Futures and Perps market

Future is a type of derivative financial product that allows traders to speculate on the price of a cryptocurrency at a future date. The future date is called the Expiration date. It is a popular product because it allows capital efficiency tools, such as leverage and hedging. The contracts comes in two type of Settlements:

• Cash settlement: The contract is settled in cash, meaning no actual cryptocurrency is exchanged, only the difference between the contract price and the market price.
• Physical settlement: The underlying cryptocurrency is exchanged at the settlement date.

Perps are financial product which relies on rolling futures expiring at a pre-determined period. It is a very popular product, because it has some interesting properties:

• it enable leverage and hedging like a future contracts
• it does not deviate too far from spot price. Every 1h/6h/24h
• the contract does not expire until you close it or certains terms terminate it, such as liquidation.
• it is a very liquid product, with lot’s of arbitrage opportunities with the underlying.

• Trade Data
• Order Book Data
• Liquidations
• Future Expiry

• Funding Rate (FR)
• Open Interest (OI)
• Index Price
• Mark Price
• Contract Size