Perpetual futures, or Perps, are one of the biggest things in crypto trading today.
They allow traders to open long or short positions with leverage and hold them without expiry dates — perfect for those who want flexibility.
In 2025, the Perps landscape is shifting fast. While big centralized exchanges still dominate, new decentralized platforms are growing quickly. And one new player is changing the rules completely — Blum, the leading Telegram-native Perps trading experience.
In this article, we’ll compare five of the top platforms: Blum, Aster, Hyperliquid, Binance, and Lighter. You’ll see how they differ in fees, leverage, and usability — and why Blum’s Telegram-first approach is opening the door to millions of new traders.
Before jumping in, here are the most important things to check:
– Security and transparency: Audited smart contracts, on-chain visibility, and proven reliability build trust.
– Fees and funding: The lower they are, the more you keep from each trade.
– User experience: Some platforms require complex wallet setups or KYC. Others, like Blum, are as easy as sending a message.
– Liquidity and assets: More trading pairs and deeper liquidity mean better execution and less slippage.
– Leverage options: Higher leverage increases both potential profit and risk — the right balance is key and the responsible platforms offer you the leverage level that you need
Blum isn’t just another Perps platform — it’s a whole new way to trade. Instead of signing up on websites, passing KYC, or connecting wallets, you can open a position right inside Telegram.
It takes less than 30 seconds to start:
– Open the Blum app
– Choose the “Perps” tab
– Select a token
– Set your leverage (up to 100×)
– Tap “Confirm”
That’s it — you’re trading.
No browser tabs. No extensions. No seed phrases. Just simple, secure, one-tap trading.
Blum’s cross-margin wallet helps manage capital efficiently, while tools like stop-loss and take-profit protect positions. And since everything runs inside Telegram, you can monitor markets, manage trades, and chat with your friends all in one place.
Blum focuses on what most platforms forget — accessibility. It’s not only for advanced traders, but also for anyone who wants to start without learning complex DeFi setups.
Aster made noise in 2025 with its 1001× leverage and support for both crypto and stock Perps. It’s a DeFi-native platform that connects multiple chains without bridges, letting users trade from almost any ecosystem.
It’s a strong choice for professionals who need flexibility and high-risk strategies, though its complexity and reports of inflated trading data make it less friendly for beginners.
Hyperliquid runs on its own blockchain and delivers some of the best performance among decentralized exchanges. It’s known for sub-second transactions, deep liquidity, and minimal fees.
Still, it’s more suitable for experienced users who already understand wallets, signatures, and gas settings. The setup takes time, while Blum’s onboarding takes seconds.
Binance still dominates trading volumes. It offers massive liquidity, hundreds of pairs, and all the tools professional traders need. However, it is a centralized exchange, requires KYC, and holds user funds — something more and more traders are moving away from.
Blum gives users the same access to Perps without compromising control or privacy.
Lighter - High-speed trading, built on Ethereum Layer 2
Lighter is a cutting-edge decentralized perpetual futures trading platform built on Ethereum Layer 2, leveraging zero-knowledge (ZK) infrastructure for verifiable, high-speed trading.
It is a great choice for advanced traders but ZK concepts may confuse beginners.
Blum doesn’t try to outdo CEXs on liquidity or compete with DEXs on tech complexity. It focuses on what crypto needs most right now — accessibility and simplicity.
Here’s what makes it different:
– Instant start: no signup, no KYC, no downloads
– Fully inside Telegram: trade, track, and share PnL directly in chat
– Simple interface: all essentials in two taps – Trade → Perps
– Safe environment: TON-based, fast transactions, transparent funding
– Built for everyone: whether you’re a degen or a first-time trader
While others chase bigger numbers, Blum is focused on the next billion users — the ones who want to trade without barriers.
Step 1: Open Telegram and start Blum
Step 2: Deposit USDT on TON (and a little TON for gas)
Step 3: Tap “Trade” → “Perps”
Step 4: Pick a token (BTC, ETH, TON, etc.)
Step 5: Choose your leverage up to 100×
Step 6: Set stop-loss or take-profit if needed
Step 7: Tap “Confirm” – done
Everything happens right inside Telegram.
No web logins, no waiting, no confusion.
The world of Perps trading is changing fast. Platforms like Hyperliquid, Aster, and Lighter push the limits of DeFi performance. Binance continues to dominate the old-school way.
But Blum offers something no one else does – a direct, Telegram-native experience that turns crypto trading into something anyone can do. It’s the simplest door into on-chain Perps.
If CEXs made trading popular and DEXs made it decentralized, Blum makes it accessible.
The next wave of traders won’t start on websites. They’ll start right inside their chat apps — and Blum is already there.
Trade Perps directly in Telegram with Blum.
