> For the complete documentation index, see [llms.txt](https://www.size.club/docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://www.size.club/docs/compare/perp-trading.md).

# Size vs perpetual trading

Compare a Size trading game with managing a perpetual futures position: outcomes, collateral, and game prizes.

Perpetual trading gives you an ongoing derivatives position whose value changes with the market. Size gives you a trading game with a virtual balance and a result determined by the accepted game rules.

They can share long and short decisions while serving different purposes.

## What changes?

|                 | Size game                                            | Perpetual trading                                                                  |
| --------------- | ---------------------------------------------------- | ---------------------------------------------------------------------------------- |
| What you enter  | A defined game                                       | A derivatives position                                                             |
| Trading balance | Virtual game balance                                 | Collateral supporting a market position                                            |
| Outcome         | Game score, rank, and accepted result conditions     | Realized P\&L after execution costs and applicable funding                         |
| Time            | A game has stages and an end                         | Perpetuals have no scheduled contract expiry; positions can close or be liquidated |
| Money at risk   | A paid entry can be lost; practice has no paid entry | Losses depend on position, margin mode, and venue rules                            |
| Reward          | A selected cash prize or funded account in paid play | P\&L from the position, rather than a game prize                                   |

## Choose perpetual trading when…

You want to express a market view or hedge exposure by managing a real position. You will need to understand the venue's margin, liquidation, execution, and funding rules.

Hyperliquid, for example, documents perpetuals without an expiration date and funding payments that help keep them aligned with underlying prices. Its liquidation rules use maintenance requirements and mark prices. Other venues can differ.

## Choose Size when…

You want to play a trading game with a defined session and outcome. You can start with free practice. In paid play, check the entry, prize, and rules before starting.

## Is the Size payout multiplier leverage?

It describes the prize calculation, not a perpetual position's exposure. In the published total-return example, a $10 entry at 2× pays $20 on a win, including the entry and before additional charges. A losing entry receives no prize. The multiplier is not a win probability.

## Start with the game

[Try free practice](https://www.size.club/docs/start/first-game). Read [Entry and cash prizes](https://www.size.club/docs/cash-games/entry-and-prizes) before paid play.

### Sources

Reviewed 22 October 2026. [Size entry and prizes](https://www.size.club/docs/cash-games/entry-and-prizes); Hyperliquid [contract specifications](https://hyperliquid.gitbook.io/hyperliquid-docs/trading/contract-specifications), [funding](https://hyperliquid.gitbook.io/hyperliquid-docs/trading/funding), and [liquidations](https://hyperliquid.gitbook.io/hyperliquid-docs/trading/liquidations). Hyperliquid is an example, not a claim that all venues share identical terms.


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