TON futures: trade Toncoin perpetuals with leverage
TON futures are perpetual contracts on the price of Toncoin, settled in USDT and tradable long or short with leverage. Tonly lists them inside Telegram and in the browser, with USDT deposits over the TON network and no KYC.
Why traders use TON perpetuals
Toncoin is the asset most closely tied to Telegram's ecosystem, and its volatility around ecosystem news is exactly what a perpetual contract is built to trade.
A perpetual lets you express a view in both directions without moving Toncoin between wallets: collateral stays in USDT, and the contract tracks the TON mark price.
How the TON contract works
The market is quoted as TONUSDT. Margin, PnL, fees and funding are all denominated in USDT, so the size of your position does not change when the TON price does.
Funding settles every 8 hours between longs and shorts, which is what keeps the perpetual price close to spot without an expiry date.
Maximum leverage is published per market. Higher leverage means the liquidation price sits closer to the entry — it is a distance setting, not a profit setting.
Deposits over the TON network
Connect a TON wallet through TON Connect and transfer USDT (Jetton). Confirmation is a matter of seconds on TON and the balance becomes tradable margin automatically.
Telegram Stars top-ups convert to USDT on the balance and behave the same way: tradable and withdrawable.
Beyond TON: the rest of the board
The same terminal lists perpetuals on BTC, ETH, SOL, XRP and roughly a hundred other markets, each with its own chart, depth, funding and token information tab.
Positions across markets share one USDT balance, so rotating between TON and majors does not require moving funds.
Frequently asked questions
- Where can I trade TON futures?
- Tonly lists TONUSDT perpetuals inside Telegram as a Mini App and on the web at tonly.app, with USDT margin on the TON network.
- What leverage is available on TON?
- Each market publishes its own maximum, up to 125x on Tonly. Sustainable trading usually uses a small fraction of the maximum.
- Do I need KYC to trade Toncoin futures?
- No. You connect a TON wallet, deposit USDT and trade; there is no identity verification step.
- Is Toncoin the only TON-ecosystem market?
- No — the board also lists other ecosystem assets alongside majors, all margined in the same USDT balance.