Фьючерсы

A futures contract obligates both parties to complete the trade at expiration at the price fixed when the contract was entered. The buyer undertakes to buy the asset, and the seller to sell it. The contract trades on an exchange, not directly between counterparties, so the volume, underlying asset, lot size and settlement date are standardized in advance.

## How it works

In practice, most futures are closed before expiration by realizing the difference between the entry and exit prices. The exchange maintains margin: the trader deposits funds and must keep the balance at the required level when the price moves against them. If funds are insufficient, the position is forcibly closed, which is called liquidation.

## Where it's used

In crypto, futures are one of the main instruments of the derivatives market. Perpetual contracts, which have no expiration date and keep their price close to the spot price through a funding mechanism, are the most common. In fintech and payments, futures are used to hedge currency and interest rate risk, for example in multi-currency settlements.

## What it affects

Leverage multiplies both profit and loss relative to the margin deposited. High volatility of the underlying asset reduces the distance to liquidation. Fees, funding and slippage can together significantly reduce the final result, even if the directional forecast turns out to be correct.

## Common mistakes

Typical mistakes include trading at maximum leverage without calculating the liquidation price, confusing a futures contract with an expiration date with a perpetual contract, ignoring the funding rate while holding a position, and not using stop orders during periods of low liquidity.