DEX & Trading
Perpetual DEX
A decentralized exchange that trades perpetual futures contracts with no expiry date, kept aligned with spot via a funding rate.
By Protocol Signal Research · Research Desk
A perpetual DEX (or perp DEX) lets users open leveraged long or short positions against an asset without owning it. Unlike traditional futures, perpetuals have no expiry — instead, a periodic funding payment between longs and shorts keeps the perp price anchored to spot. Perp DEXs differ in their matching model (CLOB, AMM, oracle-priced pool), trust assumptions (chain settlement, validator set), and fee economics.