MetaMask Prepares In-Wallet “Perpetuals Trading,” Poised to Evolve into a Full Trading Terminal

MetaMask is preparing to add “Perpetuals Trading” directly inside its wallet—an upgrade that would move the app beyond storage and swaps toward a true, trader-first terminal. If implemented, users could open, manage, and close perpetual futures positions without leaving the wallet interface, unifying execution, portfolio, and risk views in one place.
Why it matters: derivatives are where much of crypto’s liquidity and price discovery happen. Bringing perps in-wallet streamlines the trader journey by removing tab-hopping between exchanges, aggregators, and portfolio tools. It also sets the stage for richer order types, better capital efficiency, and tighter integration with on-chain analytics and automation.
What to expect: a non-custodial workflow that keeps keys with users while connecting to on-chain derivatives venues. Anticipate wallet-native deposit/withdraw flows for margin, funding-rate and liquidation telemetry, and standard features such as isolated/cross margin, stop/limit orders, and PnL tracking. Region-based access controls and clear risk disclosures are likely, given derivatives regulations across markets.
Who benefits: active traders get lower friction and faster decision loops; DeFi power users gain a single surface for spot, swaps, bridging, and perps. Newer users may also benefit from guided execution and simplified margin management—though the usual caveats apply: leverage amplifies risk, funding rates fluctuate, and liquidations can be rapid in volatile markets.
The big picture: wallets are evolving into “super terminals” that consolidate identity, assets, and execution. By layering perpetuals into the interface, MetaMask signals a product arc from passive key-manager to active trading hub. The outcome could reshape how liquidity routes on-chain—shifting more volume into wallet-centric front ends and accelerating the convergence of custody, analytics, and execution inside a single, non-custodial app.