Perpetual futures
A futures contract with no expiry date. You hold a bet on the price, long or short, as long as you like; a regular funding payment keeps its price close to the coin's.
Why it matters
On Binance the BTC perpetual trades many times more bitcoin than the spot market. Unlike buying the coin, a position can be short, can use leverage — and can be liquidated.
Education only, not financial advice · All terms