Route guide
The perpetuals route: synthetic exposure and its costs
Synthetic exposure with no issuer, no token, no redemption (placeholder draft).
TL;DR · 30-SECOND VERSION
- Perps are synthetic exposure: no issuer, no token, no redemption — stated explicitly in the comparison table
- Leverage and funding are carrying costs; read the mark-price mechanism for underlying market closures first
- Beginners should start with spot tokens
- Understand the mechanism。 (Placeholder) Oracle source, market-closure handling, funding — see the mechanism fields on each perp venue page.
- Pick a venue。 (Placeholder) Filter by KYC, max leverage and mechanism transparency.
- Start small。 (Placeholder) Margin, liquidation levels and watching funding.
FAQ
Perp or spot token — which fits me?
(Placeholder) Spot tracks 1:1 without leverage; perps carry leverage and funding with no claim on shares.
Do perps trade while the underlying market is closed?
(Placeholder) Yes, but mark-price references differ by venue; see the venue page.
Operational information, not investment advice. Venue links go through /go/ redirects.