A perpetual future never expires, so a funding payment between longs and shorts does the job that a settlement date does for ordinary futures. In the US, a 2026 lawsuit is now testing whether that structure counts as a future at all. The post What a perpetual future is, how fundi...
What a perpetual future is, how funding keeps it near spot, and why regulators disagree on what it legally is
其他语言标题
- EnglishA perpetual future is a type of derivative contract that allows traders to speculate on the price of an asset without an expiration date. The funding rate mechanism periodically exchanges payments between long and short positions to keep the contract price anchored near the spot price. Regulators disagree on its legal classification because it combines features of both futures and spot trading, and its decentralized, global nature complicates jurisdictional oversight and existing financial regulations.
- 한국어무기한 선물이 무엇인지, 자금 조달이 어떻게 이를 현물 가격에 근접하게 유지하는지, 그리고 규제 기관들이 이를 법적으로 무엇으로 볼지에 대해 의견이 엇갈리는 이유