> ## Documentation Index
> Fetch the complete documentation index at: https://docs.roxom.com/llms.txt
> Use this file to discover all available pages before exploring further.

# What are Futures and how do they work on Roxom?

> Introduction to BTC-denominated perpetual futures contracts on Roxom.

Futures on Roxom let you speculate on the price of real-world assets using Bitcoin. No fiat, no expiration dates, just BTC-denominated perpetual contracts.

***

## What are Futures?

A futures contract is a financial instrument that lets you trade on the **price movement of another asset**, without owning that asset directly.

In Roxom, these are **perpetual futures contracts**, meaning:

* They don't expire
* You can go long (buy) or short (sell)
* You trade contracts whose prices follow assets like Gold or the S\&P 500 **through their tokenized or ETF underlyings** (e.g., PAXG for Gold, SPY for S\&P 500)
* Everything is **quoted, margined and settled in BTC**

<Info>
  You're not buying the asset. You're trading on its price in Bitcoin. **Want the full technical details?** Check the [Perpetual Futures Contract](https://docs.roxom.com/rulebook/key-contract-specs-shared/bitcoin-denomination-and-contracts) section in our Rulebook.
</Info>

***

## Example: What does GOLD/BTC mean?

Let's say gold is trading at \$3,000 per ounce and Bitcoin is trading at \$100,000.

The GOLD/BTC contract might be priced around **0.03 BTC**, meaning **1 ounce of gold is worth 0.03 BTC**.

* If you think the gold price (in BTC terms) will go up, you can buy (go long)
* If you think it'll go down, you can sell (go short)

When the price moves, your **PnL is in BTC**, not in USD.

***

## What makes Roxom futures different?

* **BTC-denominated**: All trading, margin, and settlement is in Bitcoin
* **Perpetuals**: No expiration or rollover. Positions stay open as long as you want
* **Real-world assets**: Trade gold, oil, and major equity indices, all using BTC
* **24/7 trading**: Some contracts (like GOLD/BTC) are always open
* **Isolated margin**: Each position is independent. One loss won't wipe out your account

***

## What do I need to start?

You need BTC to trade. You can deposit BTC directly, or deposit USDC/USDT and sell them for BTC on the platform.

1. Deposit **BTC**, **USDC**, or **USDT** into your **Funding Account**
2. Transfer funds to your **Unified Trading Account (UTA)**
3. If you transferred USDC or USDT, sell them for BTC using [One-Click Trade (Swap)](/help-center/one-click-trade/what-is-one-click-trade-what-assets-are-available)
4. Pick a contract, choose your leverage, and open a position

<Info>
  **Learn more about how accounts work** in [Understanding your Roxom accounts](/help-center/account-basics/understanding-your-roxom-accounts). For how margin and leverage work, see [How margin works on Roxom](/help-center/account-basics/how-margin-works).
</Info>

***

## Where can I find the list of contracts?

Roxom currently offers the following BTC-denominated perpetual futures:

* **[GOLD/BTC](/rulebook/our-contracts-offering-and-specs/gold-btc)**: PAX Gold (PAXG) token as underlying
* **[US500/BTC](/rulebook/our-contracts-offering-and-specs/us500-btc)**: S\&P 500 ETF (SPY) as underlying
* **[OIL/BTC](/rulebook/our-contracts-offering-and-specs/oil-btc)**: WTI Light Sweet Crude Oil as underlying
* **[USDT/BTC](/rulebook/our-contracts-offering-and-specs/usdt-btc)**: Tether (USDT) as underlying

<Info>
  **See the full contract list and specifications** in our [Rulebook](/rulebook/our-contracts-offering-and-specs/gold-btc). The platform UI is the source of truth for the latest list of available markets.
</Info>

<Warning>
  **Risk notice**: Futures trading involves significant risk. You can lose more than your initial margin. Make sure you understand how leverage and liquidation work before trading.
</Warning>

***

<Warning>
  This content is for informational purposes only and does not constitute investment advice. Trading digital assets involves significant risk, including the potential loss of your entire investment. Please review our [Risk Notice](/legal/risk-notice) before trading.
</Warning>

## Need help?

Still have questions? You can speak to **Roxy**, our AI support assistant, available 24/7 in the chat bubble at the bottom right of your screen.

You can also contact our support team directly at [help@roxom.com](mailto:help@roxom.com).

***

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