Onchain Mechanics
Where crypto rails diverge from TradFi — perps, funding, oracles, and prediction markets.
Funding Rate
Perpetual futures never expire, so exchanges run periodic funding payments between longs and shorts to tether the perp price to spot. The funding rate is both a cost and a signal.
Prediction Market
A prediction market is a binary options market where prices from 0 to $1 represent the crowd's implied probability of an event. Onchain venues like Polymarket settle via optimistic oracles.