Perpetual Contracts Guide

This page explains how perpetual contracts work on Fittyx. It covers the mechanics: no expiry, funding, mark price and margin. The Futures Guide covers how to open an account and place an order. Trading still requires a logged-in account.

Open the futures terminal

What is a perpetual contract?

A perpetual contract is a crypto derivative similar to a traditional futures contract, with two differences that matter on Fittyx: it has no expiry or settlement date, and funding is used so the contract trades close to the underlying spot index.

Fittyx futures products are perpetual contracts. Spot, options and copy trading are separate products on the same platform. This page does not replace the contract specifications shown in the terminal.

Funding

Funding is a periodic payment between long and short holders. If the funding rate is positive, longs pay shorts. If it is negative, shorts pay longs. The purpose is to keep the perpetual price close to the spot index, unlike dated futures that can trade at a large basis.

You pay or receive funding only if you hold a position at a funding timestamp. Closing before that timestamp means you do not pay or receive that interval's funding. The amount is based on position value and the funding rate shown for that contract, not on how much leverage you chose.

Do not rely on third-party examples of timestamps or formulas. Interval, rate and history are shown in the contract terminal for each listed pair. Use those on-screen values.

Mark price

Open perpetual positions are marked to a mark price, not only the last traded price. Unrealised PNL and liquidation checks use the mark price so that a brief spike in the last price is less likely to force a close.

Margin and leverage

Initial margin is the collateral required to open a position. Maintenance margin is the minimum collateral needed to keep it open. If equity falls to the maintenance level, the position can be liquidated.

Leverage lets you open a larger position than your posted margin. Higher leverage means a smaller margin buffer and a higher liquidation risk. Available leverage and margin ratios are shown in the terminal for each contract.

Live specifications

Pair list, funding rate, mark price, margin ratios and fees are shown in the futures terminal after you sign in. This guide describes the mechanism. It does not publish a fixed schedule or a formula that may not match the engine.

Risks

Leverage magnifies both profit and loss. You can lose more than your initial margin and have positions closed automatically. Funding can add a cost or a credit while a position is open. This page is educational and is not investment advice. Read the User Agreement and Security Guide before you trade.

Frequently asked questions

Do perpetual contracts on Fittyx expire?

No. Perpetual contracts have no expiry or settlement date. You close a position with an opposite order, or the engine may close it if margin is no longer sufficient.

How does a perpetual stay close to the spot price?

Funding is the main tether. Longs and shorts exchange a periodic payment so the contract price stays close to the underlying spot index. The rate and interval for each pair are shown in the contract terminal.

When do I pay or receive funding?

Only if you hold a position at a funding timestamp. If you close before that timestamp, you do not pay or receive that interval's funding. Amounts use position value and the rate shown in the terminal, not your leverage.

What is mark price used for?

Unrealised PNL and liquidation checks use the mark price, not only the last traded price. That reduces the chance that a brief last-price spike forces a close.

Where can I see the live funding rate and margin requirements?

In the futures terminal after you sign in. Use the on-screen contract specifications. This page does not list timestamps, caps or formulas that may differ from the live engine.

How is this page different from the Futures Guide?

The Futures Guide covers the product and how to open an account and place an order. This page covers perpetual mechanics: no expiry, funding, mark price and margin. Both apply to Fittyx futures.