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A perpetual future and a CFD both give long or short exposure to a price, with leverage, without owning the asset. The difference is who you trade against and what you pay to hold.

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Perps do not expire

No expiry, no rollover. A position stays open while the account meets margin. Instead of a broker’s overnight swap, perps use funding: an hourly payment between longs and shorts that keeps the perp contract price near the spot price.

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Pricing you can inspect

Perps trade on a public order book. Price, funding, and liquidation rules are the exchange’s and the same for everyone. CFDs are priced by the broker, over the counter, on the broker’s terms.

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24/7

Perps trade every hour of every day. CFDs follow the broker’s or the underlying market’s hours.

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Risk applies to both

Leverage cuts both ways on both products.

Fees

Maker and taker rates, funding, worked examples, and what is free.