Learn / Perpetual Futures
What is Perpetual Futures in crypto?
A futures contract with no expiry date, kept near spot by the funding rate.
Definition
A perpetual future (or "perp") is a derivative that tracks the price of an asset but never expires. It is the most traded instrument in crypto.
How it works
Because it never settles, a mechanism is needed to keep its price near spot — that is the funding rate. Perps let traders go long or short with leverage and hold the position for as long as their margin allows. Almost all crypto leverage trading happens on perps.
Track perpetual futures on TRIXO
TRIXO covers perpetual markets on Binance, Bybit and MEXC, with live charts, order book, funding and open interest for each contract.