PerpEquities

Equity · Technology

AppLovin Corporation (APP) perpetual futures

APP perpetual futures on 13 crypto exchanges – live perp price vs the stock, funding rate, open interest and where to trade APPUSDT.

AppLovin Corporation provides a software platform for mobile app developers to enhance marketing and revenue, with products like AppDiscovery, Adjust, and MAX.

$321.65+2.2%NASDAQ closed
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Collecting venue price data...
venue perp mark · Bybit (APPSTOCK/USDT)
Auto: highest-volume live perp venueOpen in TradingView

Trading data

Perpetual market activity

13/13 live markets
Venues
13
Live markets
13/13
24h volume
$1.6MCoverage: 11/13 marketsExchange-reported volume: $5.7M
Open interest
$54.9MCoverage: 11/13 markets
Best liquidity
$659.2K
Bitget
Tightest spread
+3.1 bps
Bitunix
Highest volume
$349.2K
Binance
Settlement mix
USDT · 11/13
Perp/spot vol.
0.00x
Spot volume $1.2B
OI / float
+0.07%
Float $82.2B
Spot performance
1D+2.23%
5D+1.68%
1M-4.50%
6M-36.16%
YTD-52.43%
1Y-41.40%

Venue matrix

13 markets

Some venue links are sponsored. We may receive a commission, and eligible users may occasionally receive trading-fee discounts, at no additional cost to you.

Trade
BybitTradeAPPSTOCK/USDTTrading$321.320.0% APR
0.000% every 8h
+10.6 bps$11.7K$2.9M$301.2KUSDT25x
BingXTradeAPP-USDTTrading$321.24+5.5% APR
+0.00500% every 8h
+17.7 bps$115K$1.2M$321.2KUSDT-
BinanceTradeAPP/USDTTrading$321.230.0% APR
0.000% every 8h
+9.7 bps$105.9K$349.2K$2.3MUSDT-
XT.comTradeAPP/USDTTrading$321.47-11.1% APR
-0.010% every 8h
+9.6 bps$168.6K$320.6K$49.6MUSDT25x
HTXTradeAPP/USDTTrading$321.280.0% APR
0.000% every 8h
+83.4 bps$176.9K$246.6K$8KUSDT-
Gate.ioTradeAPP/USDTTrading$321.100.0% APR
0.000% every 8h
+18.7 bps$6.1K$242K$853.4KUSDT25x
LBankTradeAPP/USDTTrading$321.320.0% APR
0.000% every 8h
+9.7 bps$48.2K$125K-USDT50x
OKXTradeAPP/USDTTrading$321.400.0% APR
0.000% every 8h
+18.7 bps$10K$91.6K$424.5KUSDT25x
BitunixTradeAPP/USDTTrading$321.24-10.1% APR
-0.00925% every 8h
+3.1 bps$251.3K$85.4K-USDT25x
MEXCTradeAPP/USDTTrading$326.680.0% APR
0.000% every 8h
+39.5 bps$3.7K$70.2K$500.5KUSDT20x
BitgetTradeAPP/USDTTrading$321.650.0% APR
0.000% every 8h
+8.7 bps$659.2K$27.1K$606.8KUSDT20x
Crypto.com ExchangeTradeAPP/USDTrading$316.39+5.0% APR
+0.00057% every 1h
+19.3 bps$3.2K$0$313.2USD50x
ExtendedTradeAPP/USDTrading$320.49+4.4% APR
+0.00050% every 1h
+604.4 bps$0$0$17.3KUSD10x

Tradability

Execution quality

Broad liquidity · 9 of 13 venues absorb $10k · Typical cost: +16.7 bps – +64.3 bps

Cheapest execution: Bitget · +11.3 bps

Too thin: Gate.io, MEXC, Crypto.com Exchange

No fresh book data: Extended

Taker execution estimate incl. approx. fees - maker fills are not guaranteed.

Best venues for this underlying

Best liquidity

APP

Tightest spread

APP

Highest volume

APP

Funding history

Stored venue snapshots by market

Company data

Company fundamentals

Updated 1h ago
Market cap
$107.7B
Updated 1h ago
Revenue
$6.8B
Trailing 12 months
Revenue growth
+49%
Next fiscal year
Profit margin
+64.6%
P/E
24.5
Peer P/E 19.7
Free cash flow
$4.5B
Trailing 12 months
More metrics
Net income
$4.4B
Trailing 12 months
P/S
15.8
Peer P/E
19.7
Similar listed perps
Revenue estimate
$8.2B
Next fiscal year
Earnings
2026-11-04
Revenue est. $2.1B · Updated 1h ago
Dividend
-

Fundamental detail

Annual + quarterly
Latest revenue$5.5B
Net margin+60.8%
Free cash flow$3.9B
Net debt$1.1B
2020$1.5B
2021$2.8B
2022$2.8B
2023$1.8B
2024$3.2B
2025$5.5B
PeriodRevenueGrowthNet incomeFCF
2020$1.5B+46%-$125.2M$219.6M
2021$2.8B+92%$35.4M$360.5M
2022$2.8B+1%-$192.7M$412.1M
2023$1.8B-35%$357.2M$1.1B
2024$3.2B+75%$1.6B$2.1B
2025$5.5B+70%$3.3B$3.9B
PeriodGross marginOperating marginNet marginROEROA
2020+61.7%-4.3%-8.6%+79.0%-5.8%
2021+64.6%+5.4%+1.3%+1.7%+0.6%
2022+55.4%-1.7%-6.8%-10.1%-3.3%
2023+80.6%+41.9%+19.4%+28.4%+6.7%
2024+83.9%+59.3%+49.0%+145.0%+26.9%
2025+87.9%+75.8%+60.8%+156.2%+45.9%
PeriodCashDebtNet debtCurrent ratio
2020$317.2M$1.7B$1.4B1.11
2021$1.5B$3.3B$1.8B5.05
2022$1.1B$3.3B$2.2B3.35
2023$502.2M$3.2B$2.7B1.71
2024$741.4M$3.6B$2.8B2.19
2025$2.5B$3.5B$1.1B3.32
PeriodMarket capEnterprise valueP/SP/E
2020$14B$15.4B9.7-112.4
2021$30.6B$32.4B11.0965.8
2022$3.9B$6.1B1.4-20.2
2023$14B$16.7B7.639.5
2024$109.1B$111.9B33.869.2
2025$228.3B$229.3B41.768.5
Q3 2024$835.2M
Q4 2024$1.4B
Q1 2025$1.2B
Q2 2025$1.3B
Q3 2025$1.4B
Q4 2025$1.7B
Q1 2026$1.8B
Q2 2026$1.9B
PeriodRevenueGrowthNet incomeFCF
Q3 2024$835.2M-3%$434.4M$547.5M
Q4 2024$1.4B+44%$599.2M$696.2M
Q1 2025$1.2B+10%$576.4M$831.7M
Q2 2025$1.3B+77%$819.5M$772.2M
Q3 2025$1.4B+68%$835.5M$1.1B
Q4 2025$1.7B+21%$1.1B$1.3B
Q1 2026$1.8B+59%$1.2B$1.3B
Q2 2026$1.9B+53%$1.3B$869M
PeriodGross marginOperating marginNet marginROEROA
Q3 2024+85.5%+64.0%+52.0%+46.3%+8.0%
Q4 2024+76.7%+44.3%+43.6%+55.0%+10.2%
Q1 2025+86.9%+72.5%+49.7%+100.2%+10.1%
Q2 2025+87.7%+76.1%+65.1%+70.2%+13.8%
Q3 2025+87.6%+76.8%+59.5%+56.7%+13.2%
Q4 2025+88.9%+76.9%+66.5%+51.6%+15.2%
Q1 2026+88.9%+78.2%+65.4%+51.0%+15.6%
Q2 2026+88.3%+77.7%+65.8%+40.0%+15.3%
PeriodCashDebtNet debtCurrent ratio
Q3 2024$567.6M$3.5B$2.9B2.41
Q4 2024$741.4M$3.6B$2.8B2.19
Q1 2025$551M$3.7B$3.2B1.68
Q2 2025$1.2B$3.5B$2.3B2.74
Q3 2025$1.7B$3.5B$1.8B3.25
Q4 2025$2.5B$3.5B$1.1B3.32
Q1 2026$2.8B$3.5B$755.4M3.24
Q2 2026$3.1B$3.5B$461.8M4.30
PeriodMarket capEnterprise valueP/SP/E
Q3 2024$44B$46.9B52.725.3
Q4 2024$109.8B$112.6B80.045.7
Q1 2025$90B$93.2B77.739.0
Q2 2025$118.5B$120.9B94.236.2
Q3 2025$243.2B$245.1B173.172.7
Q4 2025$227.9B$228.9B137.451.7
Q1 2026$134.3B$135B72.927.9
Q2 2026$173.4B$173.9B90.234.2
Historical value series
Revenue
Q3 2023: $864.3MQ4 2023: $953.3MQ1 2024: $1.1BQ2 2024: $711MQ3 2024: $835.2MQ4 2024: $1.4BQ1 2025: $1.2BQ2 2025: $1.3BQ3 2025: $1.4BQ4 2025: $1.7BQ1 2026: $1.8BQ2 2026: $1.9BQ3 2023Q2 2026
Net income
Q3 2023: $108.6MQ4 2023: $172.2MQ1 2024: $236.2MQ2 2024: $310MQ3 2024: $434.4MQ4 2024: $599.2MQ1 2025: $576.4MQ2 2025: $819.5MQ3 2025: $835.5MQ4 2025: $1.1BQ1 2026: $1.2BQ2 2026: $1.3BQ3 2023Q2 2026
EBITDA
Q3 2023: $309.6MQ4 2023: $369.6MQ1 2024: $454.8MQ2 2024: $500.8MQ3 2024: $642.3MQ4 2024: $737.2MQ1 2025: $927.4MQ2 2025: $982.5MQ3 2025: $1.1BQ4 2025: $1.3BQ1 2026: $1.5BQ2 2026: $1.6BQ3 2023Q2 2026
Free cash flow
Q3 2023: $185.6MQ4 2023: $350.3MQ1 2024: $392.8MQ2 2024: $454.5MQ3 2024: $547.5MQ4 2024: $696.2MQ1 2025: $831.7MQ2 2025: $772.2MQ3 2025: $1.1BQ4 2025: $1.3BQ1 2026: $1.3BQ2 2026: $869MQ3 2023Q2 2026
EPS
Q3 2023: $0.3Q4 2023: $0.49Q1 2024: $0.67Q2 2024: $0.89Q3 2024: $1.25Q4 2024: $1.73Q1 2025: $1.67Q2 2025: $2.39Q3 2025: $2.45Q4 2025: $3.24Q1 2026: $3.56Q2 2026: $3.76Q3 2023Q2 2026
Cash / Debt
Q3 2023 · Cash: $332.5MQ3 2023 · Debt: $3.2BQ4 2023 · Cash: $502.2MQ4 2023 · Debt: $3.2BQ1 2024 · Cash: $436.3MQ1 2024 · Debt: $3.5BQ2 2024 · Cash: $460.4MQ2 2024 · Debt: $3.5BQ3 2024 · Cash: $567.6MQ3 2024 · Debt: $3.5BQ4 2024 · Cash: $741.4MQ4 2024 · Debt: $3.6BQ1 2025 · Cash: $551MQ1 2025 · Debt: $3.7BQ2 2025 · Cash: $1.2BQ2 2025 · Debt: $3.5BQ3 2025 · Cash: $1.7BQ3 2025 · Debt: $3.5BQ4 2025 · Cash: $2.5BQ4 2025 · Debt: $3.5BQ1 2026 · Cash: $2.8BQ1 2026 · Debt: $3.5BQ2 2026 · Cash: $3.1BQ2 2026 · Debt: $3.5BQ3 2023Q2 2026
CashDebt
Profitability
Q3 2023 · Gross margin: +69.3%Q4 2023 · Gross margin: +71.3%Q1 2024 · Gross margin: +72.2%Q2 2024 · Gross margin: +82.9%Q3 2024 · Gross margin: +85.5%Q4 2024 · Gross margin: +76.7%Q1 2025 · Gross margin: +86.9%Q2 2025 · Gross margin: +87.7%Q3 2025 · Gross margin: +87.6%Q4 2025 · Gross margin: +88.9%Q1 2026 · Gross margin: +88.9%Q2 2026 · Gross margin: +88.3%Q3 2023 · Operating margin: +21.6%Q4 2023 · Operating margin: +28.3%Q1 2024 · Operating margin: +32.1%Q2 2024 · Operating margin: +54.1%Q3 2024 · Operating margin: +64.0%Q4 2024 · Operating margin: +44.3%Q1 2025 · Operating margin: +72.5%Q2 2025 · Operating margin: +76.1%Q3 2025 · Operating margin: +76.8%Q4 2025 · Operating margin: +76.9%Q1 2026 · Operating margin: +78.2%Q2 2026 · Operating margin: +77.7%Q3 2023 · Net margin: +12.6%Q4 2023 · Net margin: +18.1%Q1 2024 · Net margin: +22.3%Q2 2024 · Net margin: +43.6%Q3 2024 · Net margin: +52.0%Q4 2024 · Net margin: +43.6%Q1 2025 · Net margin: +49.7%Q2 2025 · Net margin: +65.1%Q3 2025 · Net margin: +59.5%Q4 2025 · Net margin: +66.5%Q1 2026 · Net margin: +65.4%Q2 2026 · Net margin: +65.8%Q3 2023Q2 2026
Gross marginOperating marginNet margin
Revenue growth
Q2 2024: -5.2%Q3 2024: -3.4%Q4 2024: +44.0%Q1 2025: +9.5%Q2 2025: +77.0%Q3 2025: +68.2%Q4 2025: +20.8%Q1 2026: +59.0%Q2 2026: +52.8%Q3 2023Q2 2026
Shares outstanding
Q3 2023: 356.9MQ4 2023: 347.5MQ1 2024: 348.6MQ2 2024: 348MQ3 2024: 348.2MQ4 2024: 346.4MQ1 2025: 344.9MQ2 2025: 342.2MQ3 2025: 341MQ4 2025: 339.9MQ1 2026: 338.7MQ2 2026: 337.9MQ3 2023Q2 2026
Valuation
Q3 2023 · P/E: 31.2Q4 2023 · P/E: 19.5Q1 2024 · P/E: 24.7Q2 2024 · P/E: 23.0Q3 2024 · P/E: 25.3Q4 2024 · P/E: 45.7Q1 2025 · P/E: 39.0Q2 2025 · P/E: 36.2Q3 2025 · P/E: 72.7Q4 2025 · P/E: 51.7Q1 2026 · P/E: 27.9Q2 2026 · P/E: 34.2Q3 2023 · P/S: 15.8Q4 2023 · P/S: 14.1Q1 2024 · P/S: 21.9Q2 2024 · P/S: 40.0Q3 2024 · P/S: 52.7Q4 2024 · P/S: 80.0Q1 2025 · P/S: 77.7Q2 2025 · P/S: 94.2Q3 2025 · P/S: 173.1Q4 2025 · P/S: 137.4Q1 2026 · P/S: 72.9Q2 2026 · P/S: 90.2Q3 2023Q2 2026
P/EP/S
Revenue
2018: $483.4M2019: $994.1M2020: $1.5B2021: $2.8B2022: $2.8B2023: $1.8B2024: $3.2B2025: $5.5B20182025
Net income
2018: -$260M2019: $119M2020: -$125.2M2021: $35.4M2022: -$192.7M2023: $357.2M2024: $1.6B2025: $3.3B20182025
EBITDA
2018: $247.7M2019: $293M2020: $197.1M2021: $580.5M2022: $513.8M2023: $1.3B2024: $2.4B2025: $4.4B20182025
Free cash flow
2018: $137.6M2019: $195.1M2020: $219.6M2021: $360.5M2022: $412.1M2023: $1.1B2024: $2.1B2025: $3.9B20182025
EPS
2018: -$1.372019: $0.362020: -$0.582021: $0.092022: -$0.522023: $0.982024: $4.532025: $9.7520182025
Cash / Debt
2018 · Cash: $276.1M2018 · Debt: $796.1M2019 · Cash: $396.2M2019 · Debt: $1.2B2020 · Cash: $317.2M2020 · Debt: $1.7B2021 · Cash: $1.5B2021 · Debt: $3.3B2022 · Cash: $1.1B2022 · Debt: $3.3B2023 · Cash: $502.2M2023 · Debt: $3.2B2024 · Cash: $741.4M2024 · Debt: $3.6B2025 · Cash: $2.5B2025 · Debt: $3.5B20182025
CashDebt
Profitability
2018 · Gross margin: +88.9%2019 · Gross margin: +75.7%2020 · Gross margin: +61.7%2021 · Gross margin: +64.6%2022 · Gross margin: +55.4%2023 · Gross margin: +80.6%2024 · Gross margin: +83.9%2025 · Gross margin: +87.9%2018 · Operating margin: +50.2%2019 · Operating margin: +19.6%2020 · Operating margin: -4.3%2021 · Operating margin: +5.4%2022 · Operating margin: -1.7%2023 · Operating margin: +41.9%2024 · Operating margin: +59.3%2025 · Operating margin: +75.8%2018 · Net margin: -53.8%2019 · Net margin: +12.0%2020 · Net margin: -8.6%2021 · Net margin: +1.3%2022 · Net margin: -6.8%2023 · Net margin: +19.4%2024 · Net margin: +49.0%2025 · Net margin: +60.8%20182025
Gross marginOperating marginNet margin
Revenue growth
2019: +105.7%2020: +46.0%2021: +92.5%2022: +0.9%2023: -34.6%2024: +75.1%2025: +70.0%20182025
Shares outstanding
2018: 189.5M2019: 212.4M2020: 214.9M2021: 342.8M2022: 371.6M2023: 362.6M2024: 347.8M2025: 342M20182025
Valuation
2018 · P/E: -47.62019 · P/E: 181.12020 · P/E: -112.42021 · P/E: 965.82022 · P/E: -20.22023 · P/E: 39.52024 · P/E: 69.22025 · P/E: 68.52018 · P/S: 25.62019 · P/S: 13.92020 · P/S: 9.72021 · P/S: 11.02022 · P/S: 1.42023 · P/S: 7.62024 · P/S: 33.82025 · P/S: 41.720182025
P/EP/S

Refreshed 1h ago

Next catalyst

Catalysts

Earnings
2026-11-04
Revenue est. $2.1B · Updated 1h ago

No unusual perp activity right now.

Research data

Analysts, filings and peer context

Estimates

6
DateEPS estimateRevenue estimateGrowthAnalysts
FY 202615.80$8.2B+49%21
FY 202720.26$10.4B+89%21
FY 202825.83$12.9B+135%15
FY 202925.78$13.5B+146%9
FY 203029.78$15.2B+177%6
Q1 20274.69$2.4B+29%8

Company events

6
2026-11-04EarningsActual - / Estimate 4.04-
2026-08-05EarningsActual 3.76 / Estimate 3.76In line
2026-05-06EarningsActual 3.56 / Estimate 3.4Beat
2026-02-11EarningsActual 3.24 / Estimate 2.95Beat
2025-11-05EarningsActual 2.45 / Estimate 2.38Beat
2025-08-06EarningsActual 2.26 / Estimate 1.96Beat

Peer comparison

Similar listed perps

FMP company data

Company intelligence

Updated: Sep 6, 2026, 02:42 PM UTC

Company profile

Sector
Technology
Industry
Software - Application
Chief executive
Adam Arash Foroughi
Employees
887
IPO date
Apr 15, 2021
Country
US
Exchange
NASDAQ Global Select
Website
Altman Z-scorei16.42
Piotroski scorei8/9
FMP ratingiB
Owner earningsi$903.97M$2.68 per share
ESG risk ratingiBIndustry rank: 70 out of 299

Rating factors

Return on equityi
5
Return on assetsi
5
Debt to equityi
1
Price to earningsi
2
Price to booki
1
Market cap history
2026-06-082026-09-04Latest: $107.90BHigh: $190.50BLow: $104.93B
Largest fund holders
FundWeightShares held
VTI0.15%8.8M
VOO0.17%7.1M
QQQ0.43%6.5M
FXAIX0.17%4.4M
IVV0.13%3.6M
FBGKX1.13%3.6M
SPY0.13%3.3M
VUG0.32%3M
FZAHX2.56%2.7M
VCPA.S0.05%2.1M
FDGRX0.65%1.9M
VIIIX0.17%1.5M

Frequently asked questions

Where can I trade APP perpetual futures?

AppLovin Corporation (APP) perpetual futures trade on 13 crypto venues, including Bybit, BingX, Binance. PerpEquities compares them by live price, funding rate, open interest and liquidity.

Can I trade APP around the clock?

Yes. Unlike the underlying stock, APP perpetuals trade 24/7 — including weekends and outside regular market hours.

What is the funding rate on APP perpetuals?

Right now the APP perp funding rate is 0.0% annualized (venue median), ranging from -11.1% to +5.5% across 13 venues. A positive rate means longs pay shorts. PerpEquities shows the live rate and its history for every venue.

How does the APP perp price compare to the AppLovin Corporation stock?

The venue-median APP perp mark is $321.3 versus a reference stock price of $321.7, a basis of -0.1%. Perps follow the stock through an index price; the gap widens when funding or liquidity diverge between venues.

What is a APP perpetual future?

A APP perpetual is a derivative that tracks the price of AppLovin Corporation with no expiry date. It lets you take long or short exposure to AppLovin Corporation on crypto venues, around the clock.

What is APPUSDT perpetual?

APPUSDT is the symbol most crypto exchanges use for the AppLovin Corporation perpetual settled in USDT (Tether). It tracks the APP share price through an index, trades 24/7 with leverage and never expires.

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