# 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="https://3548599389-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F-MO-XZjWplLUJPNs07G8%2Fuploads%2FwtYfkeQhzt83UcY5pOQl%2Fimage.png?alt=media&#x26;token=08edae91-4db8-424c-8778-5307063df87e" alt=""><figcaption></figcaption></figure>

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

<figure><img src="https://3548599389-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F-MO-XZjWplLUJPNs07G8%2Fuploads%2FESCncXuC29OTXFYijBl7%2Fimage.png?alt=media&#x26;token=872f1e4a-4cc1-46a6-bc55-4921e69b05a4" alt=""><figcaption></figcaption></figure>

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

<figure><img src="https://3548599389-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F-MO-XZjWplLUJPNs07G8%2Fuploads%2FSR1YZDr3bhDF0OkfPYFE%2Fimage.png?alt=media&#x26;token=a3665da3-2e48-4c70-a88c-7501b90b51d6" 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="https://3548599389-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F-MO-XZjWplLUJPNs07G8%2Fuploads%2FHtevUj762rYBmnvkTPru%2Fimage.png?alt=media&#x26;token=1a156690-6744-42c2-8593-64d86dc828ac" 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="https://3548599389-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F-MO-XZjWplLUJPNs07G8%2Fuploads%2FmBugHuhbFGCawMeh4e4L%2Fimage.png?alt=media&#x26;token=83577570-640f-4784-be9c-c8e68ae68d8f" alt=""><figcaption></figcaption></figure>

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

<figure><img src="https://3548599389-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F-MO-XZjWplLUJPNs07G8%2Fuploads%2FvltdEfk40bKszFweQUHw%2Fimage.png?alt=media&#x26;token=390822bb-7a0e-400c-9e42-46eed3e62375" 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 %}