Perpetuals
43k2.7MPerpetual markets let you take a leveraged long or short position on a price or metric. Unlike a typical prediction market, they have no scheduled expiry.
Oracle price
Each market uses Manifold's latest accepted update from the source shown below the chart. Long positions benefit when the value rises; short positions benefit when it falls. Oracle updates can lag the source.
Leverage and liquidation
Leverage multiplies both gains and losses. For example, M$100 at 5× gives M$500 of exposure. If the oracle reaches your liquidation price, your position closes and you can lose all the margin you posted. Profitable positions may also be auto-deleveraged if market backing becomes insufficient.
Funding while you hold
At each funding interval, the more crowded side pays the other side. Funding can reduce or increase your margin; the current rate and next funding time are shown above the chart.
No expiry
Your position stays open until you close it, it is liquidated or auto-deleveraged, or Manifold settles the market.
Stale feeds
If the oracle is stale or unavailable, opening and closing pause until a fresh, valid update arrives.
At 100×, a 1.0% move against you liquidates the position. Lower leverage, more room.
Of position size, charged once when you open or add. Closing is free. Fees go into the market’s backing, not to Manifold.
The more crowded side pays the other. The current rate and the next payment are shown above the chart.
Trades execute at the latest accepted oracle price. If the feed goes quiet for longer than this, opening and closing pause until it recovers.
We can only launch a perp on a number we can measure reliably. The suggestions with the best shot come with a free, public data source that updates at least hourly — an API, or a page we can read without logging in.