Learn crypto trading

What coins, tokens, blockchains, wallets and exchanges are, in plain English.

• What Is Cryptocurrency? A Clear Definition and How It WorksCryptocurrency is digital money secured by cryptography and recorded on a blockchain. Learn how it works, the main types, and the risks.
• What Is a Coin in Crypto? Definition and ExamplesA crypto coin is the native asset of its own blockchain, like BTC on Bitcoin or ETH on Ethereum. Learn what makes a coin a coin and how it differs from a token.
• What Is a Crypto Token? Definition, Types and Coin vs TokenA crypto token is a digital asset created by a smart contract on an existing blockchain. Learn the main token types, standards and how tokens differ from coins.
• What Is a Stablecoin? USDT, USDC and Depeg Risk ExplainedA stablecoin is a crypto token built to hold a steady value, usually $1. Learn how USDT, USDC and other stablecoins work, the main types and what depeg risk is.
• CEX vs DEX: Centralized vs Decentralized Crypto ExchangesA CEX is run by a company that holds your funds; a DEX runs on smart contracts and you keep custody. Compare fees, liquidity, risks and how perp DEXs work.
• What Is Bitcoin? How BTC Works, Supply and Halvings ExplainedBitcoin is a decentralized digital currency with a fixed 21 million supply, secured by proof-of-work mining. Learn how it works, halvings and how BTC trades.

Orders, spreads, liquidity, margin, leverage and the costs behind every trade.

• What Is Liquidation in Crypto? How Liquidation Price WorksLiquidation is when an exchange force-closes a leveraged position because margin no longer covers losses. Learn how liquidation price works and how to avoid it.
• What Is Slippage in Crypto? Slippage vs Price Impact ExplainedSlippage is the gap between the price you expect and the price you get. Learn how order books and AMM pools cause price impact, with examples and fixes.
• Maker vs Taker Fees: How Crypto Exchange Trading Fees WorkMaker fees apply to orders that add liquidity, taker fees to orders that take it. Learn the difference, how fee tiers work and how fees affect arbitrage profit.
• APR vs APY in Crypto: What Is the Difference and How to ConvertAPR is a simple annual rate, while APY includes compounding. Learn the formulas, how often crypto yields compound and how to compare funding rates fairly.
• What Is Leverage in Crypto? Margin, Risk and LiquidationLeverage lets you open a crypto position larger than your margin. Learn how leverage and margin work, cross vs isolated margin and how it sets liquidation risk.
• What Is an Order Book? Bid, Ask, Spread and Depth ExplainedAn order book is the live list of buy and sell orders for a market. Learn to read bids, asks, the spread and depth, and how order books affect your fill price.

How perpetual futures, funding rates, premiums and basis work.

• What Is a Funding Rate in Crypto? Perpetual Futures ExplainedA funding rate is a periodic payment between longs and shorts that keeps perpetual futures close to spot. Learn how it is calculated, paid and read.
• What Are Perpetual Futures? How Crypto Perps Work ExplainedPerpetual futures are crypto derivatives with no expiry date that track spot through funding payments. Learn how perps work, how PnL and funding are calculated.
• What Is Basis in Crypto? Futures and Perp Basis ExplainedBasis is the gap between a crypto futures price and the spot price. Learn how to calculate and annualize basis, contango vs backwardation and the perp premium.
• Mark Price vs Index Price vs Last Price in Crypto FuturesMark price, index price and last price are the three prices on a perpetual futures contract. Learn what each measures and why liquidations use the mark price.
• Futures vs Perpetual Futures: What Is the Difference in Crypto?Dated futures expire on a set date and converge to spot at settlement. Perpetual futures never expire and use funding payments to track spot. Compare both here.
• What Are Contango and Backwardation? Crypto Futures CurvesContango is when futures trade above spot; backwardation is when they trade below it. Learn what causes each in crypto and how to read the futures curve.

Price, funding and carry strategies, step by step, with their risks.

• What Is Crypto Arbitrage? Types, Examples and Real CostsCrypto arbitrage profits from price or funding rate gaps for one asset across venues. Learn the main types, worked examples and the costs behind net profit.
• What Is Delta-Neutral Trading? Crypto Hedging ExplainedDelta-neutral trading combines offsetting positions so price moves cancel out. Learn how delta works in crypto, common strategies, a worked example and risks.
• What Is a Cash-and-Carry Trade? Crypto Basis Trade GuideA cash-and-carry trade buys spot crypto and shorts futures or perps to earn basis or funding with little price exposure. See how it works, returns and risks.
• What Is Funding Rate Arbitrage? A Step-by-Step GuideFunding rate arbitrage shorts a perp where funding is high and goes long where it is low to earn the gap. Learn sizing, collateral, exits and net returns.
• What Is Spot Arbitrage? Cross-Exchange Crypto Price GapsSpot arbitrage is buying a coin on one exchange and selling it on another where the price is higher. Learn inventory vs transfer methods, fees and an example.
• What Is Triangular Arbitrage? A Worked Three-Pair ExampleTriangular arbitrage trades three pairs on one exchange, such as USDT to BTC to ETH and back, to profit from mispriced cross rates. See an example with fees.