Perps (Perpetual Futures)

Perpetual futures generate over $14 trillion in annual offshore volume, making them the dominant crypto derivatives instrument. Unlike traditional futures with fixed expiry, perps use periodic funding rate payments between longs and shorts to keep the contract price anchored to spot. Hyperliquid’s on-chain CLOB processes billions in perps volume including oil and gold contracts. The CFTC is establishing a US regulatory framework that could bring perps onshore.

Canonical site: StablePerps.com

Cross-references: StableCLOB.com, StableEquities.com