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Perpetual Futures

A perpetual contract is a specific type of futures contract with no expiration date. A futures contract is an agreement between a buyer and seller to transact an underlying asset or index at a specified time and price. Futures are exchange-traded, meaning if you hold a futures contract, your counterparty is the exchange, not another individual trader.
With a perpetual futures contract, on the other hand, you can own it indefinitely to have exposure to an underlying asset or index.