What Is the Difference between a Perpetual Contract and a Swap?

A perpetual contract is a type of futures contract that has no expiration date. A swap is an agreement between two parties to exchange a series of cash flows over a period of time.

The main difference between a perpetual contract and a swap is that a perpetual contract is a standardized contract that is traded on an exchange, while a swap is a customized contract that is traded over-the-counter.