SEI Perpetual Futures Trade on CFTC-Regulated OG.com Markets

$SEI perpetual futures are trading on OG.com Markets, a CFTC-regulated exchange operated by North American Derivatives Exchange (Nadex), adding a U.S. venue for leveraged exposure to the Sei blockchain's native token.

The exchange self-certified the contract on Oct. 8, and the CFTC's product register lists it as certified. The submission targeted Oct. 12 for listing. The exchange's Oct. 16 trade log records two 100-$SEI executions at 4:54 a.m. ET.

The contract settles in U.S. dollars and has no expiration date, allowing traders to maintain long or short exposure without rolling into a new futures contract. Customer access runs through a CFTC-registered futures commission merchant, or an introducing broker connected to one.

Sei highlighted the listing Friday, calling it “Another regulated way to access $SEI.”

Eight-Hour Funding, Risk-Based Margin

Each contract represents one $SEI, with a minimum trading unit of 100 contracts. Trading runs around the clock, subject to maintenance windows and exchange-imposed halts.

Funding payments between long and short holders are designed to keep the futures price aligned with the CF Sei-Dollar Spot Rate, administered by CF Benchmarks. When the funding rate is positive, longs pay shorts; when it is negative, shorts pay longs.

Funding is calculated over eight-hour intervals, with a maximum rate of 2% in either direction per interval under the filed terms. Funding adjustments are collected or paid alongside variation margin—the cash adjustment for changes in the position's value. The contract settles twice daily, at noon and 5 p.m. ET.

Traders must post and maintain risk-based initial margin in dollars. A separate exchange notification sets an initial margin range of 15% to 30% across its crypto-perpetual lineup, without assigning a $SEI-specific percentage. The $SEI certification allows margin calls or liquidation if collateral falls below the applicable requirement.

OG.com's launch notification groups $SEI with $BTC, $ETH, $SOL, HYPE and ZEC. The expansion follows Kraken's June launch of U.S.-regulated perpetuals through Bitnomial. Kraken's launch announcement listed nine assets, including $BTC, $ETH, $SOL and XRP, using an eight-hour funding cycle.