What Is Perpetual Trading in Crypto Futures?

Perpetual trading is the activity of speculating on a crypto asset's price movement using a derivative contract that never expires. You can open a Long position to profit when the market rises or a Short position to profit when it falls, and leverage can boost your potential profit — but it also raises your liquidation risk. On Pluang, every Crypto Futures contract is a perpetual contract, using USDT margin rather than IDR, with no expiry-dated alternative offered.

• Built on the concept of derivatives — a financial product whose value is based on another asset, in this case a crypto asset.
• Perpetual vs. expiry contracts — expiry futures have a set settlement date; perpetual contracts track the same price but never expire.
• Gain exposure without ownership — profit from price movement without owning the underlying crypto asset.
• Leverage cuts both ways — it magnifies potential profit and potential loss, and raises liquidation risk.
• Ongoing activity, not a one-time trade — perpetual trading involves actively managing margin, funding payments, and price over time.

Related questions:

Q: Does a perpetual futures contract ever expire?
No. Unlike expiry futures, a perpetual contract has no expiration date, so you can keep your position open for as long as you maintain sufficient margin. On Pluang, since every Crypto Futures contract is perpetual, this applies to every position you open.

Q: Can I profit in perpetual trading when the market is falling?
Yes. Opening a Short position lets you profit when the price of the underlying asset falls, alongside the option to open a Long position when you expect it to rise.

Q: Do I need to own the crypto asset to trade perpetual futures?
No. Perpetual futures give you price exposure to the underlying asset without requiring you to own it. Settlement and margin calculations all happen in USDT.

Q: Does leverage only increase my potential profit in perpetual trading?
No. Leverage increases both potential profit and potential loss, and higher leverage raises your risk of liquidation if the market moves against you.

Q: Is perpetual trading on Pluang any different from perpetual trading on other exchanges?
The core mechanics are the same concept industry-wide. On Pluang, every Crypto Futures contract is USDT-margined and perpetual by default, with no expiry-dated option offered.