Context
The foundational concept page. Everything in /concepts/ builds on it, so it
has to be correct and it has to be genuinely introductory — a reader arriving
from spot trading should leave understanding why a contract with no expiry needs
funding to stay tethered to spot.
Scope
- What a perpetual is, and how it differs from a dated future and from spot.
- Why funding exists: the mechanism that keeps the perp price near the index.
- Long and short exposure explained symmetrically, with a worked example in both
directions using real numbers.
- What "position size", "collateral", and "entry price" mean here specifically.
- Where SO4's implementation differs from the generic description — link out
rather than duplicating.
Acceptance criteria
Out of scope
- Funding rate mechanics in depth (DX-076).
Spec: docs/dx_1/003_content_map.md §3 · Depends on: DX-070
Context
The foundational concept page. Everything in
/concepts/builds on it, so ithas to be correct and it has to be genuinely introductory — a reader arriving
from spot trading should leave understanding why a contract with no expiry needs
funding to stay tethered to spot.
Scope
directions using real numbers.
rather than duplicating.
Acceptance criteria
Out of scope
Spec:
docs/dx_1/003_content_map.md§3 · Depends on: DX-070