What's a perpetual contract in crypto?

You've traded crypto. Now let's talk about derivatives - and specifically, what a perpetual contract is.

What is a derivative?

A derivative is a financial contract where its value is derived from an underlying asset - in this case, a digital asset like Bitcoin. You don't own the asset. You're taking a position on its price direction.

A perpetual contract carries no expiry date. Unlike traditional futures, you can hold your position for as long as you maintain sufficient margin.

On OKX Australia, we offer USDT-margined perpetual contracts that allow you to trade with a maximum of 2x leverage.

Select 2x for maximum leverage

You choose a direction.

Select Buy to take a long position if you think the price may rise. Select Sell to take a short position if you think the price may fall.

Buy (Long) and Sell (Short) selection

Point to the actual buttons. One sentence each. No deeper explanation is needed here.

Retail derivatives are perpetual contracts that allow you to trade with a maximum of 2x leverage as well.

Derivatives carry significant risk. You could lose all of the USDT deposited in your trading account. Understand the risks fully before you begin.

Before you can trade, you'll need to pass a suitability and knowledge assessment.

Select Start to complete suitability assessment and knowledge test

Derivatives involve a significant risk of loss and may not be suitable for all investors. This information is general in nature and isn't investment advice. If you're interested in accessing retail derivatives on our platform, visit here.

Disclaimer: Information about: digital currency exchange services is prepared by OKX Australia Pty Ltd (ABN 22 636 269 040); derivatives and margin by OKX Australia Financial Pty Ltd (ABN 14 145 724 509, AFSL 379035); and other products and services by the relevant OKX entities which offer them (see Terms of Service). This information is general in nature and does not take into account your objectives, financial situation or needs. You should do your own research and obtain professional advice, including to ensure you understand the risks associated with these products, before you make a decision about them. Digital assets are volatile and carry a high level of risk; you may lose some or all of your investment. Crypto derivatives carry significant risk. You could lose all of the USDT deposited in your trading account. Past performance is not indicative of future performance. Read our Terms of Service and Risk Disclosure Statement for more information. For crypto derivatives for retail clients, read the Product Disclosure Statement (PDS) and Financial Services Guide (FSG), and refer to the Target Market Determination (TMD) on our website.