Farm Perp DEXs

The Perp DEX farming hub: the DEXs to farm now, strategies to max out your points and the current ranking.

Ranking of Perp DEXs to farm

  1. Entropy : Pas de points officiels, frais quasi nuls : la fenêtre la plus early.
    • Only markets with the io: prefix (io:ANTH, io:SNDK…) are Entropy’s: the other markets shown in the app come from other HIP-3 deployers.
    • Growth mode: fees divided by 10, about $3 per $100,000 in maker volume. Some farmers measure $26 to $36 per million.
    • Possible hedge on Lighter or Robinhood x Lighter, where ANTH and SNDK also exist according to farmers: two programs with the same capital.
    • No official points: regular activity with maker orders, held positions, several io: markets.
  2. Arcus : Points live. Perps sur liste d’attente : peu de farmers, c’est maintenant que les points sont les moins chers.
    • Points live. Criteria by order of importance: trading (the more fees you pay, the more points you earn), market making, deposits kept on Arcus, referrals.
    • 3 boosts: trade stocks and RWA pairs, trade outside US market hours (evenings and weekends), swap and hold spot tokens in Robinhood Wallet.
    • Favor pairs with not-too-high open interest to boost your points.
    • Current delta-neutral setup: long and short SanDisk between Arcus and Entropy, side chosen according to funding.
    • Passive technique: turn your spot bags into 1x perps (ETH, Nvidia, gold) to earn points while holding.
    • Perps pas encore ouverts au public : rejoins la liste d’attente, récupère un code d’invitation gratuit partagé sur notre X ou fais du volume en spot.
  3. TitanX : Encore sur liste d’attente. Inscription gratuite, sans gas, sans garantie d’airdrop.
    • Join the waitlist: a simple wallet signature, no transaction or gas fees.
    • Share your own referral link: it’s provided as soon as you sign up.
    • Never sign a transaction to “join”: the official sign-up only asks for a signature.
    • Nothing to trade for now: no fees, no market risk, just your spot.
  4. TxFlow : Très récent, pas de points publics. Avantage early possible, rien de confirmé.
  5. Robinhood x Lighter : Pool de 11 M$ en LIT pour les trades perps, points 2x via Robinhood Wallet.
    • 2x points via Robinhood Wallet (1x on the Lighter app).
    • Often-cited combo: long or short here, opposite leg on Variational, to stack two programs.
  6. Extended : Pas encore de token : un airdrop est possible, sans aucune garantie.
    • 0% maker fees: build your volume with post-only limit orders to farm almost fee-free.
    • Good leg for a delta-neutral hedge against another DEX with a points program.
  7. Variational : Meilleur projet sans token, mais TGE proche : moins rentable pour un nouvel entrant.
    • Works via RFQ: no maker orders possible.
    • Strategy going around (unofficial): organic, profitable trades, low open interest pairs (XRP, BNB, SOL), holding for about 24 h.
    • Widely used as a hedge leg, for example with Robinhood x Lighter.
  8. Lighter : LIT déjà distribué, pas de Season 3 annoncée.
    • 0% maker fees on the Standard account, but according to a farmer Lighter may not reward volume: favor delta-neutral on funding.
    • Liquidation fee of about 1% of the position size: keep leverage low.
    • Points retroactively removed after Season 2 for sybil behavior: one account only, no wash trading.
  9. Hyperliquid : HYPE distribué en novembre 2024, pas de 2e vague confirmée.
  10. Pacifica : Pas de token, mais points depuis septembre 2025 : plus vraiment early.

Guides and strategies

  • Delta-neutral between two Perp DEXs : A long on one Perp DEX, a short of the same size on another: the foundation of farming strategies. Choosing your two legs, setting leverage, watching liquidation and ADL, with a worked example.
  • Boost your points on Arcus and Entropy: the SanDisk delta-neutral : Our best play right now: a SanDisk long and short of the same size, one leg on Arcus, the other on Entropy. You farm both programs without being exposed to the price. The step-by-step, the costs and the traps.
  • Farming Arcus: the complete guide : The points system of Arcus, the dYdX team's DEX on Robinhood Chain, is live. The criteria, the 3 boosts, the SanDisk delta-neutral with Entropy and our passive technique: turning your spot bags into 1x perps.
  • Farming Entropy: the complete guide : Pre-IPO, stock and index perps on Hyperliquid: signing up, depositing, placing your first maker orders and positioning early on Entropy, with the real fees and the risks specific to these markets.
  • Building volume with maker orders : On a Perp DEX, volume mostly costs fees. With post-only limit orders, by hand or with a bot, it costs far less than with market orders. Method, costs per platform and limits.
  • Margin and Liquidation: Isolated vs Cross : Initial margin, maintenance margin, liquidation price calculation, isolated or cross margin, ADL and insurance funds: how to avoid liquidation on perps.
  • Perps: Leverage, Funding and Mark Price : Perpetual contracts, leverage, funding rates, mark price, index price and open interest: understand how perps work and what can go wrong.
  • Matching the points scoring instead of spamming volume : Each Perp DEX weights its points in its own way. Low open interest pairs, holding time, PnL, multipliers and multi-farming: what often counts, and how to work out a program's scoring.
  • TitanX: joining the waitlist (early access) : Titan, the private, compliant 24/7 exchange on Canton Network, hasn't launched yet: only the waitlist is open. How to sign up in two minutes, with no gas, and what we really know about the project.
  • Tread: looping volume with the market-maker bot : Tread's market-maker bot places maker orders on both sides of the book to generate volume on Extended, Hyperliquid or Pacifica. Settings, the real cost of $100,000 of volume and the risks.
  • VOOI: opening a delta-neutral in one click : VOOI Ultra's Arbitrage Desk compares funding and prices across Perp DEXs, then opens both legs of a delta-neutral in a single action. How to use it, fees, farming combinations and limits.