About Us
Crypto Futures Desk is a publication about crypto derivatives: perpetual futures, funding rates, liquidations, market structure and the rules that govern them. We write for traders who want to understand the instrument before they size a position.
Why this desk exists
Perpetual futures are where crypto prices are actually set. Volume on the largest perp markets runs several times higher than spot, yet most of what gets written about them falls into two camps: exchange marketing that sells leverage, and social-media hype that sells conviction. Neither explains what happens to a 10x long when funding prints 0.03% three times a day, or why a well-hedged short can be closed by auto-deleveraging in the middle of a crash.
The 10–11 October 2025 cascade, when more than $19 billion of leveraged positions were liquidated in about a day, made the gap obvious. Most of the damage came from mechanics that were documented, predictable and widely misunderstood: crowded funding, liquidation levels inside a normal daily range, fragile collateral and ADL. Crypto Futures Desk was started to explain those mechanics plainly, with numbers.
What we cover
- Mechanics. Funding, mark price, margin modes, liquidation engines, insurance funds and ADL — explained with worked examples.
- Costs. What it actually costs to hold a position: funding, fees, slippage and the hurdle they set for a trade.
- Risk. How positions fail, and which checks catch the problem before the order is sent.
- Market structure. Centralised exchanges, perp DEXs, open interest, liquidity and how venues compare.
- Regulation. Where perps are permitted, how they are classified and what that means for leverage and investor protection.
How we work
- Numbers first. Every claim we can quantify, we quantify. If a guide says something is expensive, it shows the calculation.
- Dated facts. Markets and rules change quickly, so we state when figures and regulatory positions were current.
- Sources over opinions. We rely on exchange documentation, regulator statements and on-chain or market data, and we say when a figure is an estimate.
- Corrections. When we get something wrong, we fix it and note the change.
- No hype. We do not publish price predictions, signals or “next 100x” lists.
What we are not
Crypto Futures Desk is not a broker, exchange or investment adviser, and nothing we publish is financial advice. Our guides explain how instruments work; decisions about whether and how to trade them are yours. Leveraged derivatives carry a high risk of rapid loss and are not suitable for everyone.