Annanay Kapila – Perpetual Futures Everywhere and All the Time (S7E24)

Corey Hoffstein chats with Annanay Kapila about perpetual futures and their impact on traditional markets. Annanay shares insights from proprietary trading firms and discusses resistance from market intermediaries. They explore the design and applicability of perpetual futures, continuous trading, risk management, and funding rates. The episode also covers regulatory challenges, leverage implications, and corporate actions.

Speakers

AI Chat

Corey Hoffstein

Host • 22%

Annanay Kapila

Guest • 77%

Unidentified

Chapters

0:00	Introduction to perpetual futures and guest background
1:43	Perpetual futures vs. traditional market structure
3:57	Experiences in proprietary trading firms
5:19	Market intermediation and perpetual futures resistance
10:03	Characteristics and comparisons of perpetual futures
17:17	Applicability of perpetual futures in various markets
19:33	Introduction and objectives of QFX
21:25	Continuous markets and 24/7 trading debate
24:33	Weekend trading and perpetual contracts design
31:21	Price bands and liquidation risks management
39:23	Liquidation engine and insurance fund mechanisms
40:32	Funding rates and interest rate clamping considerations
45:14	Corporate actions impact on perpetual contracts
49:21	Equity market price bands and liquidity analysis
53:56	Tokenized equities and perpetual swaps comparison
57:26	Regulatory challenges and continuous funding
59:54	Leverage implications and liquidation cascade concerns
1:00:36	Annanay's engagement on Twitter and public interest in quant
1:03:18	Special market limits and content quality on social media
1:04:26	Annanay's personal interests: DJing and hobby insights
1:05:20	Prospects for equity perpetual swaps and episode wrap-up

Transcript

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