PerpEquities

Equity

Cypherpunk Technologies Inc. (CYPH) perpetual futures

CYPH perpetual futures on 17 crypto exchanges – live perp price vs the stock, funding rate, open interest and where to trade CYPHUSDT.

Cypherpunk Technologies Inc. is a privacy-focused technology company combining a digital asset treasury strategy centered on Zcash (ZEC) with the development of novel cancer therapies through its subsidiary.

$2.36-6.4%NASDAQ open
Open in terminal

Price chart

Interactive TradingView chart

TradingView symbol NASDAQ:CYPH

Loads TradingView's third-party widget (about 1 MB) on demand.

Auto: underlying reference priceOpen in TradingView

Trading data

Perpetual market activity

17/17 live markets
Venues
17
Live markets
17/17
24h volume
$6.7MCoverage: 12/17 marketsExchange-reported volume: $12.7M
Open interest
$15.5MCoverage: 15/17 markets
Best liquidity
$1.2M
Deepcoin
Tightest spread
+4.2 bps
Bitunix
Highest volume
$4.2M
Deepcoin
Settlement mix
USDT · 16/17
Perp/spot vol.
0.20x
Spot volume $34M
OI / float
+7.18%
Float $216.4M
Spot performance
1D-9.97%
5D-3.25%
1M-1.65%
6M+206.17%
YTD+156.90%
1Y+611.22%

Venue matrix

17 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
OKXTradeCYPH/USDTTrading$2.37+92.3% APR
+0.084% every 8h		+41.1 bps$3.2K$493.1K$160.4KUSDT20x
XT.comTradeCYPH/USDTTrading$2.36+94.7% APR
+0.086% every 8h		+16.8 bps$15.3K$456.6K$13.3MUSDT20x
BybitTradeCYPH/USDTTrading$2.37+138.4% APR
+0.126% every 8h		+46.2 bps$1.7K$237.6K$116.6KUSDT25x
PhemexTradeCYPH / USDTTrading$2.370.0% APR
0.000% every 8h		+33.6 bps$65K$175.2K$1MUSDT10x
MEXCTradeCYPH/USDTTrading$2.36+94.3% APR
+0.086% every 8h		+8.4 bps$49.9K$139.7K$47.6KUSDT20x
HTXTradeCYPH/USDTTrading$2.370.0% APR
0.000% every 8h		+83.8 bps$260.1$134.3K$2.8KUSDT-
BitunixTradeCYPH/USDTTrading$2.37+94.6% APR
+0.086% every 8h		+4.2 bps$69.2K$123K$13.5KUSDT20x
Gate.ioTradeCYPH/USDTTrading$2.370.0% APR
0.000% every 8h		+113.7 bps$723.4$25.5K$65.7KUSDT20x
BloFinTradeCYPH/USDTTrading$2.37+95.0% APR
+0.087% every 8h		+29.5 bps$13.6K$19.8K$47.9KUSDT20x
Crypto.com ExchangeTradeCYPH/USDTrading$2.38+894.1% APR
+0.102% every 1h		+84.4 bps$410.8$5.9K$2.1KUSD50x
DeepcoinTradeCYPH/USDTTrading$2.36-11.0% APR
-0.010% every 8h		+21.0 bps$1.2M$4.2M-USDT25x
BingXTradeCYPH-USDTTrading$2.37+135.1% APR
+0.123% every 8h		+21.0 bps$68.8K$683.6K-USDT-
BinanceTradeCYPH/USDTTrading$2.36+93.9% APR
+0.086% every 8h		+21.0 bps$65.3K$2.4M⚠$344.7KUSDT-
OurbitTradeCYPH/USDTTrading$2.36+94.3% APR
+0.086% every 8h		+16.8 bps$52.3K$1.1M⚠$112.5KUSDT20x
KuCoinTradeCYPH/USDTTrading$2.37+210.8% APR
+0.193% every 8h		+33.6 bps$17.5K$979.7K⚠$31.7KUSDT20x
BitgetTradeCYPH/USDTTrading$2.36+108.4% APR
+0.099% every 8h		+27.7 bps$146.4K$769.8K⚠$210.2KUSDT20x
LBankTradeCYPH/USDTTrading$2.36+94.8% APR
+0.087% every 8h		+58.9 bps$249.1K$690.9K⚠$2.8KUSDT50x

Unverified volume: implausibly high against open interest, a typical sign of wash trading. These venues are listed last.

Tradability

Execution quality

Entry cost and depth per venue at $1k–$100k

Broad liquidity · 11 of 17 venues absorb $10k · Typical cost: +45.3 bps – +77.1 bps

Cheapest execution: Deepcoin · +21.3 bps

Too thin: KuCoin, OKX, Bybit, Crypto.com Exchange, HTX

No fresh book data: Gate.io

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

Best venues for this underlying

Best liquidity

CYPH
Deepcoin · CYPH/USDT$1.2M

Tightest spread

CYPH
Bitunix · CYPH/USDT+4.2 bps

Highest volume

CYPH
Deepcoin · CYPH/USDT$4.2M

Funding history

Stored venue snapshots by market

Company financials

Financials at a glance

Last report Q2 '26 · filed 2026-08-12 · next report 2026-11-11 · Updated 1h ago
All financials →

Valuation & key figures

Market cap
$261.3M
Updated 1h ago
Revenue
$0
Trailing 12 months
Revenue growth
-
Next fiscal year
Profit margin
0.0%
P/E
4.1
Peer P/E -1.0
P/S
-
Peer P/E
-1.0
Similar listed perps
Free cash flow
-$27M
Trailing 12 months
Net income
-$877K
Trailing 12 months
Revenue estimate
$33.8M
Next fiscal year
Earnings
2026-11-11
Revenue est. $13.2M · Updated 1h ago
Dividend
-
Revenue (TTM)$0-100.0% vs a year agoLast 4 quarters; bars = each quarter
Operating margin (TTM)–– vs a year agoOperating income -$17.8M
Net income (TTM)-$877K+99.0% vs a year agoAfter tax, incl. non-operating gains
Free cash flow (TTM)-$27M+55.0% vs a year agoCapex -$2.01M
Diluted EPS (TTM)$0.63+139.9% vs a year agoSum of the last 4 quarters
Net cash$7.59M-58.1% vs a year agoCash + short-term investments - debt
  • Last report (2026-08-12): revenue n/a, EPS beat by 700.0%Revenue – vs – expected (–); EPS $0.18 vs -$0.03 (+700.0%).
  • 1,541.6% of pre-tax profit is non-operatingPre-tax income $1.23M vs operating income -$17.8M (TTM). Gains on equity stakes and other one-off items lift net income and EPS - operating income is the cleaner measure of the business.
  • Diluted share count up 325.3% in a year176M diluted shares in Q2 '26, 41.4M a year earlier.
  • Net cash $7.59MCash + short-term investments $7.62M, debt incl. leases $38K; a year ago net cash $18.1M.

Revenue, operating income and growth

quarterly

Revenue by business line

latest quarter
LineRevenuey/yShare
License$375K0.0%100.0%
Royalty–––
In the full financialsIncome statement, balance sheet and cash flow (12 quarters / 10 years) · margins and cost structure · capital allocation and buybacks · valuation against the 5-year range · analyst estimates · all 156 lines Cypherpunk Technologies Inc. reported to the SEC

Next catalyst

Catalysts

Earnings
2026-11-11
Revenue est. $13.2M · Updated 1h ago

No unusual perp activity right now.

Research data

Analysts, filings and peer context

Estimates

6
DateEPS estimateRevenue estimateGrowthAnalysts
FY 2026-0.02$33.8M-1
FY 20270.42$144.8M-1
FY 20280.89$256.4M-1
FY 2029-0.23$39.4M-1
Q1 20270.07$24.8M-1
Q2 20270.12$39.8M-1

Company events

6
2026-11-11EarningsActual - / Estimate 0.03-
2026-08-12EarningsActual 0.18 / Estimate -0.03Beat
2026-05-14EarningsActual -0.46 / Estimate -0.04Miss
2026-03-16EarningsActual -0.23 / Estimate -0.07Miss
2025-11-12EarningsActual -0.08 / Estimate -0.24Beat
2025-08-14EarningsActual -0.4 / Estimate -0.29Miss

Peer comparison

Similar listed perps
NameMarket capP/SP/EProfit marginVenues
ARQQ$293.1M269.8-5.3-4,715.4%2BNC$212.3M1.30.9+178.4%12USDE$202.6M--0.0%5SPCE$329.7M213.5-0.8-23,867.4%1SPIR$338.3M5.4-3.2-145.2%1CCXI$341.5M--3.40.0%1GPRO$175.9M0.3-0.9-28.5%17XNDU$169.2M30.5-1.0-1,577.3%2

Analyst track record

How the analysts covering CYPH have done: ratings, price-target accuracy and the measured reaction after their calls.

12 months3 years
Ratings534
Analysts27
Buy / hold / sell4 / 1 / 027 / 7 / 0
Upgrades / downgrades / initiations0 / 0 / 10 / 3 / 2
Price targets hit / missed3 / 1 (75%)5 / 23 (18%)
Avg. return after a rating (TipRanks)+112.3%-27.6%
Best / worst call+267.8% / -32.5%+267.8% / -84.2%

After buy calls on this stock: median 21-day move +10.2% vs S&P 500 +7.0% (n = 27)

Latest ratings

DateAnalystCallTarget
Sep 10, 2026Nathan FrankovitzCantor FitzgeraldBuyMaintained$4.90article ↗
Aug 24, 2026Nathan FrankovitzCantor FitzgeraldBuyReiterated$1.60article ↗
Aug 18, 2026Nathan FrankovitzCantor FitzgeraldBuyReiterated$1.60
Jun 30, 2026Nathan FrankovitzCantor FitzgeraldBuyInitiated$0.90article ↗
Nov 18, 2025Swayampakula RamakanthH.C. WainwrightHoldReiterated–article ↗
Consensus over the last 12 months buy hold sell avg. target month-end close
Monthly buy, hold and sell shares of analyst ratings with the average price target and the month-end close$1.00$2.00$3.00$4.00$5.00Dec 25 · Buy 0 · Hold 1 · Sell 0Dec 25Jan 26 · Buy 0 · Hold 1 · Sell 0Feb 26 · Buy 0 · Hold 1 · Sell 0Feb 26Mar 26 · Buy 0 · Hold 1 · Sell 0Apr 26 · Buy 0 · Hold 1 · Sell 0Apr 26May 26 · Buy 0 · Hold 0 · Sell 0Jun 26 · Buy 1 · Hold 0 · Sell 0Jun 26Jul 26 · Buy 1 · Hold 0 · Sell 0Aug 26 · Buy 1 · Hold 0 · Sell 0Aug 26Sep 26 · Buy 1 · Hold 0 · Sell 0Oct 26 · Buy 1 · Hold 0 · Sell 0Oct 26Nov 26 · Buy 1 · Hold 0 · Sell 0Jun 26 · avg. target $0.90Jul 26 · avg. target $0.90Aug 26 · avg. target $1.60Sep 26 · avg. target $4.90Oct 26 · avg. target $4.90Nov 26 · avg. target $4.90Dec 25 · month-end close $1.16Jan 26 · month-end close $0.75Feb 26 · month-end close $0.62Mar 26 · month-end close $0.79Apr 26 · month-end close $0.89May 26 · month-end close $1.13Jun 26 · month-end close $0.61Jul 26 · month-end close $0.59Aug 26 · month-end close $1.83Sep 26 · month-end close $3.33Oct 26 · month-end close $2.98Nov 26 · month-end close $2.98

Share of analysts per call each month (latest call per analyst within 180 days). Targets and closes in USD.

TipRanks data · computed Oct 30, 2026 · 5 ratings

Frequently asked questions

Where can I trade CYPH perpetual futures?

Cypherpunk Technologies Inc. (CYPH) perpetual futures trade on 17 crypto venues, including Deepcoin, Binance, Ourbit. PerpEquities compares them by live price, funding rate, open interest and liquidity.

Can I trade CYPH around the clock?

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

What is the funding rate on CYPH perpetuals?

Right now the CYPH perp funding rate is +94.5% annualized (venue median), ranging from -11.0% to +210.8% across 17 venues. A positive rate means longs pay shorts. PerpEquities shows the live rate and its history for every venue.

How does the CYPH perp price compare to the Cypherpunk Technologies Inc. stock?

The venue-median CYPH perp mark is $2.37 versus a reference stock price of $2.36, 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 CYPH perpetual future?

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

What is CYPHUSDT perpetual?

CYPHUSDT is the symbol most crypto exchanges use for the Cypherpunk Technologies Inc. perpetual settled in USDT (Tether). It tracks the CYPH share price through an index, trades 24/7 with leverage and never expires.

Also listed on Deepcoin

Also listed on Binance

Also listed on Ourbit

Embed this asset

CYPH perpetuals · perpequities.comCYPH perpetuals · perpequities.com
<a href="https://perpequities.com/stocks/cyph-perp"><img src="https://perpequities.com/badge/cyph-perp.svg" width="240" height="64" alt="CYPH perpetuals · perpequities.com" loading="lazy"></a>

Raw data: JSON · CSV · API

Next step

Stay on top of CYPH perps

Signals with a track record

Analysts who hit 70%+ of their targets on the perps we track, congress buys over $500k, 13F positions over $5M, funding spreads that have paid for days. Every post shows the evidence. Free, no sign-up.

Join on Telegram

Weekly digest by email

The listings, funding and moves that matter for CYPH — one email every Sunday.

Watchlist and alerts

Price and funding alerts for CYPH, via push or Telegram.

Set an alert

Follow the live feed

Daily movers, new listings and funding extremes as they happen.

Follow on X