Long
Long position: Going long, or taking a long position, means buying a crypto asset because you expect its price to rise. A long gains value when the price goes up and loses value when it falls. Simply buying and holding bitcoin is a long position, and traders can also go long with futures.
Going long on spot vs futures
A spot long is the simplest form: you buy the coin, own it outright and can hold it as long as you like. The most you can lose is what you paid. A futures long gives you exposure to the price without owning the coin, using margin and often leverage, and funding payments may apply on perpetual futures.
Long vs short
A long gains when the price rises and a short gains when the price falls. On perpetual futures, when funding is positive, longs pay shorts, and when it is negative, shorts pay longs. This keeps the contract price close to the spot price.
The risk of leveraged longs
With leverage, a small fall can use up your margin and trigger liquidation, even if the price recovers later. That is why many long term investors stick to spot holdings they own outright.
Frequently asked questions
Is buying and holding crypto a long position?
Yes. Buying a coin and holding it is a long position with no leverage and no expiry date.
Can a long position be liquidated?
A spot long cannot. A leveraged futures long can be closed automatically if the price falls far enough to use up your margin.