Can I trade perps inside MetaMask?

Yes. MetaMask Perps launched in October 2025, powered by Hyperliquid, with 150+ markets. Based connects you to the same Hyperliquid order book, but wraps it in a trading-first app with stock perps, prediction markets, a card and research built in.

Is Based built on the same markets as MetaMask Perps?

Yes. Both route to Hyperliquid, so the markets and liquidity are shared. The difference is what surrounds the trade: MetaMask is a general EVM wallet, while Based is purpose-built around Hyperliquid trading.

Which is better for stock perps, Based or MetaMask?

Based. Stock perps are core to the product: MU, SK Hynix, Samsung, SpaceX, CXMT and Unitree, plus commodities, indices and FX, all quoted in USD and open 24/7. MetaMask carries some equity perps, but its perps lineup skews to crypto. Either way these are perpetual futures, not shares, with liquidation risk and funding fees.

Do I give up custody with either one?

No. Both are self-custodial. Your keys stay with you and collateral sits on Hyperliquid under your own address.

Comparison

Based vs MetaMask

MetaMask is the original Ethereum wallet, a self-custody browser extension and mobile app built around EVM networks.Based is a self-custody wallet for trading Hyperliquid's 24/7 markets. Different tools built on different assumptions. Here is how they actually compare, without trash talk.

Side by side

Feature	Based	MetaMask
What it is	A self-custody wallet for trading on Hyperliquid, a decentralised platform. Not a broker.	A self-custody wallet built by Consensys, released in 2016 as a browser extension for Ethereum.
Chain focus	Purpose-built around Hyperliquid trading, with coin swaps on Solana, BSC and Robinhood Chain.	Ethereum and EVM networks first. Solana and Bitcoin support came later.
Custody	Self-custodial. Assets stay in a wallet you control; Based never holds them.	Self-custodial. Keys stay with you, and perp positions sit on Hyperliquid under your own address.
Perp markets	Perpetual futures on Hyperliquid tracking US and Asian stocks, plus crypto perps and prediction markets. Derivatives with liquidation risk and funding fees, not share ownership.	MetaMask Perps, powered by Hyperliquid, launched in October 2025 with 150+ markets, weighted toward crypto.
Stock perps	Yes. Stock perps on Hyperliquid covering names like MU, SK Hynix, Samsung, SpaceX, CXMT and Unitree, alongside commodities, indices and FX.	A selection of equity perps sits alongside the crypto markets, but stocks are not the focus.
Around trading	Based Cash, a Visa card for spending crypto balances, plus rewards on USD balances, Based AI research, and coin swaps on Solana, BSC and Robinhood Chain.	Swaps across EVM chains, the mUSD stablecoin, a Mastercard card and a rewards program. Trading is one part of a broad EVM toolkit.
Fees	No commissions. All-in from 0.011% taker and 0.005% maker on stock perps, discounts for staking.	Perp trades pay the Hyperliquid trading fee plus a MetaMask fee, and swaps carry a published service fee. Check the app for current rates.

Who Based suits

Based suits people who want a consumer trading app, not wallet infrastructure. You get the full Hyperliquid range on iOS, Android and web, including stock perps on names like MU, SK Hynix and Samsung, plus the unified layer around trading: the Based Cash card, rewards on USD balances and AI research.

Who MetaMask suits

MetaMask suits EVM power users who live inside DeFi. It connects to nearly every dApp on every EVM chain, and its perps feature is a solid add-on if you already keep your onchain life there. For broad dApp access, it remains the default.

Want the mechanics behind the differences? How trading without a broker works and market hours vs 24/7 trading cover them in plain terms. Or jump straight to a market: NVDA, TSLA or the full markets list.

Frequently asked questions

Can I trade perps inside MetaMask?: Yes. MetaMask Perps launched in October 2025, powered by Hyperliquid, with 150+ markets. Based connects you to the same Hyperliquid order book, but wraps it in a trading-first app with stock perps, prediction markets, a card and research built in.
Is Based built on the same markets as MetaMask Perps?: Yes. Both route to Hyperliquid, so the markets and liquidity are shared. The difference is what surrounds the trade: MetaMask is a general EVM wallet, while Based is purpose-built around Hyperliquid trading.
Which is better for stock perps, Based or MetaMask?: Based. Stock perps are core to the product: MU, SK Hynix, Samsung, SpaceX, CXMT and Unitree, plus commodities, indices and FX, all quoted in USD and open 24/7. MetaMask carries some equity perps, but its perps lineup skews to crypto. Either way these are perpetual futures, not shares, with liquidation risk and funding fees.
Do I give up custody with either one?: No. Both are self-custodial. Your keys stay with you and collateral sits on Hyperliquid under your own address.

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.

Open Based How self-custody works

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.