Unpacking Perpetual Swaps: The Crypto Trading Instrument Everyone's Talking About
Perpetual swaps, or 'perps', have revolutionized the crypto market, offering a unique trading instrument that provides leveraged exposure to asset prices without the need for ownership. With no expiry date, these contracts have solved the issues associated with traditional futures contracts. The mechanism, developed by Ben Delo, involves a funding rate that ensures the contract price remains alig…