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Perpetual Futures

Derivative contracts with no expiry for leveraged trading exposure on crypto and traditional assets.

Market Size

$50B+ daily volume

Key Issuers

4

## What are Perpetual Futures?

Perpetual futures (perps) are derivative contracts that allow traders to speculate on asset prices with leverage, without expiry dates. They're the most traded instrument in crypto.

Key Features

  • **No Expiry**: Hold positions indefinitely
  • **Leverage**: Up to 100x on some platforms
  • **Funding Rates**: Periodic payments between longs/shorts
  • **Oracle Pricing**: Track spot prices via funding mechanism

    • Trading Venues

    Order Book DEXs

  • **Hyperliquid**: High performance, own L1
  • **dYdX**: Cosmos-based, institutional grade
  • **Vertex**: Hybrid AMM/order book

    • AMM-Based

  • **GMX**: Zero slippage, GLP model
  • **Synthetix**: Powers multiple front-ends
  • **Gains Network**: Capital efficient

    • Asset Coverage

  • **Crypto**: BTC, ETH, major alts
  • **Forex**: Major currency pairs (Ostium)
  • **Commodities**: Gold, silver exposure
  • **Stocks**: Some platforms offer equity perps

    • Integration Use Cases

  • **Hedging**: Hedge spot exposure
  • **Speculation**: Leveraged directional bets
  • **Arbitrage**: Funding rate strategies
  • **Market Making**: Liquidity provision

    • How to Offer via Fensory Connect

    Access perpetual futures across multiple platforms through Fensory Connect for trading and hedging functionality.

    Key Issuers

    IssuerProduct
    HyperliquidOrder Book Perps
    GMXZero Slippage Perps
    dYdXOrder Book Perps
    SynthetixPerps V3

    Frequently Asked Questions

    What are perpetual futures?

    Perpetual futures are derivative contracts that track asset prices without expiration, allowing leveraged trading with funding rate mechanisms.

    What is the funding rate?

    Funding rates are periodic payments between long and short positions that keep perp prices aligned with spot prices.

    Use Cases

    • Leveraged trading
    • Hedging
    • Market making

    Integration Requirements

    • Trading API integration
    • Risk management systems
    • Position monitoring

    Regulatory Notes

    • Derivatives regulations vary
    • US restrictions on many platforms
    • Leverage limits in some jurisdictions

    Access via Fensory Connect

    Integrate perpetual futures through a single API.

    SCHEDULE A CALL

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