Perpetual futures

Perpetual futures (perps) are derivatives that track an asset's price with no expiry, held in balance by a periodic funding payment between longs and shorts. On Robinhood Chain they are a thin slice of activity so far — around $4.4m of 24h volume in early July 2026 against far larger spot DEX volume — traded on venues such as Arcus and the ZK-based Lighter.