The first great thing about trading perpetual contracts is that you can trade with high leverage levels at a low cost, as compared to trading in the spot market. This is because spot markets have a limited supply of coins, whereas perpetual markets do not. What this means is that potential profits are much higher when trading perpetual contracts.
Secondly, perpetual contracts do not require traders to buy or sell the real asset. Therefore, they can simply trade against the price movement of the underlying asset using less funds than in a spot or futures market.
Additionally, perpetual contracts have no expiry date. Traders do not need to go through the hassle of rolling over these contracts if they decide to hold on to their positions for a longer period of time. They can hold on to their positions indefinitely, as long as they are not liquidated.
Lastly, traders of perpetual contracts can potentially earn more side profits through the funding rate, where longs or shorts provide funding to each other based on the deviation of the perpetual price against the index.