Crypto trading · Rookie
Perpetual futures
Also searched as: perps, perpetual swap
What does Perpetual futures mean?
Perpetual futures are derivatives designed to provide continuing exposure without a scheduled contract expiration. Crypto perpetuals commonly use funding payments to help align their price with a reference market.
Example
A trader holds a Bitcoin perpetual across several funding intervals without rolling into a new monthly contract.
Illustrative example; not a provider’s quoted offer.Why it matters for prop traders
No scheduled expiry does not remove liquidation, delisting or prop-account deadlines. Confirm the exact instrument and its funding mechanism.
Sources and further reading
The following primary sources support the terminology. Provider rules describe their own products and may change.