Perpetual Futures Markets

Crypto markets follow the prices of digital tokens, while the TradFi market follows Brent crude oil. Both are perpetual futures contracts settled in USDT, with the same margin, fee and order rules.

With cross margin, your whole perpetual balance backs every open position rather than each position having its own separate margin. Gains in one position can support another, but a loss in one market also reduces the margin available to all the others.

The mark price is the price open positions are valued at. Unrealized profit and loss, and so how close an account is to liquidation, are measured against it. Orders priced more than 20% away from the mark price are rejected.

No. Each market has its own maximum leverage, shown on that market's page. Higher leverage means a smaller price move against you is enough to use up your margin.

If your perpetual balance falls below the maintenance margin required for your open positions, they are liquidated, which means closed automatically. Because margin is shared, liquidation depends on the balance and the combined profit and loss of all your positions, not on one position alone.

No. There is no KYC and no sign-up form. You connect a wallet and sign a message to log in — self-custody wallet sign-in, with no password — then deposit USDT to start trading.

A perpetual future is a contract that tracks the price of an asset and never expires. You can go long, profiting if the price rises, or short, profiting if it falls, without owning the asset itself.

There are 75 perpetual futures markets, across crypto, gold and oil, all settled in USDT with cross margin.

No. A perpetual has no expiry date, so you can hold a position for as long as your margin covers it.

Maker orders pay 0.02% and taker orders 0.06% of the order value, on every market.

Yes. Every market is open 24/7, including gold and oil.