Perpetual Futures
Last updated October 15, 2025
Perpetual futures are derivatives contracts where traders can have a PnL matching that of a given token without actually buying that token. For example, a trader that holding a long position for a unit of ETH will have the same PnL that they would have if they actually held one unit of ETH: when the ETH price goes up from 3,000rUSD to 3,100rUSD they will earn 100rUSD; on the other hand, if the price goes down to 2,900rUSD, they will have to pay 100rUSD. These amounts are interchanges with accounts holding short positions, in other words, traders that earn when the price goes down and vice versa.
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