All termsPerpetual Futures FundamentalsStart here
Derivative
A derivative is a financial contract whose value is linked to, or derived from, another asset, price, rate or financial reference. Futures, perpetual futures and options are all examples of derivatives.
Why it matters to you
When you trade a BTC perpetual future, you are trading a contract linked to the price of Bitcoin rather than necessarily buying Bitcoin itself. That distinction affects how the position works, including leverage, margin, funding and liquidation.
Terms that sit next to this one
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