> For the complete documentation index, see [llms.txt](https://docs.pure.cash/pure.cash/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.pure.cash/pure.cash/longonly/longonly-overview.md). # LongOnly Overview LongOnly is an innovative zero-funding-rate perpetual contract protocol developed by Pure.cash. It is designed to revolutionize the cost structure for traders holding long positions. With zero funding rates, they can open and hold leveraged positions just like holding spot assets. ## Key Features ### Zero Funding Rate LongOnly eliminates the funding fees typically incurred by long positions, making it significantly more cost-effective for bullish traders. The zero funding rate mechanism is a key innovation that sets LongOnly apart from other perpetual contract products. Traditionally, perpetual contracts implement funding rates to keep contract prices aligned with the spot prices. These rates are typically positive, resulting in costs for long position holders. LongOnly's zero funding rate mechanism allows users to hold leveraged long positions without any holding costs, just like holding spot assets. This feature attracts both traditional long-position traders and those who generally leverage through lending markets. ### Built on Ethereum Fully on-chain, leveraging Ethereum’s robust security and vast ecosystem for trustworthy trading --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://docs.pure.cash/pure.cash/longonly/longonly-overview.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.