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What are perpetual futures? The definitive on-chain trading guide
Perpetual futures are the most traded instrument in crypto — yet most traders have a fuzzy grasp of the mechanics. This guide covers funding rates, mark price, liquidation, leverage, and how on-chain perps differ from CEX trading.
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How funding rates work in perpetual futures (and how to trade around them)
Funding rates tell you more than what a position costs to hold. They signal where the market is positioned, how crowded a trade is, and — in the right setup — how to generate carry income with no directional exposure. Here's how to actually use them.
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Best DEX for perpetual futures trading in 2026: full comparison
DEX perpetual futures volume crossed USD 1 trillion per month in early 2026. But not every perp DEX is built the same way. This full comparison covers Hyperliquid, dYdX, GMX, Drift, Jupiter Perps, ApeX Omni, Vertex Protocol, and AsterDEX — architecture, fees, liquidity, and who each platform is actually for.
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Leverage trading on a DEX: how to use it safely and avoid liquidation
Many traders who get liquidated on a DEX weren't wrong about direction - they were wrong about size. Here's how leverage mechanics, margin modes, and on-chain liquidation actually work, with real numbers.
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What is open interest in crypto? How to read OI on perp DEXs
Open interest is a direct count of committed capital in the market — not a sentiment score, not a volume figure. If you trade perp futures on a DEX and ignore OI, you are missing the clearest signal the market gives you about conviction, positioning, and cascade risk.
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DEX order books vs AMMs: which is better for active traders
AMMs made permissionless token swaps possible. Order books made professional trading possible. If you are placing directional trades, managing size, or trading perp futures, here is a straight breakdown of why those two things are not the same — and which model actually wins for active traders.
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How crypto perpetual futures differ from traditional futures contracts
Traditional futures expire. Perpetual futures don't. That single structural difference changes settlement mechanics, holding costs, counterparty risk, and every strategy built on top. Here's a precise breakdown of how each instrument works — and where on-chain perps differ from both.
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What is a liquidation engine? How DEXs handle forced closures
A liquidation engine monitors leveraged positions, calculates margin ratios in real time, and closes positions that breach the maintenance threshold. Here is how CEX and DEX engines differ — and how Hyperliquid handles forced closures specifically.
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