English
RussianWhat Are Perpetual Futures?
A perpetual future is a contract on an asset's price with no expiry date; funding keeps its price close to spot.
A regular future settles on a set date, a perpetual can be held indefinitely. These contracts drive most of the volume on Binance, Bybit, OKX and Hyperliquid.
To keep the contract near spot, one side pays the other every few hours — that is funding. When the future trades above spot, longs pay shorts.
Perpetuals now exist on traditional assets too: crypto exchanges list them on stocks and gold.
See it on In-Crypto
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Frequently asked questions
How is a perpetual different from a regular future?
It has no settlement date; funding, not expiry, keeps it in line with spot.
Who pays funding?
With a positive rate longs pay shorts, with a negative rate the other way round.