Trade the Nikkei 225 (JP225) perp 24/7, permissionless
Japan's headline equity index, price-weighted like the Dow. The perp follows the yen-denominated level and settles in USDC. You cannot buy an index itself, only something that tracks it. The JP225 perp on Based does that around the clock, long or short, from a self-custody wallet.
Nikkei 225 (JP225)
$65,874+0.0%24h
JPX (Osaka) · Japan · quoted in USD
JP225 trading hours on Based vs the futures market
Index futures trade nearly around the clock on weekdays, but they take a break every evening and shut down from Friday evening to Sunday evening, plus exchange holidays. The JP225 perp on Based runs 24/7: no daily break, no weekend close, no holiday calendar.
The trade-off is the instrument. It is a perpetual future tracking the Nikkei 225 level, not the index itself or its stocks. Positions carry liquidation risk, and funding fees apply while they are open.
How trading JP225 works here
The JP225 market lives on Hyperliquid, a decentralised platform, as a perpetual future that tracks the Nikkei 225 level. Based is the self-custody wallet you trade it from, not a broker. You get exposure to the index level, long or short, with leverage available. You do not own the component stocks, so there are no dividends and no voting rights. Like every perp, positions carry liquidation risk, and funding fees apply while they are open.
Getting in takes a self-custodial wallet and USDC. No brokerage account, no bank account, no application.
Fees are flat and public: TradFi perps start at 0.011% taker and 0.005% maker, all-in, before any staking discounts. The full schedule is on the fees page.
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Frequently asked questions
- Can I trade the Nikkei 225 on weekends?
- Yes. Index futures close every weekday evening and stay shut from Friday evening to Sunday evening, plus exchange holidays. The JP225 perp on Based tracks the index level 24/7, weekends and holidays included.
- Do I need a broker or futures account to trade JP225?
- No. Based is not a broker. It is a self-custody wallet that connects you to Hyperliquid, the decentralised platform where the JP225 market runs. No futures account, no brokerage account and no bank account.
- Do I own the stocks in the Nikkei 225 when I trade JP225?
- No. What you trade through Based is a perpetual future on Hyperliquid tracking the index level: a derivative. You get exposure to the level, long or short, but no shares, no dividends and no voting rights. Positions carry liquidation risk, and funding fees apply while they are open.
- What do I need to start trading JP225?
- A self-custodial wallet and USDC to fund it. Connect the wallet, deposit, and trade. Setup usually takes a few minutes and does not involve an account application.
Start in three steps
- Step 1
Connect a wallet
Any self-custodial wallet works. No account application, no paperwork.
- Step 2
Fund it
Deposit USDC. You do not need a bank account to do it.
- Step 3
Trade 24/7
Stock perps, crypto perps and prediction markets. Nights, weekends, holidays.
Based is a self-custody wallet, not a broker. Markets are perpetual futures on Hyperliquid: derivatives with liquidation risk and funding fees, not the underlying stocks or coins.