# Futures

The following instructions illustrate how to create futures markets on [Demex](https://app.dem.exchange/).

{% hint style="info" %}
Learn more about Futures [here](https://guide.carbon.network/features/derivatives#dated-futures).
{% endhint %}

## **Create a New Futures Market**

**Step 1:** To get to the 'Create Market' feature, go to the [Markets](https://app.dem.exchange/markets) page on Demex and select the 'Create Market' option.

<figure><img src="/files/1aygisTkDVKic0jbRsJw" alt=""><figcaption></figcaption></figure>

**Step 2:** Select 'Futures' under 'Market Type'.

<figure><img src="/files/4cP8d4UFdaGSuBtwdmWq" alt=""><figcaption></figcaption></figure>

**Step 3**: Select the Price Oracle accordingly.

<figure><img src="/files/on49w2cj1zVRcZvUR3Yu" alt=""><figcaption></figcaption></figure>

{% hint style="info" %}
To (i) Learn more about oracles and (ii) View the full list of oracles supported, click [here](https://guide.carbon.network/features/derivatives/oracles).
{% endhint %}

**Step 4**: Choose the Underlying Token and Settlement Token accordingly. The current base and quote token price will be automatically derived from the price oracle chosen.&#x20;

<figure><img src="/files/ikRlNvIAHYW3oznCWM5X" alt=""><figcaption></figcaption></figure>

{% hint style="info" %}
In a futures contract, the underlying token is the cryptocurrency being traded at a given price, at a specific date in the future (expiry time). The contract will then be settled in the specified settlement token at the expiry time. \
\
For example, when trading ETH futures, ETH is the underlying token. If the futures contract is settled in USD, USD is the settlement token
{% endhint %}

**Step 5**: Input the expiry time.&#x20;

<figure><img src="/files/6auHkWNOeG6SrYgEhQkc" alt=""><figcaption></figcaption></figure>

**Step 6**: Ensure that the details are correct, then click on the 'Create' button.

<figure><img src="/files/GcNM2kq1FN5xoO2FXVqe" alt=""><figcaption></figcaption></figure>

**Step 7**: Futures market successfully created!

{% hint style="success" %}
That's it! Your market has been permissionlessly created. You can now start trading on the market.
{% endhint %}


---

# Agent Instructions: Querying This Documentation

If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question.

Perform an HTTP GET request on the current page URL with the `ask` query parameter:

```
GET https://guide.dem.exchange/community/permissionless-listings/permissionless-market-creation/futures.md?ask=<question>
```

The question should be specific, self-contained, and written in natural language.
The response will contain a direct answer to the question and relevant excerpts and sources from the documentation.

Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.