Beginner's First Lesson: Understanding Gate's Contract Matrix from Delivery Contracts to Perpetual Contracts in One Chart

For beginners just entering the cryptocurrency world, trading contracts can often be an enticing yet confusing area. The potential gains from high leverage stand in stark contrast to complex terminology. When you open Gate’s contract page, terms like “perpetual contracts,” “delivery contracts,” and “funding rates” may leave you overwhelmed.

Don’t worry—this is a necessary step for every trader. This article will explain, in simple language, the key differences between the two main products in Gate’s contract matrix—delivery contracts and perpetual contracts. After reading this, you’ll not only understand the rules but also be able to find your first suitable trade.

Why do you need to understand contract types first?

Many newcomers, when making their first contract trade on Gate, focus only on “buying long” or “buying short,” but overlook a fundamental question: what are the rules of the underlying asset you’re trading?

It’s like driving—although both involve pressing the accelerator, the logic of automatic and manual transmissions is completely different. On the Gate platform, the main derivative contracts can be divided into two categories: perpetual contracts and delivery contracts. Their mechanisms, holding costs, and strategies are entirely different.

Core Concept: Visualizing Perpetual vs. Delivery Contracts

To better understand, think of Gate’s contract matrix as a traffic system:

Deep Dive into Gate’s Contract Matrix

Perpetual Contracts: The Never-Ending Trading Arena

Perpetual contracts are currently the dominant force in the crypto market, with Bitcoin perpetual contracts often accounting for over 90% of trading volume on major exchanges. Their biggest appeal is “unlimited holding.”

• How it works—Funding Rate:

Since there’s no expiration date, perpetual contracts introduce a funding rate mechanism to prevent prices from drifting too far from spot prices.

It’s like a “long-short rent”: when the contract price is above spot (premium), longs pay funding fees to shorts to curb overheating bullish sentiment and bring prices back. Conversely, if the contract price is below spot (discount), shorts pay longs. For Gate users: this means holding a perpetual contract long-term isn’t “free”—you need to watch the funding fee settlement every 8 hours. If your position is opposite to the rate and the rate is high, this can be a significant cost.

• Gate’s Unique Advantage: Macro Perpetual Contracts

Beyond standard crypto contracts, Gate has greatly expanded its contract offerings, launching macro perpetual contracts. As of February 2026, Gate has listed over 70 macro perpetual contracts. You can trade traditional assets like gold, silver, tokenized Apple stocks, and Nasdaq indices directly with USDT, 24/7. Even when traditional markets are closed (e.g., weekends or during breaking news), you can hedge or build positions via Gate’s macro perpetual contracts, enabling truly cross-market, all-day asset management.

Delivery Contracts: The Time-Limited Game

Delivery contracts are closer to traditional futures. On Gate, they are usually categorized by weekly, bi-weekly, quarterly, etc.

• How it works—Settlement at expiration:

Each contract has a clear “settlement date.” For example, if you buy a BTC quarterly contract, the system will automatically close your position and settle in cash on the specified date based on the final settlement price.

• Who are they suitable for?
  • Hedgers: If you hold spot assets and worry about price drops over the next month, you can sell delivery contracts to hedge.
  • Arbitrageurs: Professional traders often exploit price differences (basis) between futures and spot.
  • Macro cycle traders: If you strongly believe an event (like US elections or halving) will impact the market in 3 months, choosing the corresponding delivery contract can avoid funding rate interference from perpetuals.

How should beginners choose? A guide to your first trade on Gate

After understanding these differences, how do you take your first step among Gate’s rich contract offerings?

If you fit the following profile, starting with perpetual contracts is recommended:

• You want short-term or swing trading, ready to enter and exit at any time.
• You’re just practicing contract trading and don’t want to be chased by “delivery dates.”
• You want to trade macro assets like gold or stocks, experiencing 24/7 global market connectivity.

If you fit these criteria, delivery contracts might be more suitable:

• You have a strong directional view for the next 1 or 3 months.
• You hold significant spot assets and want to hedge.
• You notice that the “delivery contract” price is significantly more favorable than the “perpetual” (e.g., in a large premium), and you plan to hold until near the delivery date.

Risk Tips and Summary

When trading contracts on Gate, regardless of the type, keep these points in mind:

1. Leverage is a double-edged sword: high leverage can amplify gains but also wipe out your capital instantly. Beginners should start with low leverage (e.g., 2x–5x).
2. Perpetual contracts involve funding fees: don’t just look at candlesticks—factor in funding costs when planning.
3. Delivery contracts are time-sensitive: set reminders to close positions before expiration or prepare for automatic settlement. Liquidity may decline near expiry, and prices can be volatile.

Gate’s contract matrix is designed very clearly, offering flexible, round-the-clock perpetual contracts for short-term traders, as well as well-defined delivery contracts for strategic planning. Even macro perpetual contracts open the door to traditional assets.

Understanding the rules is the first step to beating the market. Hopefully, this panoramic view of Gate’s contract matrix will become a solid foundation on your crypto trading journey.