Crypto Facilities Derivatives Exchange Opens Perpetual Inverse Futures For 6 Coins
UK based crypto derivatives exchange, Crypto Facilities has today declared the launch of perpetual facilities for some six supported Cryptocurrencies through its twitter page.
Although the perpetual futures contract works like the normal future contract, but as an exception, it is everlasting with every four-hours auto rolling feature. This makes it a special type of futures contract. The rate for the next period (4 hours) is determined against the current period i.e. if the premium is negative, shorts pay longs while longs pay shorts if positive.
Based on the development, below is the specification for the perpetual futures that will be offered:
Inverse Perpetual Futures
- PI_XBTUSD – Bitcoin-Dollar
- PI_ETHUSD – Ether-Dollar
- PI_LTCUSD – Litecoin-Dollar
- PI_XRPUSD – XRP-Dollar
- PI_BCHUSD – BCH-Dollar
Vanilla Perpetual Futures
- PV_XRPXBT – XRP-Bitcoin
Apart from the XRP contracts which is designated by XRP, all other supported funds are designated in 1USD. The company claims they are the first to offer perpetual futures contract for the six assets.
While the platform offers auto rolling feature, traders have to dismiss his/her position to stop receiving returns from the futures contract.