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A perpetual future is a futures-style contract with no expiry date, kept close to the spot price by regular funding payments between long and short holders instead of an overnight swap. At GCC Brokers the gold and Bitcoin perpetuals (XAUUSDPERP and BTCUSDPERP) have no expiry and no overnight swap; funding times and rates are shown in each instrument’s specifications.
You buy BTCUSDPERP and hold it for a week. There is no expiry to manage and no nightly swap, but at each funding time you pay or receive funding depending on whether the perpetual trades above or below the spot price.
