Guides
Perpetual futures, explained
How perpetual futures work: funding rates, liquidation, margin modes, order types and on-chain settlement, written for crypto traders. Every idea can be tried in the ZK Futures testnet terminal with play money.
October 18, 2026Market Depth Explained for Crypto TradersLearn what market depth means, how to read an order book, and how depth affects fills, slippage, leverage, and liquidation in perp markets.Read the guide 
October 18, 2026Deleveraging Explained for Perpetual FuturesDeleveraging explained for crypto perpetuals: what it means, how leverage and liquidation work, and what funding and margin change in practice.Read the guide 
October 18, 2026Stop Loss Meaning for Crypto TradersLearn stop loss meaning, how stop-loss orders work in crypto, and how they differ from liquidation in leveraged perpetual futures.Read the guide 
October 18, 2026Demo Trading Account ExplainedLearn what a demo trading account is, how futures practice works, and how leverage, margin, liquidation, and funding affect demo trades.Read the guide 
October 18, 2026Self Custody Explained for Crypto DerivativesSelf custody explained for traders: what it is, what it protects, and what it does not change when you trade crypto derivatives.Read the guide 
October 18, 2026Available Balance ExplainedAvailable balance explained for futures traders: what it means, how margin changes it, and why funding and liquidation matter.Read the guide 
October 18, 2026Cash and Carry ExplainedCash and carry explained for crypto traders: how the trade works, where funding fits in, and the main risks in perpetual futures.Read the guide 
October 18, 2026Carry Trade Meaning ExplainedLearn carry trade meaning in crypto perpetuals: funding, leverage, liquidation risk, and how holding costs can change a position over time.Read the guide 
October 18, 2026What Is Max Drawdown?Learn what max drawdown means, how to calculate it, and how leverage, liquidation, and funding affect what one trade can cost you.Read the guide 
October 18, 2026What Is Basis Risk?What is basis risk? Learn what it means in crypto hedging, why a hedge can miss, and how futures basis, funding, and liquidation affect risk.Read the guide 
October 18, 2026Margin Call Meaning in Leveraged TradingLearn the margin call meaning, how it differs from liquidation, and how leverage, margin, mark price, and funding work in perpetual futures.Read the guide 
October 18, 2026Market Order Explained for Crypto TradersLearn what a market order is, how it fills, when slippage happens, and how market orders work in crypto futures.Read the guide 
October 18, 2026Counterparty Risk Explained for Crypto TradersCounterparty risk explained clearly for crypto derivatives traders: what it is, where it shows up, and how to compare trading setups.Read the guide 
October 18, 2026Short Squeeze Meaning ExplainedLearn the short squeeze meaning, how it starts, why liquidations matter, and how leverage and funding can amplify moves in crypto futures.Read the guide 
October 18, 2026Risk Reward Explained for Crypto FuturesLearn risk reward in leveraged crypto trading: margin, liquidation, funding, and how to size and review trades with play-money examples.Read the guide 
October 18, 2026Cost Basis Explained for Futures TradersCost basis explained for crypto futures: learn how to read PnL, margin, liquidation, and funding in USDT-margined perpetuals.Read the guide 
October 18, 2026Liquidity Sweep Explained for Crypto TradersLearn what a liquidity sweep is, how it appears in the order book, why stops get triggered, and what it means for fills in perpetual futures.Read the guide 
October 18, 2026Bid Ask Spread ExplainedLearn what the bid ask spread is, why it changes, and how it affects fills, costs, slippage, and order-book reading in crypto futures.Read the guide 
October 18, 2026Liquidation Heatmap ExplainedLiquidation heatmap explained for crypto traders: what it shows, how leverage shapes it, where it misleads, and how to read it with risk in mind.Read the guide 
October 18, 2026Order Flow Explained for Crypto Futures TradersOrder flow explained: learn how orders hit the book, get filled, move price, and affect perpetual futures positions, funding, and liquidation.Read the guide 
October 18, 2026Trading Journal Explained for Futures BeginnersTrading journal explained in plain English: what to track, how to review trades, and how to practice futures trading with play money.Read the guide 
October 18, 2026Notional Value Explained for Crypto TradersLearn what notional value means in perpetual futures, how it differs from margin, and why it matters for leverage, funding, and liquidation.Read the guide 
October 18, 2026Fair Price Explained in TradingLearn what fair price means in futures trading, which price affects PnL and liquidation, and how to read mark, last, bid, and ask.Read the guide 
October 18, 2026Stop Order Explained for Crypto TradersLearn what a stop order is, how stop and stop-limit orders work, when they trigger, and the key risks when using them on crypto derivatives.Read the guide