There are mainly 3 points
1) It is a future contract
2) Leverage/Loan is taken from exchange (but it is interest free)
3) Funding Fees (Most people confuse here, This funding fees is a variable interest which is not paid to exchange which have lent us money. Instead it is paid to the other traders/peers which are in minority. eg if buyers are in majority they pay this fees to the sellers and vice versa. It is done to keep the balance in the market. This fees is not the interest charged against the money which was given to us by the exchange.
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Sayyed Mohammad Al-Musawi,
Sayyed Mohammad al-Musawi is originally from Iraq and heads up the World Ahlul Bayt Islamic League in London. Other than being involved in various humanitarian projects, he frequently responds to religious questions. In the past, he has also spent significant time in India guiding the community. 4499 Answers
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Yes it is permissible according to the Maraaje; who allow cryptocurrencies dealings provided that it does not break the law of land and it does not harm others.
Wassalam.