Protocol
Asset specification
The source of information about perpetual futures is the Hyperliquid contract specification.
| Characteristic | Perpetual futures (Hyperliquid) | DERPs |
|---|---|---|
| Contract | Unit of underlying spot asset | Unit of underlying spot asset |
| Underlying asset | Any asset via price oracle | Any asset via price oracle |
| Initial margin fraction | 1 / leverage | 1 / leverage |
| Maintenance margin | 0.5 * max initial margin | 0.5 * max initial margin |
| Mark price | Robust, order book-based | Same as underlying asset |
| Account type | Cross or isolated margin | Cross margin |
| Funding rate | Based on index and mark price difference | Based on AMM skew |