PerpEquities

Equity

Kodiak Sciences Inc. (KOD) perpetual futures

KOD perpetual futures on 1 crypto exchanges – live perp price vs the stock, funding rate, open interest and where to trade KODUSDT.

Kodiak Sciences Inc. is a clinical-stage biopharmaceutical company developing treatments for retinal diseases, led by its anti-VEGF antibody biopolymer candidate KSI-301.

$90.62+147.8%NASDAQ open
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TradingView symbol NASDAQ:KOD

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Trading data

Perpetual market activity

1/1 live markets
Venues
1
Live markets
1/1
24h volume
$172.4K
Open interest
$568.1K
Best liquidity
$59.7K
MEXC
Tightest spread
+43.3 bps
MEXC
Highest volume
$172.4K
MEXC
Settlement mix
USDT · 1/1
Perp/spot vol.
0.00x
Spot volume $1.9B
OI / float
+0.01%
Float $5.2B
Spot performance
1D+144.34%
5D+131.80%
1M+109.56%
6M+113.64%
YTD+182.71%
1Y+399.97%

Venue matrix

1 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
MEXCTradeKOD/USDTTrading$90.62-21.9% APR
-0.020% every 8h
+43.3 bps$59.7K$172.4K$568.1KUSDT20x

Tradability

Execution quality

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

Thin liquidity · 1 of 1 venues absorb $10k · Typical cost: +50.6 bps

Cheapest execution: MEXC · +50.6 bps

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

Best venues for this underlying

Best liquidity

KOD

Tightest spread

KOD

Highest volume

KOD

Funding history

Stored venue snapshots by market

Company data

Company fundamentals

Updated 2h ago
Market cap
$5.1B
Updated 2h ago
Revenue
$0
Trailing 12 months
Revenue growth
-
Next fiscal year
Profit margin
0.0%
P/E
-19.4
Peer P/E 13.2
Free cash flow
-$159.9M
Trailing 12 months
More metrics
Net income
-$242M
Trailing 12 months
P/S
-
Peer P/E
13.2
Similar listed perps
Revenue estimate
$11.3M
Next fiscal year
Earnings
2026-11-12
Revenue est. - · Updated 2h ago
Dividend
-

Fundamental detail

Annual + quarterly
Latest revenue$0
Net margin0.0%
Free cash flow-$136.5M
Net debt-$50.7M
2020$0
2021$0
2022$0
2023$0
2024$0
2025$0
PeriodRevenueGrowthNet incomeFCF
2020$0--$133.1M-$90.4M
2021$0--$267M-$245.6M
2022$0--$333.8M-$253.8M
2023$0--$260.5M-$195.6M
2024$0--$176.2M-$117.7M
2025$0--$230M-$136.5M
PeriodGross marginOperating marginNet marginROEROA
20200.0%0.0%0.0%-15.5%-12.5%
20210.0%0.0%0.0%-40.3%-29.5%
20220.0%0.0%0.0%-76.5%-50.1%
20230.0%0.0%0.0%-98.0%-54.3%
20240.0%0.0%0.0%-117.2%-52.5%
20250.0%0.0%0.0%-146.1%-65.4%
PeriodCashDebtNet debtCurrent ratio
2020$944.4M$77.4M-$867M30.93
2021$731.5M$179.9M-$551.6M11.36
2022$190.4M$187.7M-$2.7M9.26
2023$285.5M$181.6M-$103.9M6.93
2024$168.1M$70.3M-$97.7M6.72
2025$209.9M$159.2M-$50.7M4.72
PeriodMarket capEnterprise valueP/SP/E
2020$1.3B$476.9M0.0-10.1
2021$878.3M$326.8M0.0-3.3
2022$374.1M$371.4M0.0-1.1
2023$159.3M$55.5M0.0-0.6
2024$523.2M$425.5M0.0-3.0
2025$1.5B$1.4B0.0-6.5
Q3 2024$0
Q4 2024$0
Q1 2025$0
Q2 2025$0
Q3 2025$0
Q4 2025$0
Q1 2026$0
Q2 2026$0
PeriodRevenueGrowthNet incomeFCF
Q3 2024$0--$43.9M-$21.4M
Q4 2024$0--$44.1M-$30.2M
Q1 2025$0--$57.5M-$29.3M
Q2 2025$0--$54.3M-$34.8M
Q3 2025$0--$61.5M-$32.9M
Q4 2025$0--$56.7M-$39.4M
Q1 2026$0--$58.2M-$41M
Q2 2026$0--$65.6M-$46.6M
PeriodGross marginOperating marginNet marginROEROA
Q3 20240.0%0.0%0.0%-23.7%-11.8%
Q4 20240.0%0.0%0.0%-29.3%-13.1%
Q1 20250.0%0.0%0.0%-52.8%-19.3%
Q2 20250.0%0.0%0.0%-77.3%-21.2%
Q3 20250.0%0.0%0.0%-259.4%-28.2%
Q4 20250.0%0.0%0.0%-36.0%-16.1%
Q1 20260.0%0.0%0.0%-51.9%-19.0%
Q2 20260.0%0.0%0.0%-107.4%-25.6%
PeriodCashDebtNet debtCurrent ratio
Q3 2024$197.9M$73.4M-$124.4M8.42
Q4 2024$168.1M$70.3M-$97.7M6.72
Q1 2025$138.9M$67.6M-$71.2M4.62
Q2 2025$104.2M$65.2M-$39M3.48
Q3 2025$72M$62.2M-$9.8M1.78
Q4 2025$209.9M$159.2M-$50.7M4.72
Q1 2026$169.5M$156M-$13.5M3.54
Q2 2026$125.9M$95.7M-$30.2M2.49
PeriodMarket capEnterprise valueP/SP/E
Q3 2024$137.3M$12.9M0.0-0.8
Q4 2024$523.9M$426.1M0.0-3.0
Q1 2025$148.2M$77M0.0-0.6
Q2 2025$196.9M$157.9M0.0-0.9
Q3 2025$865.3M$855.5M0.0-3.5
Q4 2025$1.5B$1.4B0.0-6.7
Q1 2026$2.4B$2.3B0.0-10.1
Q2 2026$2.4B$2.4B0.0-9.3

Refreshed 2h ago

Charts: revenue, profit, cash flow & valuation
Revenue$0Q2 2026
Q3 2023: $0Q4 2023: $0Q1 2024: $0Q2 2024: $0Q3 2024: $0Q4 2024: $0Q1 2025: $0Q2 2025: $0Q3 2025: $0Q4 2025: $0Q1 2026: $0Q2 2026: $0Q3 2023Q2 2026
Net income-$65.6MQ2 2026
-$49.2M-$32.8M-$16.4MQ3 2023: -$50MQ4 2023: -$59.5MQ1 2024: -$43MQ2 2024: -$45.1MQ3 2024: -$43.9MQ4 2024: -$44.1MQ1 2025: -$57.5MQ2 2025: -$54.3MQ3 2025: -$61.5MQ4 2025: -$56.7MQ1 2026: -$58.2MQ2 2026: -$65.6MQ3 2023Q2 2026
EBITDA-$66.8MQ2 2026
-$50.1M-$33.4M-$16.7MQ3 2023: -$43MQ4 2023: -$52.9MQ1 2024: -$36.4MQ2 2024: -$38.4MQ3 2024: -$37.2MQ4 2024: -$37.4MQ1 2025: -$50.7MQ2 2025: -$47.8MQ3 2025: -$54.9MQ4 2025: -$46.5MQ1 2026: -$51.8MQ2 2026: -$66.8MQ3 2023Q2 2026
Free cash flow-$46.6MQ2 2026
-$44.8M-$29.9M-$14.9MQ3 2023: -$33MQ4 2023: -$59.7MQ1 2024: -$39.6MQ2 2024: -$26.5MQ3 2024: -$21.4MQ4 2024: -$30.2MQ1 2025: -$29.3MQ2 2025: -$34.8MQ3 2025: -$32.9MQ4 2025: -$39.4MQ1 2026: -$41MQ2 2026: -$46.6MQ3 2023Q2 2026
EPS-$1.05Q2 2026
-$0.87-$0.58-$0.29Q3 2023: -$0.95Q4 2023: -$1.13Q1 2024: -$0.82Q2 2024: -$0.86Q3 2024: -$0.84Q4 2024: -$0.84Q1 2025: -$1.09Q2 2025: -$1.03Q3 2025: -$1.16Q4 2025: -$1.04Q1 2026: -$0.94Q2 2026: -$1.05Q3 2023Q2 2026
Cash / Debt$125.9MQ2 2026
$86.4M$172.8M$259.3M$345.7MQ3 2023 · Cash: $345.7MQ3 2023 · Debt: $183.5MQ4 2023 · Cash: $285.5MQ4 2023 · Debt: $181.6MQ1 2024 · Cash: $245.9MQ1 2024 · Debt: $178.3MQ2 2024 · Cash: $219.2MQ2 2024 · Debt: $75.8MQ3 2024 · Cash: $197.9MQ3 2024 · Debt: $73.4MQ4 2024 · Cash: $168.1MQ4 2024 · Debt: $70.3MQ1 2025 · Cash: $138.9MQ1 2025 · Debt: $67.6MQ2 2025 · Cash: $104.2MQ2 2025 · Debt: $65.2MQ3 2025 · Cash: $72MQ3 2025 · Debt: $62.2MQ4 2025 · Cash: $209.9MQ4 2025 · Debt: $159.2MQ1 2026 · Cash: $169.5MQ1 2026 · Debt: $156MQ2 2026 · Cash: $125.9MQ2 2026 · Debt: $95.7MQ3 2023Q2 2026
CashDebt
Profitability0.0%Q2 2026
Q3 2023 · Gross margin: 0.0%Q4 2023 · Gross margin: 0.0%Q1 2024 · Gross margin: 0.0%Q2 2024 · Gross margin: 0.0%Q3 2024 · Gross margin: 0.0%Q4 2024 · Gross margin: 0.0%Q1 2025 · Gross margin: 0.0%Q2 2025 · Gross margin: 0.0%Q3 2025 · Gross margin: 0.0%Q4 2025 · Gross margin: 0.0%Q1 2026 · Gross margin: 0.0%Q2 2026 · Gross margin: 0.0%Q3 2023 · Operating margin: 0.0%Q4 2023 · Operating margin: 0.0%Q1 2024 · Operating margin: 0.0%Q2 2024 · Operating margin: 0.0%Q3 2024 · Operating margin: 0.0%Q4 2024 · Operating margin: 0.0%Q1 2025 · Operating margin: 0.0%Q2 2025 · Operating margin: 0.0%Q3 2025 · Operating margin: 0.0%Q4 2025 · Operating margin: 0.0%Q1 2026 · Operating margin: 0.0%Q2 2026 · Operating margin: 0.0%Q3 2023 · Net margin: 0.0%Q4 2023 · Net margin: 0.0%Q1 2024 · Net margin: 0.0%Q2 2024 · Net margin: 0.0%Q3 2024 · Net margin: 0.0%Q4 2024 · Net margin: 0.0%Q1 2025 · Net margin: 0.0%Q2 2025 · Net margin: 0.0%Q3 2025 · Net margin: 0.0%Q4 2025 · Net margin: 0.0%Q1 2026 · Net margin: 0.0%Q2 2026 · Net margin: 0.0%Q3 2023Q2 2026
Gross marginOperating marginNet margin
Shares outstanding62.6MQ2 2026
15.7M31.3M47M62.6MQ3 2023: 52.5MQ4 2023: 52.5MQ1 2024: 52.5MQ2 2024: 52.6MQ3 2024: 52.6MQ4 2024: 52.7MQ1 2025: 52.7MQ2 2025: 52.8MQ3 2025: 52.9MQ4 2025: 53.2MQ1 2026: 61.9MQ2 2026: 62.6MQ3 2023Q2 2026
Valuation-9.3Q2 2026
-7.6-5.1-2.5Q3 2023 · P/E: -0.5Q4 2023 · P/E: -0.7Q1 2024 · P/E: -1.4Q2 2024 · P/E: -0.7Q3 2024 · P/E: -0.8Q4 2024 · P/E: -3.0Q1 2025 · P/E: -0.6Q2 2025 · P/E: -0.9Q3 2025 · P/E: -3.5Q4 2025 · P/E: -6.7Q1 2026 · P/E: -10.1Q2 2026 · P/E: -9.3Q3 2023 · P/S: 0.0Q4 2023 · P/S: 0.0Q1 2024 · P/S: 0.0Q2 2024 · P/S: 0.0Q3 2024 · P/S: 0.0Q4 2024 · P/S: 0.0Q1 2025 · P/S: 0.0Q2 2025 · P/S: 0.0Q3 2025 · P/S: 0.0Q4 2025 · P/S: 0.0Q1 2026 · P/S: 0.0Q2 2026 · P/S: 0.0Q3 2023Q2 2026
P/EP/S
Revenue$02025
2018: $02019: $02020: $02021: $02022: $02023: $02024: $02025: $020182025
Net income-$230M2025
-$250.4M-$166.9M-$83.5M2018: -$41.4M2019: -$47.4M2020: -$133.1M2021: -$267M2022: -$333.8M2023: -$260.5M2024: -$176.2M2025: -$230M20182025
EBITDA-$203.6M2025
-$242.1M-$161.4M-$80.7M2018: -$35.4M2019: -$46.4M2020: -$128.9M2021: -$258.3M2022: -$322.8M2023: -$234.5M2024: -$149.5M2025: -$203.6M20182025
Free cash flow-$136.5M2025
-$190.4M-$126.9M-$63.5M2018: -$29.6M2019: -$39.6M2020: -$90.4M2021: -$245.6M2022: -$253.8M2023: -$195.6M2024: -$117.7M2025: -$136.5M20182025
EPS-$4.322025
-$4.79-$3.2-$1.62018: -$1.162019: -$1.232020: -$2.912021: -$5.162022: -$6.392023: -$4.972024: -$3.352025: -$4.3220182025
Cash / Debt$209.9M2025
$236.1M$472.2M$708.3M$944.4M2018 · Cash: $88.3M2018 · Debt: $02019 · Cash: $211.8M2019 · Debt: $1.9M2020 · Cash: $944.4M2020 · Debt: $77.4M2021 · Cash: $731.5M2021 · Debt: $179.9M2022 · Cash: $190.4M2022 · Debt: $187.7M2023 · Cash: $285.5M2023 · Debt: $181.6M2024 · Cash: $168.1M2024 · Debt: $70.3M2025 · Cash: $209.9M2025 · Debt: $159.2M20182025
CashDebt
Profitability0.0%2025
2018 · Gross margin: 0.0%2019 · Gross margin: 0.0%2020 · Gross margin: 0.0%2021 · Gross margin: 0.0%2022 · Gross margin: 0.0%2023 · Gross margin: 0.0%2024 · Gross margin: 0.0%2025 · Gross margin: 0.0%2018 · Operating margin: 0.0%2019 · Operating margin: 0.0%2020 · Operating margin: 0.0%2021 · Operating margin: 0.0%2022 · Operating margin: 0.0%2023 · Operating margin: 0.0%2024 · Operating margin: 0.0%2025 · Operating margin: 0.0%2018 · Net margin: 0.0%2019 · Net margin: 0.0%2020 · Net margin: 0.0%2021 · Net margin: 0.0%2022 · Net margin: 0.0%2023 · Net margin: 0.0%2024 · Net margin: 0.0%2025 · Net margin: 0.0%20182025
Gross marginOperating marginNet margin
Shares outstanding53.2M2025
13.3M26.6M39.9M53.2M2018: 35.9M2019: 37.9M2020: 45.7M2021: 51.8M2022: 52.2M2023: 52.4M2024: 52.6M2025: 53.2M20182025
Valuation-6.52025
-8.8-5.8-2.92018 · P/E: -1.22019 · P/E: -11.72020 · P/E: -10.12021 · P/E: -3.32022 · P/E: -1.12023 · P/E: -0.62024 · P/E: -3.02025 · P/E: -6.52018 · P/S: 0.02019 · P/S: 0.02020 · P/S: 0.02021 · P/S: 0.02022 · P/S: 0.02023 · P/S: 0.02024 · P/S: 0.02025 · P/S: 0.020182025
P/EP/S

Next catalyst

Catalysts

Earnings
2026-11-12
Revenue est. - · Updated 2h ago

No unusual perp activity right now.

Research data

Analysts, filings and peer context

Estimates

6
DateEPS estimateRevenue estimateGrowthAnalysts
FY 2026-4.08$11.3M-4
FY 2027-4.02$29.1M-3
FY 2028-1.98$225.2M-5
FY 20291.03$497.9M-1
FY 20303.84$870.8M-1
Q3 2026-1.06$0-4

Company events

6
2026-11-12EarningsActual - / Estimate -0.99-
2026-08-12EarningsActual -1.05 / Estimate -0.96Miss
2026-05-07EarningsActual -0.94 / Estimate -0.93Miss
2026-03-31EarningsActual -1.04 / Estimate -1.02Miss
2025-11-13EarningsActual -1.16 / Estimate -1.07Miss
2025-08-13EarningsActual -1.03 / Estimate -1.01Miss

Peer comparison

Similar listed perps

Analyst track record

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

12 months3 years
Ratings4172
Analysts1013
Buy / hold / sell36 / 5 / 041 / 18 / 13
Upgrades / downgrades / initiations3 / 0 / 47 / 0 / 7
Price targets hit / missed36 / 1 (97%)65 / 1 (98%)
Avg. return after a rating (TipRanks)+104.1%+903.4%
Best / worst call+472.5% / -5.7%+3,907.5% / -5.7%

After buy calls on this stock: not enough measured cases yet

Latest ratings

DateAnalystCallTarget
Sep 28, 2026Matthew CaufieldH.C. WainwrightBuyReiterated$96.00
Sep 28, 2026Umer RaffatEvercore ISIBuyMaintained–
Sep 28, 2026Patrick DolezalLifeSci CapitalBuyMaintained$145
Sep 24, 2026Unknown AnalystGoldman SachsHoldInitiated–
Sep 24, 2026Andrea NewkirkGoldman SachsHoldInitiated–

TipRanks data via FMP · computed Sep 28, 2026 · 41 ratings

Frequently asked questions

Where can I trade KOD perpetual futures?

Kodiak Sciences Inc. (KOD) perpetual futures trade on 1 crypto venues, including MEXC. PerpEquities compares them by live price, funding rate, open interest and liquidity.

Can I trade KOD around the clock?

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

What is the funding rate on KOD perpetuals?

Right now the KOD perp funding rate is -21.9% annualized (venue median), ranging from -21.9% to -21.9% across 1 venues. A positive rate means longs pay shorts. PerpEquities shows the live rate and its history for every venue.

How does the KOD perp price compare to the Kodiak Sciences Inc. stock?

The venue-median KOD perp mark is $90.6 versus a reference stock price of $90.6, a basis of 0.0%. Perps follow the stock through an index price; the gap widens when funding or liquidity diverge between venues.

What is a KOD perpetual future?

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

What is KODUSDT perpetual?

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

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