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

# How is spot trading different from trading perpetual futures (perps)?

Spot leaves you holding the token with direct exposure to the underlying, no leverage, and no ongoing obligations.

In contrast, a perpetual future is a leveraged, margined position with funding and liquidation risk, used to go long or short on the price of the underlying asset.

In brief - spot trading is for holding an asset; perps are for trading its price with leverage. Arcus offers both.