Trading · 4 min
Futures oblige both sides to trade at a set price; options give the buyer a right, not a duty, for a premium. BRVX lists a third type: perpetual contracts, futures with no expiry and leverage up to 150x. Holding one costs funding every hour instead of a premium or a roll.
Side by side
| Futures | Options | Perpetuals (BRVX) | |
|---|---|---|---|
| Obligation | both sides must settle | buyer may walk away | none until you close |
| Upfront cost | margin | premium | margin plus open fee |
| Expiry | fixed date | fixed date | no expiry |
| Holding cost | priced into the contract | time decay | funding every hour |
| Max loss for buyer | can exceed margin at a broker | the premium | the margin posted |
Payoff shape
Futures are linear: each point the price moves adds or removes the same amount. Options are not: the buyer's loss stops at the premium while the upside keeps growing, and the seller takes the mirror image.
That makes options a tool for defined-risk bets and futures a tool for direct exposure or hedging.
Where perpetuals fit
A perpetual is a future without the expiry. Instead of converging at settlement, its price is kept near the market by funding payments, which on BRVX are charged every hour on most markets.
Updated
Questions about this topic
Does BRVX offer options?
No. BRVX lists perpetual contracts only.
Are options less risky than futures?
For the buyer, the loss is capped at the premium; for the seller it is not. Neither is risk-free.
Try it in the BRVX app
Open appLeveraged trading is high risk: you can lose your whole margin. Not available to US persons.