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In general, you can turn a future into a perp by having, by default, positions roll at the market price prior to expiration. Super cool!

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Dave White

@_Dave__White_

May 11, 2021

i've been working on a new financial product: everlasting options perps give traders never-ending futures exposure without the effort, risk, or cost of rolling now, we can do the same for options... and @SBF_Alameda and I have a simple pricing model paradigm.xyz/2021/05/everla

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6:41 PM · May 11, 2021Twitter Web App

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and

if you squint, you can see the whole thing just waiting to be discovered in

@SBF_Alameda

's contribution to research.paradigm.xyz/cartoon-guide- ("Perp as One-Day Future")

research.paradigm.xyz

The Cartoon Guide to Perps

A cartoon guide to perpetual swaps.

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still 90%

on this one though :)

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and

It's rarely that simple. Just saying. n>0

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and

You’d get really weird and likely undesirable price action if you just did that. Example: last year front month crude oil going hugely negative. Commodity ETFs were kind of like this. Investors in USO and UNG got systematically hosed by the roll.

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and

2/ vaguely similar to how the levered products (like 2x short real estate ETF) actually *lost* money in 2008 despite its tracking index being down massively. Not really a perp as people would likely expect.

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and

But we need a way to turn a perp into a future, for those of us willing to pay premia up front for fixed overheads... or we just need FTX to list traditional futures for more of the squirrely coins :o

danw.eth

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and

Problem is not enough liquidity on quarterly futures for coins with low volume

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and

Do you have any news concerning a mobile app update? Me and likely other traders would highly appreciate a new version with more features like drawing etc.

@SBF_Alameda

@FTX_Official