Quote Originally Posted by bitpicker View Post
As with all perfective verbs, the future conjugation is identical to the present tense conjugation of the imperfective verb. So while "бегаю" means "I am running (around)", "побегаю" means "I will run a little". Likewise, убегаю = "I will run away". The future tense with буду plus infinitive and so on only applies to imperfective verbs.
"убегаю" means "I'm running away" (and "running" here implies the action going on at the moment of saying), "I'll run away" would be "убегу". "убегать/убежать" is the respective Imperfective/Perfective pair.

A slight correction: "убегаю" can also mean "I run away" in the sense of something like "I run away from there every morning".