Perpetual swap

A perpetual swap is a derivative product that enables users to buy or sell the value of the underlying asset, without holding the asset itself. The advantages of perpetual swaps include:

• there is no expiry date to your position (i.e., you can hold it as long as you want)

• the underlying asset itself is never traded (meaning no custody issues)

• funding rates work to ensure that the swap price closely tracks the price of the underlying asset (though this may fluctuate in periods of high volatility or other market conditions-- see funding rates) .

• it is simple to short assets with perpetual swaps.

For more info, check out this article on perpetual swaps