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Kuaishou Technology (KUAISHOU) perpetual futures
KUAISHOU perpetual futures on 13 crypto exchanges – live perp price vs the stock, funding rate, open interest and where to trade KUAISHOUUSDT.
Kuaishou Technology, a Chinese holding company, provides live streaming, online marketing, short-video and social platforms, plus mobile games and e-commerce services.
$3.66-1.2%
Price chart
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venue perp mark · LBank (KUAISHOU/USDT)
Auto: highest-volume live perp venueOpen in TradingView
Trading data
Perpetual market activity
13/13 live markets
Trading data
Perpetual market activity
Venues
13
Live markets
13/13
24h volume
$2.2MCoverage: 12/13 marketsExchange-reported volume: $4.5M
Open interest
$11.5MCoverage: 12/13 markets
Best liquidity
$974.4K
LBank
Tightest spread
+2.7 bps
Bitget
Highest volume
$1.1M
Deepcoin
Settlement mix
USDT · 13/13
Perp/spot vol.
0.03x
Spot volume $73.4M
OI / float
+0.10%
Float $11.1B
Spot performance
1D+0.56%
5D+1.68%
1M-3.72%
6M-45.27%
YTD-54.68%
1Y-58.48%
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 | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
 KuCoin | Trade | KUAISHOU/USDT | Trading | $3.66 | 0.0% APR 0.000% every 4h | +76.6 bps | $5.4K | $478.1K | $22K | USDT | 20x | |
 Binance | Trade | KUAISHOU/USDT | Trading | $3.66 | 0.0% APR 0.000% every 4h | +5.5 bps | $47K | $211.4K | $1.6M | USDT | - | |
 Ourbit | Trade | KUAISHOU/USDT | Trading | $3.66 | 0.0% APR 0.000% every 4h | +109.2 bps | $28.3K | $123.8K | $108.1K | USDT | 20x | |
 Bitget | Trade | KUAISHOU/USDT | Trading | $3.66 | 0.0% APR 0.000% every 8h | +2.7 bps | $184.8K | $109.6K | $256.8K | USDT | 5x | |
 MEXC | Trade | KUAISHOU/USDT | Trading | $3.66 | 0.0% APR 0.000% every 4h | +5.5 bps | $70.3K | $101.4K | $150.1K | USDT | 20x | |
 Bitunix | Trade | KUAISHOU/USDT | Trading | $3.66 | +6.4% APR +0.00292% every 4h | +2.7 bps | $64.1K | $68.5K | $56.6K | USDT | 20x | |
 XT.com | Trade | KUAISHOU/USDT | Trading | $3.66 | +11.0% APR +0.010% every 8h | +27.3 bps | $25.4K | $58.3K | $8.9M | USDT | 20x | |
 Gate.io | Trade | KUAISHOU/USDT | Trading | $3.66 | 0.0% APR 0.000% every 8h | +68.1 bps | $10.1K | $5.8K | $306K | USDT | 25x | |
 Bybit | Trade | KUAISHOU/USDT | Trading | $3.66 | 0.0% APR 0.000% every 8h | +54.6 bps | $10.5K | $1.5K | $98.9K | USDT | 25x | |
 HTX | Trade | KUAISHOU/USDT | Trading | $3.66 | 0.0% APR 0.000% every 4h | +109.0 bps | $605.5 | $665.4 | $6.4K | USDT | - | |
 Aster | Trade | KUAISHOUUSDT | Trading | $3.66 | 0.0% APR 0.000% every 8h | +101.1 bps | $13.2K | $59 | $41.2K | USDT | - | |
 Deepcoin | Trade | KUAISHOU/USDT | Trading | $3.66 | - | +5.5 bps | $162.1K | $1.1M | - | USDT | 25x | |
 LBank | Trade | KUAISHOU/USDT | Trading | $3.66 | 0.0% APR 0.000% every 4h | +5.5 bps | $974.4K | $2.3M⚠ | $620.9 | USDT | 50x |
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
Tradability
Execution quality
Entry cost and depth per venue at $1k–$100kBroad liquidity · 8 of 13 venues absorb $10k · Typical cost: +19.8 bps – +37.1 bps
Cheapest execution: LBank · +11.8 bps
Too thin: Gate.io, KuCoin
No fresh book data: Ourbit, Aster, HTX
Taker execution estimate incl. approx. fees - maker fills are not guaranteed.
Best venues for this underlying
Best liquidity
KUAISHOUTightest spread
KUAISHOUHighest volume
KUAISHOUFunding history
Stored venue snapshots by market
Funding history
Stored venue snapshots by marketNext catalyst
Catalysts
Next catalyst
Catalysts
Earnings
2026-11-19
Revenue est. $5B · Updated 2h ago
Dividend
$0.69
2026-06-29
No unusual perp activity right now.
Reference data
Market context
Reference data
Market context
Hong Kong Stock Exchange
Research data
Analysts, filings and peer context
Research data
Analysts, filings and peer context
Estimates
6DateEPS estimateRevenue estimateGrowthAnalysts
FY 20260.25$20.7B-3%20
FY 20270.28$21.5B+1%21
FY 20280.34$22.6B+6%14
FY 20290.33$26.3B+23%7
Q3 20260.02$5B-7%8
Q4 20260.03$5.4B-9%6
Company events
62026-11-19EarningsActual - / Estimate 0.15-
2026-08-19EarningsActual 0.83 / Estimate 0.98Miss
2026-06-29Dividend$0.69-
2026-05-27EarningsActual 0.75 / Estimate 0.74Beat
2026-03-25EarningsActual 1.37 / Estimate 1.35Beat
2025-11-19EarningsActual 1.11 / Estimate 1.2Miss
Peer comparison
Similar listed perpsRevenue mix
Latest annualOnline marketing servicesProduct¥81.5B
Live streamingProduct¥39.1B
Other servicesProduct¥22.2B
DomesticGeographic¥137.7B
OverseasGeographic¥5.1B
Analysts
Price targetsConsensusBuyHKD 44.5
RangeHKD 29HKD 63.8
TipRanks · 21 analysts · newest rating 2026-11-09
Ratings31Rating mix of 2026-11-01
Analyst rating history
RatingsDateStrong buyBuyHoldSellStrong sell
2026-11-014131220
2026-10-014141220
2026-09-014161220
2026-08-015271120
2026-07-01627200
2026-06-01626300
2026-05-01527400
2026-04-01427400
2026-03-01730400
2026-02-01730100
2026-01-01731100
2025-12-01630100
Ownership
Institutional · 2026-Q3Free float70.4%3B shares
Shares outstanding4.3B shares
Reference market activity
KUAISHOU-PERPDay range$28.62$29.36
52 week$25.88$85.2
Spot volume20M
Average volume-
Price performance
111D+0.6%
5D+1.7%
1M-3.7%
3M-34.6%
6M-45.3%
YTD-54.7%
1Y-58.5%
3Y-46.9%
5Y-68.9%
10Y-90.3%
MAX-90.3%
Insider activity
No insider data available.No insider data available.
Transcripts
Earnings callsFY2026 Q22026-08-19
Earnings calls
AI summary
mixedKuaishou reported Q2 2026 total revenue of RMB 35.5 billion, up 1.4% year-over-year, with adjusted net profit of RMB 3.9 billion and an 11% adjusted net margin. Online marketing services revenue rose 4.4% to RMB 20.6 billion, other services including e-commerce and Kling AI rose 18.5% to RMB 6.2 billion, and live streaming revenue was RMB 8.7 billion. Kling AI generated over RMB 850 million in revenue, up over 200% year-over-year. Average DAUs on the Kuaishou App reached 412.5 million and MAUs 797.3 million. Management said Kling AI closed an independent financing round and that the company expects near-term revenue pressure and continued AI investment to weigh on profitability in the second half, while targeting positive group-level free cash flow for the period.
Key takeaways
- Kling AI revenue exceeded RMB 850 million in Q2, up over 200% year-over-year; management highlighted native 4K output in the Kling AI 3.0 series and the 3.0 Turbo model.
- Management cited a global video content generation market opportunity of USD 150 billion and said video generation has a more concentrated market structure than large language models.
- AI applications drove growth in non-e-commerce marketing: short-play-driven marketing spend grew over 100% year-over-year and AIGC short video marketing spend grew over 70% year-over-year.
- Active paying e-commerce users were largely stable quarter-over-quarter; newly onboarded merchants grew year-over-year and nearly 10% quarter-over-quarter.
- Kling AI completed an independent financing round, which management said will enhance its competitiveness and provide flexibility in managing cash flow, including leasing computing power.
Financial highlights
- Total revenue RMB 35.5 billion, up 1.4% year-over-year.
- Online marketing services revenue RMB 20.6 billion, up 4.4% from RMB 19.8 billion.
- Other services revenue (e-commerce and Kling AI) RMB 6.2 billion, up 18.5% from RMB 5.2 billion.
- Live streaming revenue RMB 8.7 billion; gross margin 51.6% versus 55.7% a year earlier; R&D expenses up 34.7% to RMB 4.6 billion; Q2 net cash from operating activities RMB 5.9 billion.
Guidance
- Second half expected to face pressure on revenue, with continued AI investment weighing on profitability.
- E-commerce marketing service revenue and commission income expected to face pressure in the second half.
- Objective is to maintain positive group-level free cash flow in the second half of 2026, with the majority of CapEx front-loaded in the first half.
- Total shareholder returns for full-year 2026 expected to exceed last year's level; year-to-date repurchases of about HKD 2 billion and HKD 3 billion in cash dividends paid.
Q&A themes
- Kling AI competitive landscape, iteration direction and independent financing.
- AI applications beyond Kling, including AgentX recommendation iteration, marketing AI and internal productivity tools.
- Merchant support strategy and the second-half outlook for e-commerce and online shopping.
- Non-e-commerce advertising trends, short plays, lifestyle services and gaming, plus AI's impact on marketing efficiency.
Risks
- Management flagged a complex macroeconomic environment, soft consumer demand and intense industry competition.
- Second-half revenue pressure expected, including in e-commerce marketing services and commissions, alongside AI investment weighing on profitability.
- High base effect in the second half from AI applications and instant retail, which grew rapidly in the prior-year period; external visibility remains limited.
Company news
Reuters, WSJ, Bloomberg and FT first, as far as our news provider delivers them; other publishers behind the second filter. Headlines link to the publisher.Company data
Company intelligence
Updated: Sep 22, 2026, 03:35 PM UTC
Company data
Company intelligence
Company profile
- Sector
- Communication Services
- Industry
- Internet Content & Information
- Chief executive
- Yi Xiao Cheng
- Employees
- 24,202
- IPO date
- Feb 5, 2021
- Country
- CN
- Exchange
- Hong Kong Stock Exchange
Altman Z-scorei0.02
Piotroski scorei4/9
Overall ratingiA-
Owner earningsiCN¥920.62MCN¥0.21 per share
Rating factors
- Return on equityi
- 4
- Return on assetsi
- 5
- Debt to equityi
- 3
- Price to earningsi
- 3
- Price to booki
- 2
Market cap history
HK$134.65B-31.3%Jun 26 – Sep 26
Latest: HK$134.65B · 2026-09-22High: HK$197.94B · 2026-07-06Low: HK$131.89B · 2026-09-14
Largest fund holders
| Fund | Weight | Shares held |
|---|---|---|
| 3033.HK | 2.78% | 56M |
| VXUS | 0.03% | 45.8M |
| VWO | 0.11% | 43.9M |
| KWEB | 2.99% | 36.2M |
| IEMG | 0.08% | 32.6M |
| 2800.HK | 0.55% | 24M |
| JYV | 1.43% | 13.5M |
| AVEM | 0.16% | 12M |
| 3067.HK | 2.77% | 11.9M |
| EIMI.L | 0.08% | 9.5M |
| CTCE.L | 1.92% | 8.6M |
| HSTC.L | 2.74% | 8.1M |
Analyst track record
How the analysts covering KUAISHOU have done: ratings, price-target accuracy and the measured reaction after their calls.
| 12 months | 3 years | |
|---|---|---|
| Ratings | 0 | 0 |
| Analysts | 0 | 0 |
| Buy / hold / sell | – | – |
| Upgrades / downgrades / initiations | 0 / 0 / 0 | 0 / 0 / 0 |
| Price targets hit / missed | – | – |
| Avg. return after a rating (TipRanks) | – | – |
| Best / worst call | – / – | – / – |
After buy calls on this stock: not enough measured cases yet
TipRanks data · computed Nov 6, 2026 · 0 ratings
Frequently asked questions
Where can I trade KUAISHOU perpetual futures?
Kuaishou Technology (KUAISHOU) perpetual futures trade on 13 crypto venues, including LBank, Deepcoin, KuCoin. PerpEquities compares them by live price, funding rate, open interest and liquidity.
Can I trade KUAISHOU around the clock?
Yes. Unlike the underlying stock, KUAISHOU perpetuals trade 24/7 — including weekends and outside regular market hours.
What is the funding rate on KUAISHOU perpetuals?
Right now the KUAISHOU perp funding rate is 0.0% annualized (venue median), ranging from 0.0% to +11.0% across 13 venues. A positive rate means longs pay shorts. PerpEquities shows the live rate and its history for every venue.
How does the KUAISHOU perp price compare to the Kuaishou Technology stock?
The venue-median KUAISHOU perp mark is $3.66 versus a reference stock price of $3.66, 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 KUAISHOU perpetual future?
A KUAISHOU perpetual is a derivative that tracks the price of Kuaishou Technology with no expiry date. It lets you take long or short exposure to Kuaishou Technology on crypto venues, around the clock.
What is KUAISHOUUSDT perpetual?
KUAISHOUUSDT is the symbol most crypto exchanges use for the Kuaishou Technology perpetual settled in USDT (Tether). It tracks the KUAISHOU share price through an index, trades 24/7 with leverage and never expires.
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