Futures vs. perpetuals: expiry, funding, and margin
Compare how dated futures and perpetual contracts maintain exposure, transfer cash, and close positions.
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Trading mechanics
derivatives
marketplace.
A displayed price is not a completed trade.
Trading derivatives requires understanding how an order becomes an execution and how the resulting position is maintained. Fees, spreads, depth, order conditions, collateral, and exit rules matter alongside any market view. This site explains those mechanics; it does not accept or route orders.
Three things to understand
Read these before the price.
01
Execution assumptions
Market and limit orders involve different tradeoffs.
02
Full lifecycle cost
Include entry, holding, and exit components.
03
Records and controls
Separate realized results, fees, and collateral transfers.
A practical comparison
Start with a defined research objective rather than a venue ranking. Compare equal exposure over a similar holding period, and label unavailable information as unknown. A precise loss scenario and documented exit path are more useful than an optimistic target without operating assumptions.
Use the learning center to clarify unfamiliar terms and the source library to continue with official documentation. This page explains mechanics, not a current product ranking or trading recommendation.
Hypothetical teaching example
Make the exposure visible.
A paper comparison can assign the same hypothetical price movement to two contracts, then add their different fees, spreads, funding, and roll assumptions to see why the outcomes differ.
Examples are simplified and exclude fees unless stated. Actual payoff formulas, margin rules, and eligibility vary. Read risk information.
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Futures vs. perpetuals explained.
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