Kalshi Launches 24/7 Gold and Silver Perpetuals

Key Takeaways

• Kalshi announced round-the-clock gold and silver perpetual futures on September 10, 2026.
• The contracts settle in cash and have no fixed expiry; periodic funding payments link their prices to the underlying metals.

Details

Kalshi announced the launch of gold and silver perpetual futures in a September 10 update, adding precious metals to its derivatives offering.

The contracts, GOLDPERP and SILVERPERP, track metal prices without requiring physical delivery. Kalshi submitted self-certification filings for both products to the U.S. Commodity Futures Trading Commission on September 8.

The gold contract filing names Pyth Network as its reference-price source. It provides for continuous trading, including weekends and holidays, subject to exchange-imposed halts or maintenance. The silver filing sets out the same trading framework for silver.

Both contracts use funding transfers between long and short positions to help keep prices aligned with their reference markets. Trading can continue when the reference market is closed, but price movements during those closed periods are excluded from funding calculations.

Market Analysis

A perpetual structure allows metal-price exposure to continue without moving a position into a new contract at each expiry. That changes the way ongoing exposure is managed, but holding costs still include funding and trading fees.

Kalshi's fee guidance, dated July 24, says trading fees apply to the full notional position value and are charged on both opening and closing trades. Funding is separate: it passes between traders and can be either a payment or a receipt, depending on the position and market conditions.

Note: This article is for news reporting purposes only and does not constitute investment advice.