Stock perpetuals
Also called: stock perps · equity perpetuals · stock perpetual futures
Definition
Stock perpetuals are perpetual futures contracts that track the price of a share or stock index, letting you go long or short with leverage without owning the stock.
This entry is shown in English.
How Stock perpetuals works
They work like crypto perpetual futures. You post margin, usually in USDT or USDC, and open a long or short position. There is no expiry date. A funding rate paid between longs and shorts keeps the contract close to the index price, which is based on the underlying stock's price.
Because stock markets close at night and on weekends, venues handle off-hours differently. Some keep trading using internal pricing, some widen limits, and some pause or switch to a different price source. Gaps when the stock reopens can move the mark price sharply and trigger liquidations.
Stock perpetuals give price exposure only. You own no shares, receive no dividends in the normal way and have no shareholder rights. Availability depends on the platform and your country. Check the contract specification page for funding interval, trading hours, leverage limits and how the index is calculated.
Example
Suppose a stock perpetual tracks a share at 100 USD and you go long 10 contracts of 1 share each with 5x leverage, posting 200 USD margin for a 1,000 USD position. On Monday the stock opens 12% lower at 88 USD after weekend news. Your position loses 120 USD, 60% of your margin. With a 20% drop, the loss would be 200 USD, your full margin, and you would be liquidated before that point.
Common mistakes
- Holding leveraged positions over a weekend without planning for opening gaps.
- Expecting dividends or shareholder rights from a perpetual contract.
- Ignoring funding payments, which can add up on longer holds.
Learn and practise
Try it on an exchange
Bitget.com offers this. Sign up through our link and the code below is applied.
nexu888Open Bitget.comFAQ
What is the difference between stock perpetuals and tokenized stocks?
Tokenized stocks are tokens backed by real shares. Stock perpetuals are derivatives that track the price, use margin and leverage, and do not involve owning shares.
Do stock perpetuals trade on weekends?
It depends on the platform. Some trade around the clock with special pricing rules, others restrict trading when the stock market is closed.