Venues
The delta-neutral vault needs two exchanges working at once, one for each side of the trade.
We are expanding to new venues.
| Venue | What it is |
|---|---|
| Hyperliquid (HL) | Onchain perpetuals exchange with its own order book |
| Lighter | Perpetuals exchange with a public order book |
| RISEx | Perpetuals exchange on RISE Chain |
| Arcus | Perpetuals exchange with capped markets |
| dYdX | Decentralised perpetuals exchange |
Which of these we are using at any given moment is not published, because it changes.
Why we run on several
Exchanges are the fastest-moving part of this business. One that pays well this quarter can change its rates, its rules or its market caps the next. So we spread the trading rather than betting on one.
Adding an exchange is our work, not yours. The way the vault trades does not change.
Naming an exchange here is not a promise that we will always use it.