Crypto perps cost guide · Reviewed 2026-11-08

Best Crypto Perps: glossary

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Definitions for crypto perps cost guide.

Perpetual contract

A derivative with no scheduled expiry. Its price can differ from its reference price. Funding, fees, margin requirements, and liquidation rules affect the position.

Notional value

The value of the position’s market exposure. Fees often apply to this amount, rather than only to the collateral supplied as margin.

Funding

A periodic payment associated with holding a perpetual position. Its direction and amount can change. A received payment does not remove price or liquidation risk.

Initial margin

The collateral requirement for opening or increasing a position. It is different from maintenance margin, which concerns keeping an existing position open.