Research
Four ideas you need before a live perpetual
These notes explain the contract PERP KING trades. They are educational. They are not a signal, not a forecast, and not a recommendation to trade.
Why these four
An autonomous system still trades a contract with rules. If you do not know how that contract is priced, how funding moves cash, how liquidation is triggered, and what a stop at the exchange can and cannot do, the rest of the product is easy to misread.
- Perpetual futures — no expiry, long and short, margin, and the linear contract on Kraken.
- Funding — the hourly payment between longs and shorts, from Kraken's specification.
- Liquidation — maintenance margin, the mark price, and why a stop is not the same thing.
- Protective stops — the reduce-only stop PERP KING places at the exchange, triggered on the mark.
- Glossary — the short definitions, with what each word does not mean.
Where a number belongs to Kraken, the page says so and links the document. PERP KING's own behaviour is described separately, without the private decision formula. The product that uses these contracts is autonomous perpetual futures trading, and the way a position is carried is position management.
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