Functor · The exchange engineered by quants

Markets

Perpetuals and options on major assets

Perpetuals go live on the Functor testnet. The options pricer is available today.

BTC

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ETH

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SOL

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XRP

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BNB

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DOGE

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Reference prices from Binance, updated —. Functor does not offer trading yet.

Products

Trade, price and earn from one account

In development

Perpetuals

An onchain order book with cross margin and hourly funding. Placing and cancelling orders costs no gas.

Learn more Pricer available

Options

Calls, puts and spreads on any asset. Pricing is based on the founder's research at the University of Oxford and models jump risk directly. Positions are fully collateralized.

Price an option Planned

Vaults

Deposit USDC into vaults that provide liquidity and earn trading fees, or into vaults run by individual traders.

Learn more Released

Quantum Core

A local C++ scanner that inventories the cryptography a codebase uses and grades its post-quantum migration exposure.

Open Quantum Core

Vision

Functor's vision is a fair and transparent market for everyone who trades onchain.

01

Every new market opens with a single-price auction. No one can buy before anyone else, and faster bots gain no advantage.

02

Options pricing is based on active research at the University of Oxford's Department of Computer Science into compositional, category-theoretic derivatives pricing.

03

Margin, funding and liquidations follow published rules. The chain's accounting uses exact integer arithmetic.

04

Functor has no private investors. The founder's tokens are locked for one year and vest over the following three. Protocol fees are used to buy back FCTR.

Security

A deterministic core

The Functor core is a state machine written in Rust. Every validator computes identical results from the same blocks.

Tech

Total balances always equal deposits minus withdrawals.
A rejected transaction leaves the state unchanged.
Each module is tested with deliberately introduced faults before release.
The launch auction is verified against an independent reference implementation.

Development

Follow development

Roadmap

Target dates for each stage through mainnet and token genesis.

View roadmap

Deck

An overview of Functor for investors and partners.

Open deck

About

Functor is led by a quant researcher and engineer with degrees from Oxford and London Business School.

Part of the fees pays for students

A defined share of Functor's trading fees is planned to fund scholarships in mathematics, computer science, physics, statistics and engineering at leading universities.

The money goes to partner universities, which award the places themselves. The charter, the onchain address and an annual report are published.

Functor Foundation

FAQ

What is Functor?

Functor is a layer-1 blockchain for trading perpetual futures and options, with vaults for liquidity providers. FCTR is the native token of the Functor blockchain.

Can I trade on Functor today?

No. The core of the blockchain is built and tested, and the public testnet is targeted for Q1 2027. The options pricer is available on this site today.

What makes Functor different?

New markets open with a single-price auction instead of a race. Options are priced with models based on the founder's Oxford research. Risk rules are published, and the accounting uses exact arithmetic.

What is the FCTR token?

FCTR is the native token of the Functor blockchain, with a fixed maximum supply of 50 million. It will be used for staking and fees. Protocol fees are used to buy back FCTR. It is not trading yet.

Can I buy FCTR?

No. Nothing is for sale. Any future token sale will require a published MiCA white paper, as EU law requires.

Where will Functor be available?

Leveraged products will not be offered in jurisdictions where they are not permitted. Regional restrictions will be set before mainnet.

Join the community

Testnet access and development updates are announced on Telegram first.

Telegram Launch app

Functor will never message you first or ask for your private keys.