# 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="https://3548599389-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F-MO-XZjWplLUJPNs07G8%2Fuploads%2Fs8errMeLw90wCKDQlDlD%2Fimage.png?alt=media&#x26;token=d394cb15-b24e-4a0c-ba14-c838b95911c7" alt=""><figcaption></figcaption></figure>

**Step 2:** Select 'Perpetual' 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%2FsVhJJTdCq61AOsHyGhIM%2Fimage.png?alt=media&#x26;token=f0aace6c-3aab-42cd-898d-e4a7deaebf56" 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%2F1bFSOXG4JBBXRtQ8R3Tm%2Fimage.png?alt=media&#x26;token=e79e202b-ded3-47d8-ae30-aa66f11f8394" 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%2FLBQLQ7tJj5Om5gh9eGDh%2Fimage.png?alt=media&#x26;token=fbffcd57-c0e4-4ed6-8933-37fbb11aae5c" 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="https://3548599389-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F-MO-XZjWplLUJPNs07G8%2Fuploads%2FY9qxCiRhcYW1wIIQzADi%2Fimage.png?alt=media&#x26;token=06f433d0-d998-4ae9-b15f-f75048eb890d" 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 %}