PerpEquitiesReference market
Closed- Regular hours
- CLOSED – CLOSED
- Next holiday
- Oct 1, 2026 · National Day
Equity · Technology
Tencent Holdings (TENCENT) perpetual futures
TENCENT perpetual futures on 11 crypto exchanges – live perp price vs the stock, funding rate, open interest and where to trade TENCENTUSDT.
Tencent Holdings Limited provides value-added services, digital advertising, online gaming, social networking, financial technology, cloud computing, and entertainment content production.
$54.81+0.7%
Price chart
–
Use the left and right arrow keys to inspect points on the chart.
Collecting venue price data...
venue perp mark · KuCoin (TENCENT/USDT)
Auto: highest-volume live perp venueOpen in TradingView
Trading data
Perpetual market activity
11/11 live markets
Trading data
Perpetual market activity
Venues
11
Live markets
11/11
24h volume
$3.2MCoverage: 10/11 marketsExchange-reported volume: $4.7M
Open interest
$23.1MCoverage: 8/11 markets
Best liquidity
$2.3M
LBank
Tightest spread
+1.8 bps
LBank
Highest volume
$1.1M
LBank
Settlement mix
USDT · 11/11
Perp/spot vol.
0.00x
Spot volume $856.6M
OI / float
+0.01%
Float $341.2B
Spot performance
1D+0.66%
5D-3.16%
1M-9.01%
6M-22.39%
YTD-28.48%
1Y-31.95%
Venue matrix
11 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 | TENCENT/USDT | Trading | $54.83 | +11.0% APR +0.00500% every 4h | +9.1 bps | $2.8K | $1.5M⚠ | $32.9K | USDT | 20x | |
 LBank | Trade | TENCENT/USDT | Trading | $54.81 | 0.0% APR 0.000% every 4h | +1.8 bps | $2.3M | $1.1M | - | USDT | 50x | |
 Binance | Trade | TENCENT/USDT | Trading | $54.81 | 0.0% APR 0.000% every 4h | +1.8 bps | $104.1K | $739.9K | $2.6M | USDT | - | |
 Ourbit | Trade | TENCENT/USDT | Trading | $54.80 | 0.0% APR 0.000% every 4h | +3.6 bps | $150.7K | $390.1K | $100.3K | USDT | 20x | |
 XT.com | Trade | TENCENT/USDT | Trading | $54.78 | +11.0% APR +0.010% every 8h | +5.5 bps | $17.2K | $319.2K | $17M | USDT | 25x | |
 Bitget | Trade | TENCENT/USDT | Trading | $54.79 | 0.0% APR 0.000% every 8h | +7.3 bps | $880.3K | $289K | $1.6M | USDT | 20x | |
 Gate.io | Trade | TENCENT/USDT | Trading | $54.80 | 0.0% APR 0.000% every 8h | +18.2 bps | - | $242.2K | $1.6M | USDT | 25x | |
 Bitunix | Trade | TENCENT/USDT | Trading | $54.81 | -13.5% APR -0.00618% every 4h | +5.5 bps | $260.2K | $130K | - | USDT | 25x | |
 Bybit | Trade | TENCENT/USDT | Trading | $54.79 | 0.0% APR 0.000% every 8h | +31.0 bps | $15.4K | $21.1K | $228.8K | USDT | 25x | |
 HTX | Trade | TENCENT/USDT | Trading | $54.90 | - | +73.0 bps | $1.8K | $16.2K | - | USDT | - | |
 Aster | Trade | TENCENTUSDT | Trading | $54.81 | 0.0% APR 0.000% every 8h | +29.2 bps | $24.2K | $2.7K | $42.5K | USDT | - |
Tradability
Execution quality
Entry cost and depth per venue at $1k–$100k
Tradability
Execution quality
Entry cost and depth per venue at $1k–$100kAdequate liquidity · 7 of 11 venues absorb $10k · Typical cost: +11.5 bps – +36.5 bps
Cheapest execution: LBank · +7.6 bps
Too thin: Aster, KuCoin, 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
TENCENTTightest spread
TENCENTHighest volume
TENCENTFunding history
Stored venue snapshots by market
Funding history
Stored venue snapshots by marketCompany data
Company fundamentals
Updated 20m ago
Company data
Company fundamentals
Market cap
$492.3B
Updated 20m ago
Revenue
$116.9B
Trailing 12 months
Revenue growth
+11%
Next fiscal year
Profit margin
+29.8%
P/E
14.1
Peer P/E 36.4
Free cash flow
$26.6B
Trailing 12 months
More metrics
Net income
$34.9B
Trailing 12 months
P/S
4.2
Peer P/E
36.4
Similar listed perps
Revenue estimate
$124.1B
Next fiscal year
Earnings
2026-11-18
Revenue est. $31.5B · Updated 20m ago
Dividend
$5.3
2026-05-15
Fundamental detail
Annual + quarterlyLatest revenue$111.7B
Net margin+29.9%
Free cash flow$28.3B
Net debt$38.4B
PeriodRevenueGrowthNet incomeFCF
2020$71.7B+28%$23.8B$19B
2021$83.3B+16%$33.4B$16.8B
2022$82.4B-1%$28B$14.2B
2023$90.5B+10%$17.1B$25.9B
2024$98.1B+8%$28.8B$27B
2025$111.7B+14%$33.4B$28.3B
PeriodGross marginOperating marginNet marginROEROA
2020+46.0%+38.2%+33.2%+22.8%+12.0%
2021+43.9%+48.5%+40.1%+27.9%+14.0%
2022+43.1%+20.0%+33.9%+26.5%+12.1%
2023+48.1%+26.3%+18.9%+14.3%+7.3%
2024+52.9%+31.5%+29.4%+19.9%+10.9%
2025+56.3%+32.1%+29.9%+19.5%+11.0%
PeriodCashDebtNet debtCurrent ratio
2020$23B$38.9B$15.9B1.22
2021$25.3B$48B$22.7B1.23
2022$23.4B$52.6B$29.3B1.33
2023$26.1B$55B$28.9B1.50
2024$20.2B$53.2B$33B1.28
2025$22B$60.4B$38.4B1.44
PeriodMarket capEnterprise valueP/SP/E
2020$617B$632.9B8.626.0
2021$485.7B$508.4B5.814.5
2022$396.7B$425.9B4.814.2
2023$383.9B$412.8B4.222.0
2024$539.6B$572.6B5.518.7
2025$726.5B$764.9B6.522.3
PeriodRevenueGrowthNet incomeFCF
Q3 2024$24.9B+8%$7.9B$7.5B
Q4 2024$25.6B+11%$7.6B$2.6B
Q1 2025$26.8B+13%$7.1B$8B
Q2 2025$27.4B+15%$8.3B$7.7B
Q3 2025$28.7B+15%$9.4B$10.6B
Q4 2025$28.9B+13%$8.7B$5.7B
Q1 2026$28.9B+8%$8.6B$9.6B
Q2 2026$30.4B+11%$8.3B$741.7M
PeriodGross marginOperating marginNet marginROEROA
Q3 2024+53.1%+31.9%+31.8%+5.8%+3.1%
Q4 2024+52.6%+29.9%+29.8%+5.3%+2.9%
Q1 2025+55.8%+32.0%+26.6%+4.6%+2.5%
Q2 2025+56.9%+32.6%+30.2%+5.0%+2.8%
Q3 2025+56.4%+33.0%+32.7%+5.4%+3.0%
Q4 2025+55.9%+31.0%+30.0%+5.0%+2.9%
Q1 2026+54.6%+33.7%+29.6%+5.1%+2.8%
Q2 2026+57.8%+32.9%+27.2%+4.9%+2.6%
PeriodCashDebtNet debtCurrent ratio
Q3 2024$22.1B$51.9B$29.8B1.29
Q4 2024$20.2B$53.2B$33B1.28
Q1 2025$31.1B$60.2B$29.2B1.30
Q2 2025$27.1B$61.3B$34.2B1.25
Q3 2025$24.3B$60.8B$36.5B1.36
Q4 2025$22B$60.4B$38.4B1.44
Q1 2026$33.4B$60.1B$26.7B1.43
Q2 2026$31.9B$70.1B$38.2B1.29
PeriodMarket capEnterprise valueP/SP/E
Q3 2024$550.9B$580.7B22.217.4
Q4 2024$533.8B$566.8B20.817.5
Q1 2025$637.8B$667B23.822.1
Q2 2025$620.4B$654.6B22.618.7
Q3 2025$818.2B$854.7B28.521.8
Q4 2025$724.2B$762.6B25.121.2
Q1 2026$571.5B$598.2B19.816.7
Q2 2026$499.2B$537.4B16.415.1
Historical value series
CashDebt
Gross marginOperating marginNet margin
P/EP/S
CashDebt
Gross marginOperating marginNet margin
P/EP/S
Refreshed 20m ago
Next catalyst
Catalysts
Next catalyst
Catalysts
Earnings
2026-11-18
Revenue est. $31.5B · Updated 20m ago
Dividend
$5.3
2026-05-15
No unusual perp activity right now.
FMP reference data
Market context
FMP 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 202629.32$124.1B+11%33
FY 202731.18$135.9B+22%33
FY 202834.42$149B+33%24
FY 202942.81$172.5B+54%24
FY 20300.00$163.1B+46%25
Q2 20267.29$30B+10%12
Company events
62026-11-18EarningsActual - / Estimate 8.56-
2026-08-12EarningsActual 8.55 / Estimate 8.4Beat
2026-05-15Dividend$5.3-
2026-05-13EarningsActual 8.38 / Estimate 8.22Beat
2026-03-18EarningsActual 7.8 / Estimate 7.69Beat
2025-11-11EarningsActual 8.24 / Estimate 7.64Beat
Peer comparison
Similar listed perpsAnalysts
PendingNo analyst data available yet.
Ownership
TENCENT-PERPOwnership data is being populated.
Transcripts
PendingNo transcripts available yet.
Latest updates
Not coveredNot covered
FMP company data
Company intelligence
Updated: Sep 11, 2026, 08:05 PM UTC
FMP company data
Company intelligence
Company profile
- Sector
- Communication Services
- Industry
- Internet Content & Information
- Chief executive
- Huateng Ma
- Employees
- 115,849
- IPO date
- Jun 16, 2004
- Country
- CN
- Exchange
- Hong Kong Stock Exchange
Altman Z-scorei3.73
Piotroski scorei7/9
FMP ratingiB+
Owner earningsiCN¥55.83BCN¥6.04 per share
Rating factors
- Return on equityi
- 4
- Return on assetsi
- 5
- Debt to equityi
- 3
- Price to earningsi
- 2
- Price to booki
- 2
Market cap history
2026-06-11 – 2026-09-11Latest: HK$3.87THigh: HK$4.43TLow: HK$3.87T
Largest fund holders
| Fund | Weight | Shares held |
|---|---|---|
| VXUS | 0.85% | 91.9M |
| VWO | 3.18% | 88M |
| IEMG | 2.36% | 70.5M |
| EIMI.L | 2.36% | 20.4M |
| EEM | 2.68% | 15.5M |
| MCHI | 13.56% | 15.3M |
| VWIGX | 1.85% | 15.1M |
| VEU | 0.93% | 14.9M |
| FAMKX | 4.8% | 11.6M |
| FEMKX | 5.28% | 10.5M |
| KWEB | 10.18% | 8.8M |
| SPEM | 2.63% | 8.6M |
Analyst track record
How the analysts covering TENCENT 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 via FMP · computed Sep 11, 2026 · 0 ratings
Frequently asked questions
Where can I trade TENCENT perpetual futures?
Tencent Holdings (TENCENT) perpetual futures trade on 11 crypto venues, including KuCoin, LBank, Binance. PerpEquities compares them by live price, funding rate, open interest and liquidity.
Can I trade TENCENT around the clock?
Yes. Unlike the underlying stock, TENCENT perpetuals trade 24/7 — including weekends and outside regular market hours.
What is the funding rate on TENCENT perpetuals?
Right now the TENCENT perp funding rate is 0.0% annualized (venue median), ranging from -13.5% to +11.0% across 11 venues. A positive rate means longs pay shorts. PerpEquities shows the live rate and its history for every venue.
How does the TENCENT perp price compare to the Tencent Holdings stock?
The venue-median TENCENT perp mark is $54.8 versus a reference stock price of $54.8, 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 TENCENT perpetual future?
A TENCENT perpetual is a derivative that tracks the price of Tencent Holdings with no expiry date. It lets you take long or short exposure to Tencent Holdings on crypto venues, around the clock.
What is TENCENTUSDT perpetual?
TENCENTUSDT is the symbol most crypto exchanges use for the Tencent Holdings perpetual settled in USDT (Tether). It tracks the TENCENT share price through an index, trades 24/7 with leverage and never expires.
Embed this asset
<a href="https://perpequities.com/stocks/tencent-perp"><img src="https://perpequities.com/badge/tencent-perp.svg" width="240" height="64" alt="TENCENT perpetuals · perpequities.com" loading="lazy"></a>