Perp Overview

A perpetual derivative contract (or "perp") is a derivative product that allows traders to speculate on an asset's price. Unlike traditional futures, which settle on a fixed date, positions can be held indefinitely. Perps rely on a funding rate mechanism to keep the contract price aligned with the underlying spot price.

Max leverage varies by asset, ranging from 3x to 40x. Maintenance margin is half of the initial margin at max leverage. E.g., if max leverage is 20x, the maintenance margin is 2.5%.

For more information about the stock, FX, and commodities perp products that are offered on Trasia, please refer to this external page, in which you'll find detailed information about oracle price, mark price, external price, and discovery bounds.

For more information about the crypto perp products that are offered on Trasia, please refer to this external page.

You can also refer to details of margining, portfolio margin, liquidation and funding in the corresponding links.