PerpEquities

Equity · Energy

Marathon Petroleum (MPC) perpetual futures

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

Marathon Petroleum is an integrated downstream energy company refining and marketing petroleum products and midstream services across the U.S.

$425.19+0.7%NYSE closed
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venue perp mark · BingX (MPC-USDT)
Auto: highest-volume live perp venueOpen in TradingView

Trading data

Perpetual market activity

1/1 live markets
Venues
1
Live markets
1/1
24h volume
-Coverage: 0/1 marketsExchange-reported volume: $1.3M
Open interest
$3.8K
Best liquidity
$28.7K
BingX
Tightest spread
+20.9 bps
BingX
Highest volume
-
Settlement mix
USDT · 1/1
Perp/spot vol.
-
Spot volume $4.2B
OI / float
0.00%
Float $123.7B
Spot performance
1D+0.69%
5D+5.96%
1M+18.61%
6M+82.72%
YTD+161.26%
1Y+126.91%

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
BingXTradeMPC-USDTTrading$425.19-4.7% APR
-0.00430% every 8h
+20.9 bps$28.7K$1.3M$3.8KUSDT-

Tradability

Execution quality

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

Thin liquidity · 1 of 1 venues absorb $10k · Typical cost: +56.7 bps

Cheapest execution: BingX · +56.7 bps

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

Best venues for this underlying

Best liquidity

MPC

Tightest spread

MPC

Highest volume

-
No live data-

Funding history

Stored venue snapshots by market

Company data

Company fundamentals

Updated 2h ago
Market cap
$124B
Updated 2h ago
Revenue
$153.9B
Trailing 12 months
Revenue growth
+33%
Next fiscal year
Profit margin
+5.6%
P/E
14.6
Peer P/E 17.3
Free cash flow
$12.9B
Trailing 12 months
More metrics
Net income
$8.6B
Trailing 12 months
P/S
0.8
Peer P/E
17.3
Similar listed perps
Revenue estimate
$176.5B
Next fiscal year
Earnings
2026-11-03
Revenue est. $45.2B · Updated 2h ago
Dividend
$1
2026-08-19

Fundamental detail

Annual + quarterly
Latest revenue$132.7B
Net margin+3.0%
Free cash flow$4.8B
Net debt$30.7B
2020$69.8B
2021$120B
2022$177.5B
2023$148.4B
2024$138.9B
2025$132.7B
PeriodRevenueGrowthNet incomeFCF
2020$69.8B-37%-$9.8B-$368M
2021$120B+72%$9.7B$2.9B
2022$177.5B+48%$14.5B$13.9B
2023$148.4B-16%$9.7B$12.2B
2024$138.9B-6%$3.4B$6.1B
2025$132.7B-4%$4B$4.8B
PeriodGross marginOperating marginNet marginROEROA
2020+1.0%-17.6%-14.1%-44.3%-11.5%
2021+5.5%+3.6%+8.1%+37.2%+11.4%
2022+12.7%+10.7%+8.2%+52.4%+16.1%
2023+11.1%+8.5%+6.5%+39.7%+11.3%
2024+6.7%+3.8%+2.5%+19.4%+4.4%
2025+7.5%+4.3%+3.0%+23.4%+4.7%
PeriodCashDebtNet debtCurrent ratio
2020$415M$33.1B$32.7B1.81
2021$5.3B$26.9B$21.6B1.70
2022$8.6B$27.9B$19.3B1.76
2023$5.4B$28.5B$23.1B1.59
2024$3.2B$28.8B$25.5B1.17
2025$3.7B$34.4B$30.7B1.26
PeriodMarket capEnterprise valueP/SP/E
2020$26.8B$59.5B0.4-2.7
2021$40.6B$62.2B0.323.6
2022$59.6B$78.9B0.34.1
2023$60.4B$83.4B0.46.2
2024$47.6B$73.1B0.313.8
2025$49.6B$80.3B0.412.3
Q3 2024$35.1B
Q4 2024$33.1B
Q1 2025$31.5B
Q2 2025$33.8B
Q3 2025$34.8B
Q4 2025$32.6B
Q1 2026$34.6B
Q2 2026$52B
PeriodRevenueGrowthNet incomeFCF
Q3 2024$35.1B-14%$622M$1B
Q4 2024$33.1B-9%$371M$1.4B
Q1 2025$31.5B-4%-$74M-$727M
Q2 2025$33.8B-11%$1.2B$1.9B
Q3 2025$34.8B-1%$1.4B$1.7B
Q4 2025$32.6B-2%$1.5B$1.9B
Q1 2026$34.6B+10%$511M$208M
Q2 2026$52B+54%$5.1B$9.1B
PeriodGross marginOperating marginNet marginROEROA
Q3 2024+6.0%+3.8%+1.8%+3.3%+0.8%
Q4 2024+5.3%+2.5%+1.1%+2.1%+0.5%
Q1 2025+4.3%+1.1%-0.2%-0.5%-0.1%
Q2 2025+8.8%+5.6%+3.6%+7.3%+1.5%
Q3 2025+8.0%+4.8%+3.9%+8.0%+1.6%
Q4 2025+8.9%+5.7%+4.7%+8.9%+1.8%
Q1 2026+9.6%+4.1%+1.5%+3.1%+0.6%
Q2 2026+17.2%+14.1%+9.9%+26.9%+5.4%
PeriodCashDebtNet debtCurrent ratio
Q3 2024$4B$29.4B$25.4B1.23
Q4 2024$3.2B$28.8B$25.5B1.17
Q1 2025$3.8B$32.1B$28.3B1.19
Q2 2025$1.7B$30B$28.4B1.23
Q3 2025$2.7B$34.2B$31.5B1.32
Q4 2025$3.7B$34.4B$30.7B1.26
Q1 2026$2.2B$34.3B$32.2B1.18
Q2 2026$7.8B$34.3B$26.5B1.25
PeriodMarket capEnterprise valueP/SP/E
Q3 2024$53.9B$79.3B1.521.7
Q4 2024$44.6B$70.2B1.330.1
Q1 2025$45.6B$73.9B1.4-151.8
Q2 2025$51.3B$79.7B1.510.5
Q3 2025$58.4B$89.9B1.710.7
Q4 2025$48.6B$79.3B1.57.9
Q1 2026$72B$104.2B2.135.3
Q2 2026$74.4B$100.9B1.43.6

Refreshed 2h ago

Charts: revenue, profit, cash flow & valuation
Revenue$52BQ2 2026
$13B$26B$39B$52BQ3 2023: $40.9BQ4 2023: $36.3BQ1 2024: $32.7BQ2 2024: $37.9BQ3 2024: $35.1BQ4 2024: $33.1BQ1 2025: $31.5BQ2 2025: $33.8BQ3 2025: $34.8BQ4 2025: $32.6BQ1 2026: $34.6BQ2 2026: $52BQ3 2023Q2 2026
Net income$5.1BQ2 2026
$1.2B$2.5B$3.8B$5.1BQ3 2023: $3.3BQ4 2023: $1.5BQ1 2024: $937MQ2 2024: $1.5BQ3 2024: $622MQ4 2024: $371MQ1 2025: -$74MQ2 2025: $1.2BQ3 2025: $1.4BQ4 2025: $1.5BQ1 2026: $511MQ2 2026: $5.1BQ3 2023Q2 2026
EBITDA$8.3BQ2 2026
$2.1B$4.1B$6.2B$8.3BQ3 2023: $5.8BQ4 2023: $3.4BQ1 2024: $2.8BQ2 2024: $3.5BQ3 2024: $2.3BQ4 2024: $2.1BQ1 2025: $1.5BQ2 2025: $3BQ3 2025: $3.6BQ4 2025: $3.6BQ1 2026: $2BQ2 2026: $8.3BQ3 2023Q2 2026
Free cash flow$9.1BQ2 2026
$1.7B$4.2B$6.7B$9.1BQ3 2023: $4.5BQ4 2023: $591MQ1 2024: $947MQ2 2024: $2.8BQ3 2024: $1BQ4 2024: $1.4BQ1 2025: -$727MQ2 2025: $1.9BQ3 2025: $1.7BQ4 2025: $1.9BQ1 2026: $208MQ2 2026: $9.1BQ3 2023Q2 2026
EPS$17.7Q2 2026
$4.24$8.72$13.2$17.7Q3 2023: $8.28Q4 2023: $3.84Q1 2024: $2.59Q2 2024: $4.33Q3 2024: $1.87Q4 2024: $1.16Q1 2025: -$0.24Q2 2025: $3.96Q3 2025: $4.51Q4 2025: $5.13Q1 2026: $1.73Q2 2026: $17.7Q3 2023Q2 2026
Cash / Debt$7.8BQ2 2026
$8.6B$17.2B$25.8B$34.4BQ3 2023 · Cash: $8.5BQ3 2023 · Debt: $28.6BQ4 2023 · Cash: $5.4BQ4 2023 · Debt: $28.5BQ1 2024 · Cash: $3.2BQ1 2024 · Debt: $28.5BQ2 2024 · Cash: $4.4BQ2 2024 · Debt: $30.1BQ3 2024 · Cash: $4BQ3 2024 · Debt: $29.4BQ4 2024 · Cash: $3.2BQ4 2024 · Debt: $28.8BQ1 2025 · Cash: $3.8BQ1 2025 · Debt: $32.1BQ2 2025 · Cash: $1.7BQ2 2025 · Debt: $30BQ3 2025 · Cash: $2.7BQ3 2025 · Debt: $34.2BQ4 2025 · Cash: $3.7BQ4 2025 · Debt: $34.4BQ1 2026 · Cash: $2.2BQ1 2026 · Debt: $34.3BQ2 2026 · Cash: $7.8BQ2 2026 · Debt: $34.3BQ3 2023Q2 2026
CashDebt
Profitability+17.2%Q2 2026
+4.1%+8.5%+12.8%+17.2%Q3 2023 · Gross margin: +12.6%Q4 2023 · Gross margin: +7.8%Q1 2024 · Gross margin: +7.0%Q2 2024 · Gross margin: +8.3%Q3 2024 · Gross margin: +6.0%Q4 2024 · Gross margin: +5.3%Q1 2025 · Gross margin: +4.3%Q2 2025 · Gross margin: +8.8%Q3 2025 · Gross margin: +8.0%Q4 2025 · Gross margin: +8.9%Q1 2026 · Gross margin: +9.6%Q2 2026 · Gross margin: +17.2%Q3 2023 · Operating margin: +11.6%Q4 2023 · Operating margin: +5.0%Q1 2024 · Operating margin: +5.5%Q2 2024 · Operating margin: +6.7%Q3 2024 · Operating margin: +3.8%Q4 2024 · Operating margin: +2.5%Q1 2025 · Operating margin: +1.1%Q2 2025 · Operating margin: +5.6%Q3 2025 · Operating margin: +4.8%Q4 2025 · Operating margin: +5.7%Q1 2026 · Operating margin: +4.1%Q2 2026 · Operating margin: +14.1%Q3 2023 · Net margin: +8.0%Q4 2023 · Net margin: +4.0%Q1 2024 · Net margin: +2.9%Q2 2024 · Net margin: +4.0%Q3 2024 · Net margin: +1.8%Q4 2024 · Net margin: +1.1%Q1 2025 · Net margin: -0.2%Q2 2025 · Net margin: +3.6%Q3 2025 · Net margin: +3.9%Q4 2025 · Net margin: +4.7%Q1 2026 · Net margin: +1.5%Q2 2026 · Net margin: +9.9%Q3 2023Q2 2026
Gross marginOperating marginNet margin
Revenue growth+53.8%Q2 2026
+2.8%+19.8%+36.8%+53.8%Q3 2024: -14.2%Q4 2024: -8.6%Q1 2025: -3.6%Q2 2025: -10.9%Q3 2025: -0.8%Q4 2025: -1.7%Q1 2026: +9.7%Q2 2026: +53.8%Q3 2023Q2 2026
Shares outstanding291MQ2 2026
99M198M297M396MQ3 2023: 396MQ4 2023: 377MQ1 2024: 362MQ2 2024: 350MQ3 2024: 332MQ4 2024: 321MQ1 2025: 313MQ2 2025: 309MQ3 2025: 304MQ4 2025: 299MQ1 2026: 295MQ2 2026: 291MQ3 2023Q2 2026
Valuation3.6Q2 2026
-105.0-58.2-11.535.3Q3 2023 · P/E: 4.5Q4 2023 · P/E: 9.6Q1 2024 · P/E: 19.7Q2 2024 · P/E: 10.1Q3 2024 · P/E: 21.7Q4 2024 · P/E: 30.1Q1 2025 · P/E: -151.8Q2 2025 · P/E: 10.5Q3 2025 · P/E: 10.7Q4 2025 · P/E: 7.9Q1 2026 · P/E: 35.3Q2 2026 · P/E: 3.6Q3 2023 · P/S: 1.5Q4 2023 · P/S: 1.5Q1 2024 · P/S: 2.3Q2 2024 · P/S: 1.6Q3 2024 · P/S: 1.5Q4 2024 · P/S: 1.3Q1 2025 · P/S: 1.4Q2 2025 · P/S: 1.5Q3 2025 · P/S: 1.7Q4 2025 · P/S: 1.5Q1 2026 · P/S: 2.1Q2 2026 · P/S: 1.4Q3 2023Q2 2026
P/EP/S
Revenue$132.7B2025
$44.4B$88.7B$133.1B$177.5B2018: $86.1B2019: $111.1B2020: $69.8B2021: $120B2022: $177.5B2023: $148.4B2024: $138.9B2025: $132.7B20182025
Net income$4B2025
-$3.7B$2.3B$8.4B$14.5B2018: $2.8B2019: $2.6B2020: -$9.8B2021: $9.7B2022: $14.5B2023: $9.7B2024: $3.4B2025: $4B20182025
EBITDA$11.7B2025
-$457.5M$8B$16.4B$24.9B2018: $6.8B2019: $7.7B2020: -$8.9B2021: $7.4B2022: $24.9B2023: $18.6B2024: $10.6B2025: $11.7B20182025
Free cash flow$4.8B2025
$3.2B$6.8B$10.4B$13.9B2018: $3B2019: $4.6B2020: -$368M2021: $2.9B2022: $13.9B2023: $12.2B2024: $6.1B2025: $4.8B20182025
EPS$13.32025
-$4.32$6.49$17.3$28.12018: $5.282019: $3.972020: -$15.12021: $2.692022: $28.12023: $23.72024: $10.12025: $13.320182025
Cash / Debt$3.7B2025
$8.6B$17.2B$25.8B$34.4B2018 · Cash: $1.7B2018 · Debt: $27.5B2019 · Cash: $1.4B2019 · Debt: $30.5B2020 · Cash: $415M2020 · Debt: $33.1B2021 · Cash: $5.3B2021 · Debt: $26.9B2022 · Cash: $8.6B2022 · Debt: $27.9B2023 · Cash: $5.4B2023 · Debt: $28.5B2024 · Cash: $3.2B2024 · Debt: $28.8B2025 · Cash: $3.7B2025 · Debt: $34.4B20182025
CashDebt
Profitability+7.5%2025
-10.0%-2.4%+5.2%+12.7%2018 · Gross margin: +8.0%2019 · Gross margin: +7.8%2020 · Gross margin: +1.0%2021 · Gross margin: +5.5%2022 · Gross margin: +12.7%2023 · Gross margin: +11.1%2024 · Gross margin: +6.7%2025 · Gross margin: +7.5%2018 · Operating margin: +5.4%2019 · Operating margin: +4.0%2020 · Operating margin: -17.6%2021 · Operating margin: +3.6%2022 · Operating margin: +10.7%2023 · Operating margin: +8.5%2024 · Operating margin: +3.8%2025 · Operating margin: +4.3%2018 · Net margin: +3.2%2019 · Net margin: +2.4%2020 · Net margin: -14.1%2021 · Net margin: +8.1%2022 · Net margin: +8.2%2023 · Net margin: +6.5%2024 · Net margin: +2.5%2025 · Net margin: +3.0%20182025
Gross marginOperating marginNet margin
Revenue growth-4.4%2025
-9.9%+17.4%+44.7%+71.9%2019: +29.1%2020: -37.2%2021: +71.9%2022: +47.9%2023: -16.4%2024: -6.4%2025: -4.4%20182025
Shares outstanding305M2025
166M332M498M664M2018: 526M2019: 664M2020: 649M2021: 638M2022: 516M2023: 409M2024: 341M2025: 305M20182025
Valuation12.32025
3.910.417.023.62018 · P/E: 11.02019 · P/E: 15.12020 · P/E: -2.72021 · P/E: 23.62022 · P/E: 4.12023 · P/E: 6.22024 · P/E: 13.82025 · P/E: 12.32018 · P/S: 0.42019 · P/S: 0.42020 · P/S: 0.42021 · P/S: 0.32022 · P/S: 0.32023 · P/S: 0.42024 · P/S: 0.32025 · P/S: 0.420182025
P/EP/S

Next catalyst

Catalysts

Earnings
2026-11-03
Revenue est. $45.2B · Updated 2h ago
Dividend
$1
2026-08-19

No unusual perp activity right now.

Research data

Analysts, filings and peer context

Estimates

6
DateEPS estimateRevenue estimateGrowthAnalysts
FY 202655.85$176.5B+33%11
FY 202743.26$161.6B+22%11
FY 202823.32$157.2B+18%5
FY 202923.93$162.3B+22%1
FY 203040.10$170.7B+29%1
Q1 202710.02$41.7B+21%4

Company events

6
2026-11-03EarningsActual - / Estimate 22.52-
2026-08-19Dividend$1-
2026-08-04EarningsActual 17.73 / Estimate 14.27Beat
2026-05-20Dividend$1-
2026-05-05EarningsActual 1.65 / Estimate 0.74Beat
2026-02-18Dividend$1-

Peer comparison

Similar listed perps

Analyst track record

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

12 months3 years
Ratings113328
Analysts2126
Buy / hold / sell77 / 35 / 1209 / 117 / 2
Upgrades / downgrades / initiations1 / 0 / 42 / 3 / 8
Price targets hit / missed107 / 5 (96%)308 / 5 (98%)
Avg. return after a rating (TipRanks)+73.1%+115.1%
Best / worst call+142.5% / -8.7%+212.6% / -8.7%

After buy calls on this stock: median 21-day move +2.9% vs S&P 500 +1.0% (n = 202)

Most accurate on this stock

Share of an analyst's price targets on this stock that the price reached within 12 months (our measurement over the last 3 years, at least 8 targets). It describes past calls, not the odds of the current one.

  1. Jason GabelmanTD Cowen92% hit rate on this stock · 12 targets measuredBuytarget $375Aug 5, 2026
  2. Justin JenkinsRaymond James88% hit rate on this stock · 8 targets measuredBuytarget $445Sep 14, 2026
  3. Paul ChengScotiabank83% hit rate on this stock · 18 targets measuredBuytarget $174Feb 27, 2026

Latest ratings

DateAnalystCallTarget
Sep 14, 2026Manav GuptaUBSBuyMaintained$450
Sep 14, 2026Justin JenkinsRaymond JamesBuyMaintained$445
Sep 14, 2026Justin JenkinsRaymond JamesBuyMaintained$445
Sep 14, 2026Joe LaetschMorgan StanleyBuyReiterated$453
Sep 14, 2026Manav GuptaUBSBuyMaintained$450
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$150$200$250$300$350$400Oct 25 · Buy 9 · Hold 8 · Sell 0Oct 25Nov 25 · Buy 9 · Hold 7 · Sell 0Dec 25 · Buy 11 · Hold 7 · Sell 0Dec 25Jan 26 · Buy 10 · Hold 6 · Sell 0Feb 26 · Buy 10 · Hold 6 · Sell 0Feb 26Mar 26 · Buy 10 · Hold 6 · Sell 0Apr 26 · Buy 11 · Hold 6 · Sell 0Apr 26May 26 · Buy 11 · Hold 6 · Sell 1Jun 26 · Buy 11 · Hold 6 · Sell 1Jun 26Jul 26 · Buy 13 · Hold 7 · Sell 1Aug 26 · Buy 11 · Hold 8 · Sell 0Aug 26Sep 26 · Buy 11 · Hold 8 · Sell 0Oct 25 · avg. target $198Nov 25 · avg. target $204Dec 25 · avg. target $205Jan 26 · avg. target $200Feb 26 · avg. target $203Mar 26 · avg. target $220Apr 26 · avg. target $234May 26 · avg. target $251Jun 26 · avg. target $257Jul 26 · avg. target $281Aug 26 · avg. target $308Sep 26 · avg. target $345Oct 25 · month-end close $195Nov 25 · month-end close $194Dec 25 · month-end close $163Jan 26 · month-end close $176Feb 26 · month-end close $198Mar 26 · month-end close $244Apr 26 · month-end close $248May 26 · month-end close $249Jun 26 · month-end close $256Jul 26 · month-end close $316Aug 26 · month-end close $373Sep 26 · month-end close $422

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

TipRanks data via FMP · computed Sep 18, 2026 · 113 ratings

Frequently asked questions

Where can I trade MPC perpetual futures?

Marathon Petroleum (MPC) perpetual futures trade on 1 crypto venues, including BingX. PerpEquities compares them by live price, funding rate, open interest and liquidity.

Can I trade MPC around the clock?

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

What is the funding rate on MPC perpetuals?

Right now the MPC perp funding rate is -4.7% annualized (venue median), ranging from -4.7% to -4.7% across 1 venues. A positive rate means longs pay shorts. PerpEquities shows the live rate and its history for every venue.

How does the MPC perp price compare to the Marathon Petroleum stock?

The venue-median MPC perp mark is $425.2 versus a reference stock price of $425.2, 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 MPC perpetual future?

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

What is MPCUSDT perpetual?

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

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