KuCoin Futures currently offers two types of products:USDT-Margined Futures: Also known as forward contracts, settled in USDT or USDC. For example, in the BTC Perpetual/USDT futures, BTC is the base currency (the currency being traded), and USDT is the settlement currency (used to buy the futures and calculate position PNL).Coin-Margined Futures: Also known as inverse contracts, settled in cryptocurrencies. For example, the BTC-margined (BTC Perpetual-USD) future has BTC as both the base and settlement currency. Modified at 2025-09-26 10:03:05