INTERMEDIATE
Master perpetual contracts from first principles — how funding rates maintain the peg, how liquidations work, how major perp DEXs are built, and how to trade them profitably.
Understand what perpetual contracts are, how they differ from dated futures, and how the mark price system works.
Master the funding rate mechanism — how it's calculated, how it keeps perp prices anchored to spot, and the economics of cash-and-carry arbitrage.
Learn how isolated and cross margin work, how to size positions with leverage, and what happens when a position gets liquidated.
Compare the three major architectural approaches to decentralised perpetual exchanges: vAMM/GLP models, on-chain order books, and oracle-based perps.
Apply perpetual contract knowledge to real strategies — funding rate farming, delta-neutral positions, and managing the full risk landscape.
