Perpetual futures, often called perps, differ from traditional derivatives in one important way. They never expire and never settle through delivery of the underlying asset. That design raises a basic question for traders. If perps are purely synthetic contracts, what prevents their prices from drifting far away from spot markets. During a recent interview with TheStreet Roundtable discussion, Ondo Finance's head of DeFi, Matt Blumberg, explained that perps stay in line with spot prices because traders a ...