<ul data-eligibleForWebStory="false"><li>CFDs emerged in the 1990s as trading tools for institutions and later became a retail product, offering access to global markets with leverage but lack transparency.</li><li>Perpetual futures, introduced by BitMEX in 2016, have revolutionized trading by offering a product that tracks spot markets without the need for brokers to set prices.</li><li>CFDs have drawbacks like trading against the broker, spread manipulation, and price discrepancies. In contrast, perpetual futures offer transparency with public order books and real-time market dynamics.</li><li>Perpetual futures provide a transparent, competitive market structure, attracting significant trading volumes, and offering simplicity, efficiency, and limited risk for traders.</li></ul>

CFDs Traders Are Trading in a "Closed Box": Can Crypto Perpetuals Challenge This?

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