perp

adj

1. Clipping of perpendicular.

   “a perp window”

noun

Etymology: Clipping of perpetual futures or perpetual bond.

1. A perpetual bond.
2. Perpetual futures.

   “Autopsies carried out since then [Oct 2025 crypto crash] suggest that much of the damage can be traced to investors having piled into financial products known as perpetual futures. So-called perps allow traders to make highly leveraged bets, up to 100-to-1 on some crypto exchanges, to boost their returns on market moves.”