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Dated futures basis and settlement
A dated futures contract has an expiry and a settlement rule. Its price can differ from spot without creating a free profit.
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Crypto Trading Guide
Learn how crypto markets work, plan spot trades and analyse futures, perpetuals and decentralised markets. Follow eight stages from foundational concepts to advanced research and risk management.
Start with How crypto markets work, then follow the next lesson links. Explore 32 lessons with worked examples, exercises and further reading.
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Futures and Perpetuals · All lessons
Futures and Perpetuals
Understand contract exposure, funding, margin and liquidation before using derivatives.
Advanced
Perpetual futures and funding payments
Perpetual contracts use funding to help connect their price with a reference market. Learn how the payment affects a position over time.
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Margin leverage and liquidation explained
Leverage changes the relationship between collateral and exposure. Liquidation depends on maintenance rules, equity and the price reference used by the venue.
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Linear inverse and collateral currency risk
The same market move can produce different settlement amounts across contract designs. Read the multiplier, profit currency and collateral rules together.
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