Markets · Commodities
Commodity perpetual futures
Commodity perpetual futures track physically settled futures without the delivery. GC-PERP follows COMEX gold, where one contract is 100 troy ounces and a $0.10 tick is worth $10. CL-PERP follows NYMEX WTI crude oil, where one contract is 1,000 barrels and a $0.01 tick is worth $10.
In dollars: a $10 move in gold is $1,000 per contract, and a $1 move in crude is $1,000 per contract. Those are the exchanges' own contract sizes, so prices and risk line up with the futures quotes you already know.
The perpetual removes expiry, first notice and the monthly roll, so a position runs until you close it. Each entry is priced with a fixed upfront basis rather than funding payments, and outside the exchange's hours the contract keeps trading and re-anchors to the official price when the market reopens.
Gold tends to move with real interest rates, the U.S. dollar and demand for safe havens. Crude oil moves with supply decisions from OPEC+, the weekly U.S. inventory report and events in the producing regions.
- 50x
- Max leverage
- None
- Expiry
- NYMEX, COMEX
- Underlying markets
- None
- Funding payments
Commodities contract specs
Prices are delayed daily closes of the underlying markets, latest session Nov 14, 2026. Click a contract for its specs.
Crude Oil (WTI)CL-PERPNYMEX$88.56−9.60%−9.60%50x
- Contract
- CL-PERP
- Underlying
- WTI Crude Oil futures
- Underlying market
- NYMEX
- Contract size
- 1,000 barrels
- Tick size
- 0.01
- Tick value
- $10.00
- Minimum size
- 1 contract
- Max leverage
- 50x
- Expiry
- None (perpetual)
- Funding payments
- None: fixed upfront basis at entry
- Trading on Graybook
- 24/7, re-anchored to the official price at each open
- Underlying hours
- COMEX gold and NYMEX crude trade Sunday to Friday, 6:00 p.m. to 5:00 p.m. New York time, with a one-hour daily break.
About one month, daily closes (delayed)
−9.60%GoldGC-PERPCOMEX$3,886.30−6.81%−6.81%50x
- Contract
- GC-PERP
- Underlying
- Gold futures
- Underlying market
- COMEX
- Contract size
- 100 troy ounces
- Tick size
- 0.1
- Tick value
- $10.00
- Minimum size
- 1 contract
- Max leverage
- 50x
- Expiry
- None (perpetual)
- Funding payments
- None: fixed upfront basis at entry
- Trading on Graybook
- 24/7, re-anchored to the official price at each open
- Underlying hours
- COMEX gold and NYMEX crude trade Sunday to Friday, 6:00 p.m. to 5:00 p.m. New York time, with a one-hour daily break.
About one month, daily closes (delayed)
−6.81%COMEX gold and NYMEX crude trade Sunday to Friday, 6:00 p.m. to 5:00 p.m. New York time, with a one-hour daily break. Graybook trades the perpetuals 24/7.
Commodity perpetual futures: questions
What is a commodity perpetual future?
A contract on a commodity future that never expires, so there is no delivery and no roll. On Graybook it follows the exchange's contract, with the same size and tick.
What is one tick worth on gold and crude?
$10 per contract for both: gold moves in $0.10 ticks on 100 ounces, and WTI crude in $0.01 ticks on 1,000 barrels.
Is there a delivery or roll date?
No. The perpetual has no expiry, so there is no first notice day, no delivery and nothing to roll.