# Perpetual Swaps ⎊ Area ⎊ Resource 10

---

## What is the Instrument of Perpetual Swaps?

Perpetual swaps are a type of derivative contract that allows traders to speculate on the price movements of an underlying asset without a fixed expiration date. Unlike traditional futures contracts, perpetual swaps do not require physical settlement at a specific time. This structure enables continuous trading and provides a mechanism for high-leverage positions in cryptocurrency markets.

## What is the Mechanism of Perpetual Swaps?

The core mechanism that keeps the perpetual swap price anchored to the spot price is the funding rate. This rate is a periodic payment exchanged between long and short position holders. When the perpetual contract trades at a premium to the spot price, long positions pay short positions, incentivizing short selling and pushing the price back toward equilibrium.

## What is the Leverage of Perpetual Swaps?

Perpetual swaps are widely utilized for providing high leverage to traders, allowing them to control large positions with a relatively small amount of collateral. This high leverage amplifies both potential profits and losses, making perpetual swaps a high-risk instrument. The mechanism of funding rates ensures that the market remains balanced even with significant leverage.


---

## [Execution Certainty](https://term.greeks.live/definition/execution-certainty/)

## [Borrowing Power](https://term.greeks.live/definition/borrowing-power/)

## [Leverage Factor](https://term.greeks.live/definition/leverage-factor/)

## [Multiplier](https://term.greeks.live/definition/multiplier/)

## [Margin Tier](https://term.greeks.live/definition/margin-tier/)

## [Leverage Multiplier](https://term.greeks.live/definition/leverage-multiplier/)

## [Leverage Ratio](https://term.greeks.live/definition/leverage-ratio/)

## [Premium and Discount](https://term.greeks.live/definition/premium-and-discount/)

## [Funding](https://term.greeks.live/definition/funding/)

## [Breakeven Price](https://term.greeks.live/definition/breakeven-price/)

## [Smirk](https://term.greeks.live/definition/smirk/)

## [Account Balance](https://term.greeks.live/definition/account-balance/)

## [Contract Maturity](https://term.greeks.live/definition/contract-maturity/)

## [Insurance](https://term.greeks.live/definition/insurance/)

## [Leverage](https://term.greeks.live/definition/leverage/)

## [Delta Neutral Neural Strategies](https://term.greeks.live/term/delta-neutral-neural-strategies/)

## [On-Chain Settlement Systems](https://term.greeks.live/term/on-chain-settlement-systems/)

## [Hybrid Settlement Architecture](https://term.greeks.live/term/hybrid-settlement-architecture/)

## [Hybrid Limit Order Book](https://term.greeks.live/term/hybrid-limit-order-book/)

## [Order Book Metrics](https://term.greeks.live/term/order-book-metrics/)

## [Virtual Order Book Synchronization](https://term.greeks.live/term/virtual-order-book-synchronization/)

## [True Greek Calculation](https://term.greeks.live/term/true-greek-calculation/)

## [Delta Hedging Invariants](https://term.greeks.live/term/delta-hedging-invariants/)

## [Real-Time Settlement Layer](https://term.greeks.live/term/real-time-settlement-layer/)

## [Massive Batching Proofs](https://term.greeks.live/term/massive-batching-proofs/)

## [Derivative Pricing Engine](https://term.greeks.live/term/derivative-pricing-engine/)

## [Systemic Collateral](https://term.greeks.live/term/systemic-collateral/)

## [On-Chain Margin Engine](https://term.greeks.live/term/on-chain-margin-engine/)

## [Multi Prover Model](https://term.greeks.live/term/multi-prover-model/)

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```


---

**Original URL:** https://term.greeks.live/area/perpetual-swaps/resource/10/