Futures#

Perpetual contracts, leverage, margin, funding, liquidation, and risk management.

Articles in This Section#

• What Is a Perpetual Futures Contract? — Contracts with no expiration date: how they work and how they differ from spot trading.
• Leverage — How leverage, initial and maintenance margin, and Margin Ratio work.
• Margin and PnL — Isolated and cross margin and how position profit and loss are calculated.
• Futures Order Types — When to use Market, Limit, Take Profit, and Stop Loss orders.
• Funding Rate — A periodic payment between longs and shorts: why it exists and how much it costs.
• Liquidation and Auto-Deleveraging (ADL) — Why positions are forcibly closed and how to avoid it.
• Risk Tiers — How position size limits leverage and determines margin requirements.