Crypto perpetual futures on Flipster: contracts, fees, funding and margin

A perpetual futures contract, also called a perpetual swap, is a futures contract with no expiry date. You post margin in USDT, go long or short, and hold the position until you close it or it is liquidated.

1. Index price. Last prices from major exchanges are averaged, every second.

2. Mark price. Flipster calculates a fair-price mark for the contract.

3. Funding. At each funding timestamp, longs and shorts exchange a payment.

4. Liquidation threshold. If the mark price reaches your liquidation price, the position is closed.

Index price and mark price

The index is the reference for the underlying market. On BTCUSDT it averages last prices from eight exchanges and updates every second.

The mark price is Flipster’s own figure: the Derivatives Trading Terms define it as the fair market value of the contract, as calculated by Flipster. Liquidation is measured against it. See the mark price, index price and margin definitions.

Funding between longs and shorts

Funding is a cost or a credit between traders; Flipster’s guide says the platform levies no additional cost on it. When the funding fee is positive, longs pay shorts. When it is negative, shorts pay longs.

It is exchanged every 4 or 8 hours, depending on the contract, and only on positions held at the funding timestamp. It is not a return paid by the venue. The guide has the funding rate formula and worked examples.

Margin and settlement in USDT

Contracts are quoted and settled in USDT. You gain or lose USDT as the price moves; you do not own or receive the coin.

Margin is the collateral behind a leveraged position: initial margin opens it and maintenance margin keeps it open. Which assets count as initial margin depends on the asset mode.

Every contract has its own rules page. BTCUSDT is the example: one contract is worth 1 BTC and funding is exchanged three times a day.

The order, position and open-interest figures are platform-wide maximums. The contract page states that your own order and position limits may vary with your assigned trading tier.

Funding schedules differ by contract. The gold contract, XAUUSDT, exchanges funding every 4 hours with a cap of 0.5000%, against every 8 hours and 0.3000% here. See perpetuals on gold, US stocks and ETFs.

BTCUSDT is one of 243 perpetual contract pages, crypto and TradFi together, in the sitemap on 6 October 2026. Terms can change: check the live page at flipster.io/support/trading-rules/contract/BTCUSDT.PERP before you trade.

The entry tier, VIP0, has no volume or balance requirement. A maker order costs 0.02% of the filled value and a taker order 0.06%. The fee is charged on each fill, so opening and closing a position are two separate charges.

Trading fee = filled quantity x executed price x maker or taker fee

Funding payments and the liquidation fee are separate from trading fees. Funding moves between traders; the liquidation fee is set out in the liquidation section below.

Liquidation is automatic. Under the Derivatives Trading Terms, if the mark price hits the liquidation price, the position is closed without prior notice. The service runs 24 hours a day, 7 days a week, so margin calls and liquidations can happen at any hour.

The margin guide describes the sequence. When collateral falls below the maintenance margin, a Backstop Liquidity Provider unwinds the position. If it is closed at a better price than the bankruptcy price, the remaining margin goes to the Insurance Fund. If there is a shortfall, the Insurance Fund covers it.

When the Insurance Fund cannot absorb a position, the terms allow counterparty liquidation, which can close a profitable position on the other side. The BTCUSDT contract page lists auto-deleveraging as enabled.

The formula and worked examples are in the guide on how to calculate a liquidation price.

Availability depends on where you live and on which Flipster company serves you. The table records what the published sources show. Where they are silent, it says so.

The live home page tells users that eligibility varies by jurisdiction and to check their country status before registering. For sign-up and country questions, see the account and availability questions.

The licences page explains what the VARA licence of Flipster FZE covers: Exchange Services under VASP Licence VL/26/07/002.

A perpetual contract gives leveraged price exposure, long or short, without owning the asset and without an expiry date. The price of that is funding for as long as the position is open, and the risk of liquidation.

Spot means owning the asset outright. Dated futures expire, so a position has to be closed or rolled.

The last row of the table gives the main drawback of each. Longer explanations are among the guides to perpetual futures in Flipster Learn. If you would rather follow another trader than place your own orders, read about copy trading for perpetual futures first.

Loss greater than your deposit

Leverage multiplies the effect of every price move on your margin. The terms warn that you can lose your entire deposit in a very short period of time, and that the amount you may lose is “potentially unlimited” and can exceed what you originally deposited.

Liquidation without notice

When the mark price reaches the liquidation price, the position is closed automatically, with no prior notice, and a liquidation fee of half the maintenance margin is charged. The service runs around the clock, so it can happen while you are away from the screen.

Funding costs

If you are on the paying side at a funding timestamp, funding is a cost. It recurs every 4 or 8 hours for as long as the position stays open, and the rate changes with the market. A position that is cheap to open can become expensive to hold.

Crypto perpetual futures on Flipster are provided by Flipster Corp, a company incorporated under the laws of the Republic of Panama, under its Terms of Use and its Derivatives Trading Terms. The site states no licence, registration or regulator for Flipster Corp.

Flipster FZE is a separate company. It is licensed by the Virtual Assets Regulatory Authority (VARA), Dubai, for Exchange Services under VASP Licence VL/26/07/002, issued on 14 July 2026. That licence is not stated to cover perpetual futures and does not extend to customers of Flipster Corp. More on the companies that operate Flipster.

What is not covered: as the risk warning says, your investments do not benefit from any form of financial protection. How client assets are held is described under proof of reserves and custody.

This page is for information only and is not investment advice. The terms were read on 11 October 2026 and can change.