Tribe Perpetual is a decentralized exchange (DEX) specializing in perpetual futures trading. It’s built on an Ethereum Layer-2 (L2) solution, leveraging Arbitrum for lower transaction costs and faster execution. Its platform supports leveraged positions (long/short) on various assets, allowing traders to speculate on price moves.

The system uses on-chain smart contracts to manage collateral, margin, and liquidations. There are mechanisms defined for funding rates, which help keep the perpetual futures price in line with the underlying spot price.