Perpetual Futures

The perpetual future provides indefinite, leveraged delta exposure to a specific asset.

Perpetual Futures on Everstrike

Everstrike offers linear perpetual futures.

The futures are cash-settled, and have no expiration date. The settlement currency is always in USD.

The futures are priced and margined in USD.

The futures are subject to funding. At the start of every hour, a Funding Payment is exchanged between longs and shorts. The Funding Payment is determined by the Funding Rate (Funding Payment = Funding Rate * Position Size). If the Funding Rate is positive, longs pay shorts. If the Funding Rate is negative, shorts pay longs.

Example 1

The trader buys a BTC perpetual futures contract for $23,000.

One week later, the price of the contract is $24,000. The trader has paid a total of $100 in funding. The total profit of the trader, should he decide to sell his futures contract, is the current price of the contract, minus his initial purchase price, minus any funding that he has paid so far ($24,000 - $23,000 - $100 = $900). If he does decide to sell his futures contract, this amount will be automatically credited to his balance.

Example 2

The trader buys a BTC perpetual futures contract for $23,000.

One week later, the price of the contract is $22,800. The trader has received a total of $500 in funding. The total profit of the trader, should he decide to sell his futures contract, is the current price of the contract, minus his initial purchase price, minus any funding that he has paid so far ($22,800 - $23,000 + $500 = $300).

Example 3

The trader sells a BTC perpetual futures contract for $23,000.

One week later, the price of the contract is $24,000. The trader has received a total of $300 in funding. The total profit of the trader, should he decide to sell his futures contract, is his initial purchase price, minus the price of the contract, minus any funding that he has paid so far ($23,000 - $24,000 + $300 = -$700).

Example 4

The trader sells a BTC perpetual futures contract for $23,000.

One week later, the price of the contract is $22,000. The trader has paid a total of $200 in funding. The total profit of the trader, should he decide to sell his futures contract, is his initial purchase price, minus the price of the contract, minus any funding that he has paid so far ($23,000 - $22,000 - $200 = $800).