SPY

4.9x

LiveData from Kalshi traders

Up 50%Down 50%

Max leverage4.9x

Trading hoursSun 6pm – Fri 5pm ET

Volume 24h$974.2K

Funding rate—

Annualized funding rate (7d)—

Launched in 1993 as the first U.S.-listed exchange-traded fund, SPY tracks the S&P 500 index of 500 large U.S. companies. The index is weighted by company size, so the largest companies have the biggest influence on its price. This contract tracks the price of SPY shares (SPY).

What to watch: Company earnings, Federal Reserve interest-rate decisions, and jobs and inflation reports.

FAQs

Does the market end?

No. Perps have no expiration date, so you can hold a position as long as you want and close it any time the market is open.

What is leverage?

Leverage lets you control a larger position with less money upfront. It magnifies both gains and losses relative to what you put in.

What is liquidation?

If the asset price moves against you and your margin falls below the required minimum, Kalshi will close your position to prevent further losses. In fast-moving markets, or when a market reopens after a closure, prices can move quickly, and you may lose some or all of your margin.

What is the funding rate?

Funding keeps the perp price close to the price of the underlying asset. These payments encourage trades that pull the two prices back together, and are paid directly between traders. Funding is capped at 2% of your position value per funding period.

Is Kalshi Invest regulated?

Yes. Kalshi Invest markets are CFTC-approved true perpetual futures. Kalshi is the first company in US history to offer regulated perpetual futures to American traders.

How is this different from owning a stock?

Instead of buying shares, you’re trading on whether a company’s stock price goes up or down.

What happens with dividends, splits, and other company changes?

Special dividends and spin-offs: Cash is added if you hold Up, and deducted if you hold Down.Stock splits: Your position updates to the split ratio.Mergers, delistings, or bankruptcy: Trading may end, and your position settles at a final price.

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Perpetual futures involve substantial risk of loss and are not suitable for all customers; you may lose all funds you commit, including fees and commissions, and you may be required to post additional margin or make additional payments. All trading decisions are your own and at your own risk. By proceeding, you acknowledge that you have read the CFTC Risk Disclosure Statement and agree to the Terms of Use and Customer Agreement.

LiveData from Kalshi traders

Up 50%Down 50%

Max leverage4.9x

Trading hoursSun 6pm – Fri 5pm ET

Volume 24h$974.2K

Funding rate—

Annualized funding rate (7d)—

What to watch: Company earnings, Federal Reserve interest-rate decisions, and jobs and inflation reports.

FAQs

Does the market end?

No. Perps have no expiration date, so you can hold a position as long as you want and close it any time the market is open.

What is leverage?

Leverage lets you control a larger position with less money upfront. It magnifies both gains and losses relative to what you put in.

What is liquidation?

What is the funding rate?

Is Kalshi Invest regulated?

Yes. Kalshi Invest markets are CFTC-approved true perpetual futures. Kalshi is the first company in US history to offer regulated perpetual futures to American traders.

How is this different from owning a stock?

Instead of buying shares, you’re trading on whether a company’s stock price goes up or down.

What happens with dividends, splits, and other company changes?

Learn more

SPY

SPDR S&P 500 ETF Trust Price Chart

FAQs

FAQs