Crypto Futures Trading Guide 2026: How to Trade BTC and ETH Futures
Crypto futures let you bet on price direction with leverage. This guide explains perpetuals vs. dated futures, funding rates, long vs. short mechanics, and risk management.
Crypto futures are derivatives contracts that track the price of an underlying asset without requiring you to own it. They allow both long (betting on price increase) and short (betting on price decrease) positions, with leverage up to 100x on some exchanges.
Perpetual Futures vs. Dated Futures
- Perpetual: no expiry date, most popular in crypto; price tracked via funding rates
- Quarterly/dated: expire on specific dates; basis to spot price reflects cost of carry
- Perpetuals: more liquid, easier for retail; dated futures: preferred by institutions for calendar hedges
Understanding Funding Rates
Funding rates are periodic payments between long and short holders that keep the perpetual price close to spot. When longs dominate (bullish sentiment), positive funding means longs pay shorts every 8 hours. During bearish sentiment, negative funding means shorts pay longs. High positive funding (>0.1%/8h) signals overleveraged longs and often precedes corrections.
Liquidation and Leverage Rules
- Never use >10x leverage unless you are an experienced trader
- Set a stop-loss well before the liquidation price
- Start with 2–3x leverage to understand mechanics before increasing
- Isolated margin > cross margin for beginners — limits loss to that position only
Trading Perpetuals on Steyble
Steyble Perps offers up to 50x leverage on BTC, ETH, and major altcoins with isolated margin, transparent funding rates, and automatic risk limits. Non-custodial — your collateral stays in a smart contract, not on a centralized exchange. Trade directly from your wallet.