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Perpetual futures trading
Perpetual futures are the primary trading instrument on Markets by Kinetiq. Unlike traditional futures, perpetuals never expire, allowing you to hold positions indefinitely while maintaining leverage.
What are perpetual contracts?
Definition: A derivative contract that tracks the price of an underlying asset but has no expiration date or settlement.
Perpetuals vs traditional futures vs spot
Feature | Perpetuals | Traditional futures | Spot |
|---|---|---|---|
Expiration | Never | Quarterly/Monthly | N/A (instant settlement) |
Rollover | Not needed | Required | Not applicable |
Funding | Every hour | None | N/A |
Leverage | Up to 50× initially | Varies | 1× (no leverage) |
Settlement | USDH margined | Physical or cash | Instant delivery |
Liquidity | High | Varies by expiry | Asset dependent |
Best for | Active trading | Hedging with dates | Long-term holding |
Additional information on funding can be read here via the Hyperliquid documentation: Hyperliquid funding documentation
Spot trading
24/7 trading of existing Hyperliquid crypto spot listings are available through Markets by Kinetiq, with the ability to trade broader spot assets soon.
Spot trading lets you buy and sell assets directly at the current market price. When you trade spot on Markets by Kinetiq, you're exchanging assets outright with no leverage, no expiration. Unlike perpetuals, spot trades result in immediate and complete ownership of the asset you purchase.
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