Perpetual Futures vs Perpetual Futures Contract

Leveraged cryptocurrency derivative contracts with no expiration date, enabling traders to take long or short positions with up to 100x leverage, settling continuously through funding rates that keep contract prices aligned with spot market values.

A derivative instrument that functions like a futures contract but has no expiry date; price is kept anchored to the underlying spot asset through a periodic funding rate payment mechanism rather than through expiry-date convergence.