Definition ∞ Zero-fee perps denote perpetual futures contracts offered by cryptocurrency exchanges without any trading fees. Perpetual futures are derivatives that allow traders to speculate on the future price of an asset without an expiry date. The “zero-fee” aspect means participants do not incur standard transaction costs for opening or closing these positions. This arrangement aims to attract high-volume traders.
Context ∞ Zero-fee perps are a competitive offering in the digital asset derivatives market, often featured in crypto news regarding exchange strategies and trading volume. They influence market liquidity and trading behavior, as the absence of fees can significantly alter profit margins for active traders. This model impacts exchange revenue structures and competition within the broader cryptocurrency trading ecosystem.