Bitget offers two primary contract types for investors: Perpetual Contracts and Delivery Contracts. Both are crypto-asset-settled derivative products enabling traders to profit from price movements by going long (buy) or short (sell). Key differences lie in their expiration mechanisms—perpetual contracts have no expiry, while delivery contracts operate within fixed timelines.
What Are Perpetual Contracts?
Bitget’s perpetual contracts are non-expiring derivatives that track spot market prices via a funding rate mechanism. Available options include:
- USDT-Margined Perpetual Contracts
- USDC-Margined Perpetual Contracts
Key Features
No Expiry
- Positions can be held indefinitely, unlike time-bound delivery contracts.
Funding Rate System
- Adjusts every 8 hours to balance contract/spot price discrepancies.
- Positive rate: Long positions pay shorts; negative rate: vice versa.
Leverage Trading
- High leverage (e.g., 125x) amplifies gains/risks for long/short strategies.
| Parameter | Details |
|--------------------|------------------------------------------|
| Trading Pairs | BTCUSDT, ETHUSDT, BGBUSDT, etc. |
| Expiry | None (perpetual) |
| Settlement | USDT-denominated; BTC/ETH/BGB-quoted |
| Order Types | Quantity-based; cost-based orders |
👉 Explore Bitget’s perpetual contracts
What Are Delivery Contracts?
Delivery contracts bind parties to transact a set amount of crypto at a predetermined price and future date.
Example (BTC Delivery Contract)
Contract Terms:
- Delivery Date: December 31, 2022
- Price: $20,000
- Quantity: 5 BTC
Obligations:
- Seller: Must deliver 5 BTC at $20,000, regardless of market price.
- Buyer: Must purchase 5 BTC at $20,000, irrespective of current value.
Settlement:
- Based on the 30-minute weighted average price before expiry to prevent manipulation.
- Profits/losses settled in USDT; contract terminates post-delivery.
Early Closing:
- Positions can be manually closed before expiry.
Perpetual vs Delivery Contracts
| Feature | Perpetual Contracts | Delivery Contracts |
|---------------------|---------------------------------------|----------------------------------|
| Expiry | None | Fixed date |
| Settlement | Cash-settled | Physical/cash delivery |
| Pricing | Tied to index via funding rate | Directly mirrors spot prices |
| Funding Rate | Applicable | None |
| Leverage | Higher (e.g., 125x) | Lower |
| Liquidity | Higher | Moderate |
Core Differences
- Expiry: Perpetuals avoid mandatory closure; deliveries enforce it.
- Funding Fees: Perpetuals use fees to anchor prices; deliveries don’t.
FAQ
1. Which contract type is better for beginners?
Perpetuals simplify long-term strategies with no expiry pressure. Deliveries suit traders hedging specific future dates.
2. How often are funding rates paid?
Every 8 hours—adjustments depend on market conditions.
3. Can delivery contracts be rolled over?
No. They expire on the set date; new positions must be opened.
4. What’s the max leverage on Bitget?
Up to 125x for perpetuals; delivery contracts typically offer less.