BABA PERP: up to 10x on Swapmos

Alibaba runs China's largest e-commerce marketplaces alongside a growing cloud business, so BABA reacts to domestic consumer spending, AI and cloud capex, and regulatory or stimulus headlines out of Beijing. The perp tracks the share price with no brokerage account and no share custody. Margin and settlement are in USDC, there is no expiry, and funding changes hands between longs and shorts periodically.

Taking you to the live market

Leverage works in both directions. At 100x, a 1% move against a position takes out all of the margin behind it.