Arcus Invite Codes and the Perps Waitlist: How to Get Perps Access (2026)

Arcus has three systems that look alike and do different jobs: referral links, invite codes and the waitlist. Since 2026-10-01, when Arcus switched perps access to invite codes, the confusion has only grown. Posts on X share referral links as if they were invites, and replies fill up with people asking to be "added." This page sorts it out using Arcus's own posts and API reference.

Referral link vs invite code vs waitlist

Sources: Arcus's posts on invite codes, the waitlist and the referral program, plus the API reference for redeeming an invite code.

How invite codes are earned

Arcus's announcement is direct about it: "Invite codes are earned, not handed out. Every $1M in qualifying perpetuals trading volume on Arcus earns you an invite code. Qualifying volume is your own trading volume plus the volume of traders you directly referred."

Its worked example: trade $1M yourself, have a referral trade $1M, and you hold two codes. There is no cap. Arcus adds that "the volume threshold may adjust over time as access expands," with any change applying going forward, not retroactively.

Codes appear on the Rewards page under the Referrals tab. Two prerequisites trip people up. You must have enabled trading (the one-time signature on the perps screen), and the app requires you to create your own referral code before you can share invite codes. The API reference also says a code only redeems if its owner currently holds a referral code.

The rules, in Arcus's words

From the "Things to Know" section of the announcement:

• "Codes don't expire: Share them whenever you find a trader worth inviting."
• "Codes can't be transferred, sold, or reassigned: An invite is a signal that you vouch for someone. Arcus does not recognise secondary sales."
• "A redeemed code is used: Even if the person never trades. Choose who you invite wisely."
• "Sent a code to the wrong person? If they use it, you'll need to earn a new one. Codes can't be revoked."

How to redeem an invite code

If someone has given you a code:

1. Check that you're in an eligible region. A code doesn't override Arcus's restrictions on the United States, Canada, the United Kingdom and sanctioned regions.
2. Open Arcus and sign in with the wallet you plan to trade from.
3. Go to Perps, click I have an Invite Code on the gate, and paste it.
4. Deposit USDG and start trading. Our deposit guide covers the routes.

Per the API reference, access is "effective within the grant propagation interval, typically under 30 seconds." A few rules sit behind that:

• No self-redemption. You can't redeem a code you earned yourself.
• The volume gate applies. Redeeming also registers you as a referral, and that registration only works while your rolling 30-day volume is below Arcus's cutoff.
• Wrong guesses get you locked out briefly. Codes are short, so the endpoint rate-limits attempts with codes that don't exist. Type carefully, and if you see a "try later" error, wait.
• The code is spent on success. If two people race to use the same code, one wins and the other gets an error.

Invite code not working?

Run through these before asking for another code:

• It was already used. Codes are single-use, and a code that someone posted publicly is usually gone within minutes.
• You can already trade perps. If your wallet already has access and a referrer, the API rejects the redemption, and the code isn't spent. Hand it back to its owner for someone who needs it.
• Its owner has no referral code. The owner must currently hold one for the invite to redeem. Ask them to create it under Rewards, Referrals.
• Your volume is over the cutoff. Redemption includes a referral registration, so the same rolling 30-day volume gate applies.
• You're on the wrong wallet. Access attaches to the address that redeemed. Switch back to it.
• You hit the guessing limit. After several codes that don't exist, the app makes you wait before trying again. Copy and paste instead of typing.
• You're in a restricted region. No code changes that.

Giving out your own invite codes

Once you've traded $1M of qualifying perps volume, codes start appearing under Rewards. A few things to know before you share them. Each one is spent the moment someone redeems it, even if they never place a trade. Whoever redeems it becomes your referral, so their perps fees earn you the referral commission and their volume counts toward your next code. Sending one to someone in a restricted country wastes it, because the code can't override Arcus's region rules. And since codes can't be revoked, a code sent to the wrong DM is lost. Give them to traders you know will use them.

What redeeming does to your referral

This part matters if you already joined Arcus under someone's referral link, including ours. Every invite code doubles as a referral. When a new trader redeems your code, they become your referral.

Arcus's two official sources describe the already-referred case differently:

• The blog post says: "if a trader was already referred by someone else before using your code, the original referrer keeps the referral. Your code still grants them access."
• The API reference, which is more detailed, says that when the invite code "is what grants them access," the referral moves to the code's owner. It calls this forward-only: "the previous affiliate keeps commission already earned and stops accruing from the next fill onward." If you can already trade perps and already have a referrer, the redemption is rejected and the code isn't spent.

In plain terms, under the API rules: if you joined through ARCUSGUIDE and later use a friend's invite code to open perps, your referral passes to that friend from then on. It's a one-time move, because access is granted only once. We'd still rather you get perps access than not, so use the code.

How the waitlist works

The waitlist predates invite codes and is still live. Per Arcus's waitlist post and Help Center, joining takes a minute:

1. Go to waitlist.arcus.xyz.
2. Connect your X account and follow @arcus_xyz.
3. Connect a wallet, or create one with an email.
4. Watch your number, then connect more wallets to climb.

What ranks you. Three things, per the Help Center's ranking page and a 2026-07-23 update:

• Prior perps volume on dYdX v3 and v4, Hyperliquid and Lighter, with real-world-asset volume counting as a bonus. Linking several wallets aggregates them. (For background on the dYdX side, see how Arcus and dYdX are connected.)
• Your Arcus spot volume, counted retroactively from launch.
• Referrals of other validated traders.

Arcus names only those venues. One trader complained on X that their volume on Variational and GRVT wasn't counted, so don't expect history from other perp exchanges to help.

When your cohort is called. You get a DM on X with instructions, and the waitlist site changes to "You're in, use the wallet you signed up with." Use that exact wallet: perps access is tied to the address. Back in the app, the gate's third option, I am whitelisted already, skip to sign in, is the button for you. If you sign in with a different wallet, the app shows errors such as "This wallet address is not on the whitelist." The Help Center gives you a week: "If you don't sign up within a week of being notified, we may give your slot to another trader and move you down the queue."

What changed on 2026-10-01. Arcus's points post says: "Arcus is moving to invite-only access: anyone with an invite code can sign up and begin trading right away." The same post says the manual whitelist is over. Existing traders keep their access. The waitlist site and the gate's Join Waitlist button were both still live on 2026-10-02, but Arcus hasn't said how fast it will call any remaining cohorts. If you know someone already trading, an invite code is the faster door.

The Help Center page that says there are no invite codes

Search for this and you may land on the Help Center's "How do I get an invite code?" page, which on 2026-10-02 still read: "There's no invite-code system." That answer dates from the launch period. The 2026-10-01 announcement replaces it, and the app's gate now has an I have an Invite Code button. Treat the old page as stale.

Scams around invite codes

Perps access is scarce, and the scams around it follow a few patterns:

• People selling codes. Arcus says it does not recognize secondary sales, and codes can't be transferred. A seller can take your money and hand you a used or fake code, and you have no recourse.
• "Support" or "team" DMs. The only DM Arcus describes is the cohort notice on X. Nobody legitimate will ask for your seed phrase, a private key or a signature on a site you didn't navigate to yourself.
• Fake waitlist sites. MetaMask's phishing blocklist includes lookalikes such as waitlist-arcus.xyz, join.perps-arcus.xyz and app-arcus.xyz. The real waitlist is waitlist.arcus.xyz, and the real app is app.arcus.xyz.
• "Invite code" links that are really referral links. Not a scam in itself, but a referral link won't open perps however it's labeled.

Our Arcus scams and fake sites guide keeps a longer list. And since access is the hook, remember that Arcus has no token: any "ARCUS airdrop" claim page is fake (what's confirmed about points and airdrops).

While you wait: spot is open now

You don't need perps access to start. In eligible regions, Stock Token spot trading works the moment you sign in, with no code and no queue. Your Arcus spot volume also counts toward your waitlist position. Join Arcus with code ARCUSGUIDE to bind the referral and the 5% fee discount Arcus shows, then follow our beginner's guide through your first spot trade. More on what the code does is on the ARCUSGUIDE referral code page.