Glossary
Perpetual futures
Also called: perp,perps
A derivative tracking an asset's price with no expiry date, kept close to spot by a periodic payment between longs and shorts called funding.
See also
Funding rateA recurring payment between holders of long and short perpetual positions that pulls the contract price toward spot. When it is positive, longs pay shorts.
LeverageBorrowing to hold a position larger than your capital. It multiplies gains and losses by the same factor, and shortens the distance between you and a liquidation.
LiquidationThe forced closing of a leveraged position when margin falls below the required level. It happens automatically, at the platform's discretion, and you do not get to wait for a recovery.
Last checked 19 Oct 2026.