What are X-Perps (Expiry Perps)?

X-Perps (also called Expiry Perps) are derivative contracts that let you gain ex

X-Perps (also called Expiry Perps) are derivative contracts that let you gain exposure to a cryptoasset's price movement without owning the underlying asset directly.

X-Perps have a continuous funding rate, real-time margining, and the same day-to-day trading experience as other derivative contracts. The key difference is that they have a fixed settlement date 60 months (5 years) from issuance. Because the settlement date is so far in the future, X-Perps behave functionally like perpetuals for the vast majority of traders.