Perp Trading

Aurora Perpetuals

Perpetuals trading on Aurora gives traders exposure to asset price movements without requiring ownership of the underlying token. A perpetual contract (or “perp”) is a derivative that tracks the spot price of an asset but never expires.

For example, in the BTC/USDT perpetual market, you can open a long position if you believe BTC will rise, or a short position if you expect it to fall. All profit and loss are settled in USDT (or the collateral asset), without ever needing to hold actual BTC.

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Key Features of Aurora Perpetuals

• No Expiry Unlike futures contracts, Aurora perps never expire, allowing traders to hold positions as long as they maintain margin requirements.

• Directional Trading

  • Long → profit if the asset price rises.

  • Short → profit if the asset price falls.

• Leverage Traders can use leverage to amplify exposure, opening larger positions than their posted collateral.

• Funding Payments To keep perp prices aligned with spot markets, Aurora employs funding rates, where longs and shorts exchange periodic payments depending on market conditions.

• Clearinghouse Protection All margining, liquidations, and PnL accounting are handled by the Aurora Clearinghouse, ensuring system-wide consistency and fairness.