> For the complete documentation index, see [llms.txt](https://docs.voltjuice.xyz/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.voltjuice.xyz/documentation/perpetuals.md).

# Perpetuals

What a perpetual is on this desk.

A perpetual has no expiry. You post margin, choose a leverage, and hold a long or a short. Funding moves between longs and shorts while it is open. You close it, or a liquidation closes it if the margin is no longer enough.

The ticker shows the mark, the oracle, the 24-hour change, volume, open interest, and the funding countdown. Positions and open orders sit under the chart.

Margin mode and leverage are per market. Account type is per account. The estimated liquidation on the ticket is an estimate, not a promise.


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