What is a Perpetual Contract?
Updated
Perpetual contract is a futures contract with no date of expiration. However, there is a funding rate applied every 8 hours to keep futures price pegged to spot markets; either longs pay shorts or shorts pay long depending on the gap between spot and futures. Perpetual contracts are marked according to the Last Price Marking method. The Last Price determines Unrealised P&L and liquidation prices.
