Pre-IPO perps let you go long or short on individual private companies like Anthropic ahead of their public listings, with leverage and no expiration date. Instead of buying shares, you take a directional position against a reference price drawn from the company's private valuation, and a funding rate periodically transfers payments between longs and shorts to keep the perp anchored to that price. Your position stays open as long as your margin holds, with no rolling contracts and no settlement date.
On Polymarket you can trade pre-IPO perps today, including ANT. Each card shows the live mark price and 24-hour change. Click Long to bet the price rises or Short to bet it falls, directly from the grid above.