> For the complete documentation index, see [llms.txt](https://guide.dem.exchange/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://guide.dem.exchange/community/permissionless-listings/permissionless-market-creation/perpetuals.md).

# Perpetuals

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

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

## **Create a New Perpetuals 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/uDqMnGOxExMipwtOqh8J" alt=""><figcaption></figcaption></figure>

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

<figure><img src="/files/wcVa0BoaSGyw9R8xNx0N" alt=""><figcaption></figcaption></figure>

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

<figure><img src="/files/NBM7RpS9m8VgTmNseRMn" 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/XZoFF8jiwfSPdVbSaAyf" alt=""><figcaption></figcaption></figure>

{% hint style="info" %}
In a perpetuals contract, the underlying token is the cryptocurrency being traded at a given price, without an expiry date.\
\
For example, when trading ETH perpetuals, ETH is the underlying token. If the perpetual contract is settled in USD, USD is the settlement token.
{% endhint %}

**Step 5**: Ensure that the details are correct, then click on the "Create" button.

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

**Step 6**: Perpetual 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
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