On Polymarket Perps, the invite code and the referral code are the same thing — a single code that both skips the waitlist for new users and pays fee rewards to the person who shared it. Polymarket Perps launched as an invite-only beta, which means most people who tap "Trade" are dropped straight onto a waitlist. There is a simple way around that queue: apply a valid invite/referral code when you sign up. The working code for this guide is 01xce79e, and the fastest way to use it is to open the direct link https://polymarket.com/perps?c=01xce79e, which applies the code automatically to your account. Once it is applied and your account is verified, perpetual futures trading unlocks immediately — no waiting in line.

This guide is written to be genuinely useful rather than a bare code drop. Below you will find what Polymarket Perps actually is, why there is a waitlist in the first place, exactly how to redeem the invite code 01xce79e, how the referral program works and what it pays, what it costs to trade, the assets you can trade, the real risks of leverage, and a long FAQ. There is one quick-reference table near the top that summarizes the essentials; everything else is explained in plain language.

Polymarket Perps is the perpetual-futures product built by Polymarket, the prediction-market platform. Where classic Polymarket lets you buy "Yes" or "No" shares in an event that eventually resolves to $1 or $0, Perps lets you take leveraged long or short positions on the ongoing price of an asset — positions that never expire and stay open until you decide to close them. In other words, it is a crypto-native perpetual futures exchange bolted onto the same account you already use for prediction markets.

The headline difference from a normal prediction market is time and price range. A prediction share is a bet on a binary outcome that lives somewhere between $0.00 and $1.00 and eventually settles. A perpetual, by contrast, tracks the full dollar price of an underlying asset, has no settlement date, and can be held for minutes or for weeks. You are not waiting for an event to resolve — you are trading price movement, and you can go long (betting the price rises) or short (betting it falls).

What makes Perps distinctive versus a standard crypto futures venue is the breadth of what you can trade in one place. Alongside crypto like Bitcoin, Polymarket has rolled out perps on things you normally could not trade around the clock — individual equities such as Nvidia, plus commodities like gold and, over time, indices and other markets. Because it runs on-chain and 24/7, you can trade a stock-linked perp on a weekend or overnight, when the traditional stock market is closed. That "always-on" nature is one of the main reasons traders are interested.

It is important to be clear about what Perps is not. It is not a beginner's toy. Leverage magnifies both gains and losses, positions can be liquidated, and funding costs accrue while you hold. Polymarket itself frames perps as an advanced feature. If you are new to leveraged trading, treat this guide as an orientation, not encouragement to size up.

That table is the only one in this guide by design — everything else below is written out so you actually understand the "why," not just the "what."

Polymarket rolled Perps out as a controlled beta rather than opening it to everyone on day one. Staggering access this way is common for new trading products: it lets the team monitor performance, manage risk systems like liquidations and the funding mechanism, gather feedback, and fix problems before the whole user base piles in. The practical consequence for you is that a fresh account often lands on a waitlist instead of getting instant access.

The invite code is the intended bypass. Every existing Perps account is issued a single code that doubles as both a referral code and an invite code. When a new user arrives through someone's code — either by typing it during sign-up or by opening a link in the https://polymarket.com/perps?c={code} format — the code is attached to the new account and the waitlist step is removed. After the account clears verification, Perps trading becomes available right away.

So when you use 01xce79e, you are not getting a secret discount or a hidden cash bonus; you are getting immediate access. That is genuinely the main benefit, and it is worth being honest about it: the referred trader does not receive a separate sign-up bonus under the program's rules. The person whose code you used may earn a share of your trading fees (more on that below), but that comes out of Polymarket's fee take, not your pocket, and it does not raise your costs.

Getting from zero to trading is short. The single most reliable method is the direct link, because it fills in the code for you and removes any chance of a typo.

First, open https://polymarket.com/perps?c=01xce79e in your browser. This carries the code 01xce79e into the sign-up flow automatically. If you would rather enter it manually, go to the Polymarket Perps sign-up and paste 01xce79e into the invite/referral code field before you finish creating the account. Enter it up front — remember that an account keeps the first code it is given and cannot switch to a different one later, so apply it during initial sign-up, not after.

Second, create or connect your account. Polymarket accounts are typically created with an email or by connecting a wallet, and the platform provisions an on-chain account for you. Follow the prompts and set up your login security carefully; this is a financial account, so use a strong, unique password and enable any available protections.

Third, complete verification. Depending on your region and Polymarket's current requirements, you may need to verify identity or acknowledge terms before trading unlocks. This is standard and is what "flips the switch" from waitlisted to active once the code has removed the queue.

Fourth, fund your account. Perps are collateralized in pUSD (Polymarket's dollar unit on Polygon), which shares a pool with your prediction-market balance. In practice that means bringing USDC/stablecoin funds onto the platform and having them available as pUSD collateral. Start with an amount you can afford to lose while you learn the interface.

Fifth, place your first trade — carefully. Choose a market (for example BTC), pick long or short, set your leverage (keep it low to start, and prefer isolated margin), and review the live liquidation price the interface shows before you confirm. Then manage the position: decide in advance where you will take profit or cut a loss.

That is the whole flow. The code's job is done the moment access is unlocked; everything after that is ordinary trading discipline.

The Perps referral program is straightforward and, importantly, is separate from Polymarket's older prediction-market referral program — different codes, tracked independently. Here is how the Perps side works once you have your own account and want to invite others.

Every Perps account gets one referral code, which is the same code that acts as an invite. You share it as a link in the https://polymarket.com/perps?c={yourcode} format. When someone opens that link, your code is automatically applied to their new account. You cannot apply your own code to yourself, and a code can only be applied once per account — the referred account keeps the first code it received.

For rewards, the referrer earns 20% of the trading fees paid by every Perps trader they refer, with no cap on how much a single referred trader can generate for you. Payouts are made weekly. The referred trader, as noted, does not get a separate bonus — their upside is skipping the waitlist and getting access. Standard codes work for up to about 15 sign-ups before they expire; larger campaigns that need more uses require approval from the Polymarket team. Your referrals dashboard shows sign-ups, the trading volume they generate, your earnings, and per-referral performance so you can see what is working.

The takeaway for most readers: you do not need to run a referral operation to benefit. Using 01xce79e as a new user is enough to get in. But if you end up liking Perps and want to earn on the side, your own code gives you a clean, uncapped way to do it, paid out every week.

One of the more compelling parts of Perps is the asset mix. At launch the focus was a small set of high-interest markets, each tradable with leverage: Bitcoin as the crypto anchor, Nvidia as a marquee equity, and gold as a commodity. The lineup has been expanding over time to include more crypto, additional equities, indices such as the S&P 500 and Nasdaq, and further commodities, plus the ability to trade around event-driven odds in perpetual form.

The 24/7 nature is what makes the equity and commodity perps unusual. A traditional stock like Nvidia only trades during market hours on a conventional exchange, but a Perp that tracks its price can be traded on Polymarket at any hour, including weekends and holidays. That opens up reactions to overnight news that stock traders normally cannot act on until the opening bell. It also means you should be aware that price can move — and you can be liquidated — at times when you might not be watching.

Because everything sits in one account with a shared collateral pool, some traders use Perps to hedge or complement prediction-market positions. That flexibility is powerful but is squarely an advanced use case; if you are just starting, keep positions simple and isolated.

Trading a perpetual has more moving cost parts than buying a prediction share, so it is worth understanding each one before you commit real size.

Collateral (pUSD). Perps are margined in pUSD, Polymarket's on-chain dollar unit on Polygon, which is designed to hold a stable one-dollar value and is shared with your prediction-market balance. You bring stablecoin funds onto the platform, and they back your positions. Because the collateral pool is shared, Polymarket and experienced users recommend using isolated margin rather than cross margin, so a losing perp cannot pull down collateral you intended for prediction markets.

Trading fees. There is a trading fee on perps, and it is the fee your referrer earns a 20% share of. At launch, the full public fee schedule (maker/taker tiers and related parameters) was still being finalized and was described as low; the practical advice is to check the current fee shown in the interface before trading, since a launch-era schedule can change.

Funding rate. This is the cost unique to perpetuals and the one beginners most often overlook. To keep the perp's price anchored to the underlying spot price, longs and shorts exchange a small "funding" payment roughly every 8 hours. Typical rates are a fraction of a percent per period — on the order of ±0.01% per 8 hours in calm conditions, which is roughly ±10% annualized — but they rise when the market is volatile or one-sided. The key insight is that funding compounds while you hold: a seemingly tiny rate of, say, 0.05% every 8 hours can add up to several percent per month in carry cost. Perps reward traders who are deliberate about how long they hold, not just which direction they pick.

Liquidation. Leverage cuts both ways. At around 10x leverage, roughly a 10% move against your position can trigger liquidation, which closes the position and can wipe out the margin you committed to it. The interface displays a live liquidation price before you confirm an order — treat that number as the single most important thing on the screen. Lower leverage moves the liquidation price further away and buys you room to be wrong temporarily.

Leverage is the reason perps are exciting and the reason they are dangerous. If you put up $100 of margin at 10x, you are controlling a $1,000 position; a 5% favorable move roughly doubles your margin, but a 10% adverse move can end the position entirely. That asymmetry — where being wrong by a modest percentage can cost you everything you committed — is why perps are not a place to "learn by doing" with money you need.

A few principles keep beginners out of the worst trouble. Start with low leverage; there is no rule that says you must use the maximum, and lower leverage dramatically reduces liquidation risk. Use isolated margin so one bad trade cannot drain your whole balance. Size positions so that a full loss on any single trade is an amount you can shrug off. Decide your exit — both the profit target and the stop — before you enter, not in the heat of a moving market. And factor funding into the plan: if you intend to hold for days, estimate the carry cost, because it quietly erodes returns.

Polymarket's own framing is that perps are for experienced users, and it is reasonable to build up to them — spend time with prediction markets, understand position sizing, and only then experiment with small leveraged trades. The invite code gets you access; it does not confer skill, and access without discipline is how accounts get liquidated.

Polymarket is a well-known, established prediction-market platform, and Perps is a first-party product built by the same team, settled on-chain on Polygon using its pUSD collateral. In that sense it is a real, legitimate product rather than a knockoff. The invite code 01xce79e is simply the standard access mechanism the platform itself uses; it is not a hack or a workaround of anything you are not supposed to do.

"Legitimate" is not the same as "low risk," though, and honesty matters here. Perps involve leverage, liquidation, and funding costs, any of which can lose you money quickly. Availability and eligibility also depend on your jurisdiction — prediction markets and leveraged crypto products are regulated differently around the world, and access to Polymarket and to Perps specifically may be restricted where you live. Before funding an account, confirm that the product is available to you and that you are comfortable with the rules that apply in your region. As a beta product, features, fees, and parameters can also change, so treat everything you set up as something to re-check periodically.

The sensible posture is the same as with any leveraged venue: verify eligibility, start small, use protective settings, and never trade with money you cannot afford to lose.

A handful of habits make the experience smoother and safer. Use the direct link with 01xce79e so the code applies cleanly and you skip the waitlist without a manual entry error. Enter the code at sign-up, since you cannot change it later. Fund with an amount sized for learning, not for a life-changing bet. Keep leverage low and margin isolated while you get familiar with the interface and the way liquidation prices move. Always read the live liquidation price before confirming, and set your profit and stop levels in advance. Account for the 8-hour funding rate if you plan to hold overnight or longer, because carry cost compounds. And if you decide to share your own code later, remember payouts are weekly and each standard code works for around 15 sign-ups before it needs renewal.

What is the Polymarket Perps invite code and referral code? They are the same code — 01xce79e. It works as an invite code (skipping the waitlist for new users) and as a referral code (earning the sharer a share of fees). Apply it during sign-up, or open https://polymarket.com/perps?c=01xce79e to apply it automatically. It removes the waitlist so you can trade after verification.

Is the invite code the same as the referral code on Polymarket Perps? Yes. Every Perps account gets one code that doubles as both an invite code and a referral code, so 01xce79e serves both purposes at once.

Does the invite code give me a bonus? No separate cash bonus goes to the new user. The code's value is skipping the waitlist and getting immediate access once verified. The person whose code you used may earn a share of trading fees, but that does not increase your costs.

How do I skip the Polymarket Perps waitlist? Sign up through a valid invite code such as 01xce79e (easiest via the direct link). The code attaches to your new account and bypasses the queue, and Perps unlocks after verification.

Where do I enter the code? Paste 01xce79e into the invite/referral field during sign-up, or just use the link that carries it for you. Enter it up front — an account keeps the first code it receives and cannot switch later.

Can I change my code after signing up? No. A referral code can be applied only once, and your account keeps the first code it was given. That is why you should apply 01xce79e at initial sign-up.

What is Polymarket Perps? It is Polymarket's perpetual-futures product: leveraged long or short positions on assets like crypto, equities, commodities, and indices, with no expiration, traded 24/7 from the same account as prediction markets.

How much leverage can I use? Around 10x at launch, with isolated margin recommended; the exact maximum can vary by asset and may change over time. Lower leverage is safer because it pushes your liquidation price further away.

What collateral does Perps use? pUSD, Polymarket's dollar unit on Polygon, which shares a pool with your prediction-market balance. You fund it with stablecoins. Use isolated margin so a perp loss can't drain your whole balance.

What are the fees? There is a trading fee (the amount referrers earn 20% of) plus the funding rate paid between longs and shorts roughly every 8 hours. The full fee schedule was still being finalized at launch, so check the current fee in the app before trading.

What is a funding rate? A small periodic payment exchanged between longs and shorts (about every 8 hours) that keeps the perp price near spot. It is usually a fraction of a percent but compounds the longer you hold, so it matters for multi-day positions.

How does the referral reward work? As a referrer you earn 20% of the trading fees paid by traders you refer, with no per-trader cap, paid weekly. Standard codes work for up to about 15 sign-ups. The Perps referral program is separate from the prediction-market referral program.

Which assets can I trade? Initially markets like Bitcoin, Nvidia, and gold, with the lineup expanding to more crypto, equities, indices, and commodities over time — all tradable 24/7.

Is Polymarket Perps available in my country? It depends on your jurisdiction, since leveraged and prediction products are regulated differently worldwide. Confirm eligibility for your region before funding an account.

Is it safe for beginners? Perps are an advanced product. Leverage, liquidation, and funding costs can lose money fast. Beginners should start with very small size, low leverage, and isolated margin — or build up experience on prediction markets first.

Polymarket Perps brings always-on, leveraged trading on crypto, stocks, commodities, and more into the same account you use for prediction markets — and because it launched as an invite-only beta, the practical first step is getting past the waitlist. The invite code 01xce79e does exactly that: apply it at sign-up (easiest via https://polymarket.com/perps?c=01xce79e), verify your account, and Perps unlocks. There is no separate cash bonus for the new user, so be clear-eyed that the code's real value is instant access.

From there, the outcome is up to you. Understand the collateral, respect the funding rate, keep leverage low and margin isolated, watch the liquidation price, and only trade money you can afford to lose. Do that, and the code gets you a clean start on a genuinely novel product — without standing in line.

This article is for general informational purposes only and is not financial or investment advice. Leveraged trading carries a high risk of loss, and product availability, fees, leverage, and terms can change and vary by jurisdiction. Always confirm current details on Polymarket and ensure the product is available to you before trading.