ELI5: Explain Like I'm 5

perpetual future

Perpetual futures are a type of futures contract that never expire. They are like regular futures contracts, but they do not have an expiration date, so they never expire or need to be replaced. This means you can buy and sell them anytime you want, and there is no need to worry about when they will expire. Perpetual futures are different from regular futures contracts, because they are traded and settled continuously, rather than having a set expiration date. Because of this, they have the potential to provide more flexible hedging and investment opportunities.
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