Perpetual contracts are a type of financial derivatives between spot margin trading and futures trading.
Compared with traditional delivery contracts，Similarities: All transactions are standardized contracts, all use a margin system, and both can be traded T+0.
Differences: Perpetual contracts do not require delivery, have no expiration date, and theoretically traders can hold them indefinitely. Therefore, in order to anchor the spot price, perpetual contracts use a funding mechanism, which ensures that the contract will not deviate significantly from the spot price through the mutual funding of buying and selling (long and short) at regular intervals.