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Expiry
Expiry is the date or time when a derivative contract reaches the end of its contractual life or enters its specified settlement process. Traditional futures and options commonly have expiry dates. Perpetual futures do not have a fixed expiry date.
Why it matters to you
The absence of expiry is one of the defining features of a perpetual futures contract. A trader does not need to roll a perp into a later dated contract simply because a scheduled expiry is approaching. However, keeping a position open still requires the trader to meet margin requirements and can involve recurring funding payments.
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