Inverse futures
A contract priced in one currency while collateral and profit are counted in the underlying asset.
How to read the number
The design lets a trader deal in a pair without holding the quote currency: the result arises directly in the asset they already own.
When the metric lies
The payoff is not linear in the price: equal moves up and down produce unequal results, and the difference shows up exactly on sharp moves.
Also known as: coin-margined futures