Crypto Perpetual

CryptoPerpetual represents a crypto perpetual futures contract, also known as a perpetual swap. It has no expiry, tracks a crypto base asset, and settles in a crypto, stablecoin, or other venue-defined settlement currency.

Examples include ETHUSDT-PERP.BINANCE, XBTUSD.BITMEX, and BTC-USD-SWAP.OKX.

Fields

Field	Rust type	Python type	Required/default	Notes
`instrument_id`	`InstrumentId`	`InstrumentId`	Required	Stored as `id` in Rust.
`raw_symbol`	`Symbol`	`Symbol`	Required	Native venue symbol.
`base_currency`	`Currency`	`Currency`	Required	Base crypto asset.
`quote_currency`	`Currency`	`Currency`	Required	Price quote currency.
`settlement_currency`	`Currency`	`Currency`	Required	Currency used to settle PnL and fees.
`is_inverse`	`bool`	`bool`	Required	True when sizing/costing is inverse.
`price_precision`	`u8`	`int`	Required	Decimal places allowed for prices.
`size_precision`	`u8`	`int`	Required	Decimal places allowed for order sizes.
`price_increment`	`Price`	`Price`	Required	Smallest valid price step.
`size_increment`	`Quantity`	`Quantity`	Required	Smallest valid size step.
`ts_event`	`UnixNanos`	`int`	Required	Event timestamp in nanoseconds.
`ts_init`	`UnixNanos`	`int`	Required	Initialization timestamp in nanoseconds.
`multiplier`	`Quantity`	`Quantity`	`1`	Contract multiplier.
`lot_size`	`Quantity`	`Quantity`	`1`	Rounded lot or board size.
`max_quantity`	`Option<Quantity>`	`Quantity \| None`	`None`	Maximum order quantity.
`min_quantity`	`Option<Quantity>`	`Quantity \| None`	`None`	Minimum order quantity.
`max_notional`	`Option<Money>`	`Money \| None`	`None`	Maximum order notional value.
`min_notional`	`Option<Money>`	`Money \| None`	`None`	Minimum order notional value.
`max_price`	`Option<Price>`	`Price \| None`	`None`	Maximum valid quote or order price.
`min_price`	`Option<Price>`	`Price \| None`	`None`	Minimum valid quote or order price.
`margin_init`	`Option<Decimal>`	`Decimal \| None`	`0`	Initial margin rate.
`margin_maint`	`Option<Decimal>`	`Decimal \| None`	`0`	Maintenance margin rate.
`maker_fee`	`Option<Decimal>`	`Decimal \| None`	`0`	Maker fee rate. Negative values rebate.
`taker_fee`	`Option<Decimal>`	`Decimal \| None`	`0`	Taker fee rate. Negative values rebate.
`tick_scheme_name`	N/A	`str \| None`	`None`	Registered variable tick scheme name.
`info`	`Option<Params>`	`dict \| None`	`None`	Adapter metadata.

Note: Python constructors use instrument_id; Rust stores the same value as id.

Behavior

CryptoPerpetual has asset class Cryptocurrency and instrument class Swap.
It has no activation or expiration timestamp.
Linear contracts typically set is_inverse=False and settle in the quote currency.
Inverse contracts set is_inverse=True and typically settle in the base currency.
Quanto contracts settle in a third currency that differs from both base and quote.
The cost currency is base for inverse contracts, settlement for quanto contracts, and quote otherwise.

:::note Funding payments are not fields on the instrument. They arrive as data, such as FundingRateUpdate, and reference the instrument ID. :::

Example

rust

use nautilus_core::UnixNanos;
use nautilus_model::{
    identifiers::{InstrumentId, Symbol},
    instruments::{CryptoPerpetual, InstrumentAny},
    types::{Currency, Money, Price, Quantity},
};
use rust_decimal_macros::dec;

let ethusdt_perp = CryptoPerpetual::builder()
    .instrument_id(InstrumentId::from("ETHUSDT-PERP.BINANCE"))
    .raw_symbol(Symbol::from("ETHUSDT"))
    .base_currency(Currency::from("ETH"))
    .quote_currency(Currency::from("USDT"))
    .settlement_currency(Currency::from("USDT"))
    .is_inverse(false)
    .price_precision(2)
    .size_precision(3)
    .price_increment(Price::from("0.01"))
    .size_increment(Quantity::from("0.001"))
    .max_quantity(Quantity::from("10000.000"))
    .min_quantity(Quantity::from("0.001"))
    .min_notional(Money::from("10.00 USDT"))
    .max_price(Price::from("15000.00"))
    .min_price(Price::from("1.00"))
    .margin_init(dec!(1.0))
    .margin_maint(dec!(0.35))
    .maker_fee(dec!(0.0002))
    .taker_fee(dec!(0.0004))
    .ts_event(UnixNanos::default())
    .ts_init(UnixNanos::default())
    .build()
    .unwrap();

let instrument = InstrumentAny::CryptoPerpetual(ethusdt_perp);

python

from decimal import Decimal

from nautilus_trader.model.currencies import ETH
from nautilus_trader.model.currencies import USDT
from nautilus_trader.model.identifiers import InstrumentId
from nautilus_trader.model.identifiers import Symbol
from nautilus_trader.model.instruments import CryptoPerpetual
from nautilus_trader.model.objects import Money
from nautilus_trader.model.objects import Price
from nautilus_trader.model.objects import Quantity

ethusdt_perp = CryptoPerpetual(
    instrument_id=InstrumentId.from_str("ETHUSDT-PERP.BINANCE"),
    raw_symbol=Symbol("ETHUSDT"),
    base_currency=ETH,
    quote_currency=USDT,
    settlement_currency=USDT,
    is_inverse=False,
    price_precision=2,
    size_precision=3,
    price_increment=Price.from_str("0.01"),
    size_increment=Quantity.from_str("0.001"),
    ts_event=0,
    ts_init=0,
    max_quantity=Quantity.from_str("10000.000"),
    min_quantity=Quantity.from_str("0.001"),
    min_notional=Money.from_str("10.00 USDT"),
    max_price=Price.from_str("15000.00"),
    min_price=Price.from_str("1.00"),
    margin_init=Decimal("1.0"),
    margin_maint=Decimal("0.35"),
    maker_fee=Decimal("0.0002"),
    taker_fee=Decimal("0.0004"),
)

Adapters

Representative adapters that create or consume CryptoPerpetual instruments include:

Binance for USD-M and COIN-M perpetual futures.
BitMEX for inverse and linear perpetual contracts.
Bybit for linear and inverse perpetual products.
dYdX for perpetual markets.
Hyperliquid for perpetual markets.
Kraken for futures venue perpetual markets.
OKX for swap markets.
Tardis for crypto perpetual metadata.

Data covers mark prices, index prices, and funding rate updates.
Options covers option-specific instrument types.
Execution explains precision and notional checks before orders reach a venue.

Crypto Perpetual

Crypto Perpetual

Fields

Behavior

Example

Adapters

Related guides