetaMask mobile app (ensure version supports Perps).

2. Open the app and tap the Perps tab (or navigate via home interface).

3. Fund your Perps account by depositing any EVM-compatible token (e.g. ETH, USDC, mUSD). The system will convert it to USDC for use. No swap fees apply.

4. Select a trading pair from 150+ supported tokens.

5. Decide long (if expecting price rise) or short (if expecting a drop).

6. Set your leverage (up to 40×) and optional stop-loss/take-profit parameters.

7. Submit the trade—it executes in seconds.

8. Monitor your position with live charts and real-time updates.

9. Close anytime—profits or losses are settled back into your wallet.

Because this is self-custodial, you always retain control of your assets. The internal design removes much of the friction typical of external DEX or centralized derivatives setups.

The Strategic Significance & Future Moves

MetaMask’s push into perpetual trading, coupled with rewards, signals a clear shift in its strategy. No longer just a wallet, it’s positioning itself as a DeFi super app—a hub for holding, trading, earning, speculating, and more—all without leaving the wallet’s interface.

A major upcoming integration is with Polymarket, a prediction market platform. Later this year (in permitted jurisdictions), users will be able to trade on outcomes—such as politics, sports, or events—directly within MetaMask.

This integration further blurs the lines between finance and speculation. By embedding derivatives and prediction markets, MetaMask is aligning itself with a future vision of one-stop, composable finance.

The expected token (often discussed as MASK) will likely tie into this ecosystem, granting governance and incentives to active participants. The rewards system is seen as the foundational mechanism to seed token distribution.

Risks, Challenges, and User Considerations

Even though the launch is ambitious and promising, users should be aware of risks:

• Leverage danger: High leverage magnifies both gains and losses. An adverse price move can lead to liquidation quickly.

• Regional restrictions: Perps trading and rewards may only be available in certain jurisdictions.

• Token uncertainty: While the $MASK token is widely anticipated, its details—supply, distribution, utility—remain speculative.

• Smart contract risk: Integrating trading within a wallet is complex; any bugs or vulnerabilities could pose risk to funds.

• Competition & adoption: Centralized exchanges still dominate derivatives. MetaMask must deliver reliable UX and liquidity to win user trust.

What This Means for Users & the Broader DeFi Ecosystem

For MetaMask users, the new Perps feature offers immediate benefits:

• Reduced steps between wallet and trading

• No need for external exchanges or bridges

• Direct access to derivatives markets with self-custody

• Early opportunity to earn rewards and be ahead for potential airdrop

For the DeFi space, this could mark a turning point in how users interact with derivatives. Embedding advanced trading inside widely adopted wallets brings derivatives access closer to everyday users.

This might challenge centralized exchanges, especially in regions where DeFi adoption is strong. If MetaMask’s UX is smooth and rewards attractive, it may pull liquidity and user attention away from traditional platforms. Indeed, commentary from industry observers already frames this integration as a competitive move vs CEXs.

Conclusion

MetaMask’s addition of perpetual trading marks a bold evolution. What began as a wallet is transforming into a multifaceted DeFi platform—offering trading, prediction markets, rewards, and possibly a native token. The integration with Hyperliquid, the generous rewards pool, and hinted Polymarket integration point to a long-term vision of user-first decentralized finance.

If you’re a user of MetaMask, updating the app and participating early in Season 1 could unlock significant advantages—and potentially position you favorably for any airdrop that follows.

Writer @Ellena

Erlin is an experienced crypto writer who loves to explore the intersection of blockchain technology and financial markets. She regularly provides insights into the latest trends and innovations in the digital currency space.

 

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