What is the XBTUSD Perpetual Contract? Details of the XBTUSD perpetual contract can be found here. The XBTUSD Perpetual Swap vs. Crypto Margin TradingCrypto margin trading or trading spot with leverage is a popular way to trade Bitcoin. In comparison, the XBTUSD perpetual contract is long over short, and requires no USD or Bitcoin to change hands. The XBTUSD Perpetual Swap vs. Crypto Futures TradingSimilarities certainly exist between the XBTUSD perpetual contract and crypto futures trading.