Derivatives · Glossary
Perpetual futures
A futures-style derivative with no fixed expiry date.
Definition and explanation
A perpetual futures contract tracks a reference asset without a conventional expiration date. Many venues use funding payments to help keep its price aligned with the underlying spot market. Perpetual contracts are derivatives and can involve leverage, funding costs, liquidation and venue-specific settlement rules.
Example
A BTCUSDT perpetual contract allows exposure to BTC price movements without the contract expiring on a set calendar date.
Educational information only. Trading terms and contract mechanics can vary by venue and market. Verify the rules of the provider you use.