Mastering Perpetual DEXs: From Beginner to Pro Trader

Introduction

Decentralized perpetual exchanges represent one of the most innovative and rapidly growing sectors in cryptocurrency trading. These platforms combine the security and self-custody benefits of decentralized finance (DeFi) with the powerful leverage and trading features traditionally found only on centralized exchanges.

In this comprehensive guide, we’ll explore everything you need to know about decentralized perpetual trading platforms: how they work, the top platforms in 2025, how to start trading safely, and strategies to maximize your success while minimizing risks.

Whether you’re new to crypto derivatives or an experienced trader looking to transition from centralized exchanges, this guide will provide the knowledge and tools you need to navigate this exciting frontier confidently.

Table of Contents

1. Understanding Crypto Derivatives on Decentralized Exchanges
2. How Decentralized Perpetual Exchanges Work
3. Perpetual Swaps vs. Traditional Futures
4. Top Decentralized Perpetual Exchanges in 2025
5. Layer-2 Solutions: Making DEX Trading Accessible
6. Step-by-Step Guide to Start Trading
7. Funding Rates Explained
8. Liquidation Protection Strategies
9. Regulatory Landscape for Tier-1 Countries
10. Advanced Trading Strategies
11. Tax Implications of Crypto Derivatives Trading
12. Security Best Practices
13. Frequently Asked Questions

<a id=”understanding-crypto-derivatives”></a>Understanding Crypto Derivatives on Decentralized Exchanges

Crypto derivatives are financial instruments that derive their value from an underlying cryptocurrency asset. These instruments allow traders to speculate on price movements without necessarily owning the actual cryptocurrency.

Types of Crypto Derivatives

1. Perpetual Swaps (Perpetual Futures): Futures contracts with no expiration date
2. Traditional Futures: Contracts with specific expiration dates
3. Options: Contracts giving the right (but not obligation) to buy/sell at a predetermined price
4. Synthetic Assets: Tokenized derivatives that track the price of other assets

On decentralized exchanges, perpetual swaps have become the dominant form of derivatives trading due to their simplicity and continuous nature.

The Evolution of Decentralized Derivatives

The journey from centralized to decentralized derivatives trading has been remarkable:

• 2017-2019: First-generation DEXs with limited functionality and liquidity
• 2020-2021: Introduction of viable perpetual swap protocols with basic features
• 2022-2023: Integration with Layer-2 scaling solutions to reduce costs
• 2024-2025: Maturation with near-centralized exchange features and liquidity

Today’s decentralized perpetual exchanges offer trading experiences comparable to centralized platforms while maintaining the core principles of self-custody and transparency.

<a id=”how-decentralized-perpetual-exchanges-work”></a>How Decentralized Perpetual Exchanges Work

Decentralized perpetual exchanges operate using complex smart contract systems that enable permissionless trading of perpetual contracts. Let’s break down the core components:

Key Components

1. Smart Contracts: Self-executing code that manages order matching, position management, and liquidations
2. Price Oracles: External data feeds that provide reliable price information to the protocol
3. Liquidity Pools: Pools of assets that enable trading by providing counter-positions
4. Funding Rate Mechanism: System that keeps perpetual contract prices aligned with the underlying asset
5. Insurance Funds: Reserves that protect the protocol from negative balances during liquidations

Trading Mechanics

When you trade on a decentralized perpetual exchange:

1. You connect your wallet (e.g., MetaMask, Leap Wallet) to the platform
2. Deposit collateral (typically stablecoins or major cryptocurrencies)
3. Open long (betting price will rise) or short (betting price will fall) positions with leverage
4. Pay or receive funding rates periodically depending on market conditions
5. Close positions manually or face liquidation if prices move against you significantly

Settlement and Liquidations

Unlike centralized exchanges where internal systems handle liquidations, decentralized platforms use transparent, algorithmic approaches:

• Liquidation Thresholds: Typically more conservative (2.5-3.5% maintenance margin vs. 0.5-1% on CEXs)
• Liquidation Process: Positions are automatically closed when collateral falls below maintenance margin
• Liquidation Penalties: Fees charged during liquidation to incentivize healthy position management

<a id=”perpetual-swaps-vs-traditional-futures”></a>Perpetual Swaps vs. Traditional Futures

Understanding the differences between perpetual swaps and traditional futures is crucial for effective trading strategies:

FeaturePerpetual SwapsTraditional FuturesExpirationNo expiration dateFixed expiry datePrice AlignmentFunding rate mechanismNatural convergence at expirySettlementContinuousAt expirationMarket DepthGenerally higher liquidityFragmented across expiry datesUse CasesShort to mid-term positionsSpecific date-based strategies

The Funding Rate Advantage

The ingenious funding rate mechanism allows perpetual contracts to maintain price alignment with the underlying asset without an expiration date:

• When perpetual price > index price: Long positions pay shorts
• When perpetual price < index price: Short positions pay longs
• Payments typically occur every 1-8 hours (varies by platform)

This creates unique opportunities for funding rate arbitrage and strategic position timing.

<a id=”top-decentralized-perpetual-exchanges”></a>Top Decentralized Perpetual Exchanges in 2025

The landscape of decentralized perpetual exchanges has evolved significantly. Here are the leading platforms as of 2025:

1. dYdX

Overview: Operating on its own Cosmos-based blockchain, dYdX has established itself as the market leader in decentralized derivatives trading.

Key Features:

• Professional-grade trading interface
• Deep liquidity ($340M+ daily volume)
• Up to 20x leverage
• 0.05% taker / 0.02% maker fees
• Support for major cryptocurrency pairs

Best For: Experienced traders seeking a professional trading environment

Getting Started: Create an account on dYdX with our referral link for fee discounts.

2. Hyperliquid

Overview: Built on a purpose-specific blockchain, Hyperliquid offers the fastest execution times in decentralized trading.

Key Features:

• Lightning-fast 1-second trade confirmations
• Zero gas fees for order placement
• Up to 50x leverage on major pairs
• $66.5B weekly trading volume
• Support for a wide range of assets including meme coins

Best For: Speed-sensitive traders and high-frequency strategies

Getting Started: Sign up on Hyperliquid to experience the fastest DEX trading.

3. Bluefin

Overview: Trading on the Sui blockchain, Bluefin focuses on user-friendly features and beginner accessibility.

Key Features:

• Intuitive interface designed for newcomers
• Demo trading mode for risk-free practice
• One-click trading functionality
• Up to 20x leverage
• $37.5B+ cumulative volume

Best For: Beginners and those prioritizing ease of use

Getting Started: Join Bluefin and start with their demo trading feature.

4. GMX

Overview: A decentralized perpetual exchange focusing on low fees and multi-chain support.

Key Features:

• Available on Arbitrum and Avalanche
• Extremely low fees (<$0.01 on Arbitrum)
• Zero price impact for trades within the liquidity range
• Up to 30x leverage
• Real yield from trading fees for liquidity providers

Best For: Cost-conscious traders and those seeking multi-chain flexibility

Getting Started: Visit GMX to trade on their multi-chain platform.

5. Perpetual Protocol

Overview: A pioneer in the space now operating across multiple chains with cross-margin functionality.

Key Features:

• Cross-chain support (Optimism & Arbitrum)
• Cross-collateral trading options
• Virtual AMM design for optimized liquidity
• Up to 10x leverage
• Portfolio margining across positions

Best For: Traders seeking cross-chain and cross-collateral features

Getting Started: Try Perpetual Protocol for cross-chain derivatives trading.

<a id=”layer-2-solutions”></a>Layer-2 Solutions: Making DEX Trading Accessible

One of the most significant advancements in decentralized perpetual exchanges has been the integration with Layer-2 scaling solutions. These technologies have transformed the trading experience:

Benefits of Layer-2 for Derivatives Trading

1. Dramatically Lower Fees: Transactions that once cost $20-50 on Ethereum now cost pennies
2. Faster Confirmations: From minutes to seconds or even milliseconds
3. Increased Throughput: Handling thousands of transactions per second
4. Maintained Security: Inheriting the security of the base blockchain

Popular Layer-2 Solutions for Perpetual DEXs

SolutionTypeBenefitsNotable PlatformsArbitrumOptimistic RollupLow fees, Ethereum compatibilityGMX, Perpetual ProtocolOptimismOptimistic RollupEVM equivalence, low feesPerpetual ProtocolzkSyncZK RollupFast finality, privacy featuresVarious emerging platformsPurpose-Built ChainsCustomHighly optimized for tradingdYdX, Hyperliquid

Impact on Trading Experience

The combination of Layer-2 solutions and purpose-built chains has enabled:

• Trading with as little as $50 initial capital (previously impractical due to gas costs)
• Frequent position adjustments without excessive fees
• Viable short-term trading strategies previously impossible on-chain
• CEX-like speed with DEX-like security

<a id=”step-by-step-guide”></a>Step-by-Step Guide to Start Trading

Ready to begin trading on decentralized perpetual exchanges? Follow this comprehensive guide:

1. Prepare Your Wallet

Start by setting up a compatible wallet:

• MetaMask: The most widely supported option
• Leap Wallet: Excellent for Cosmos-based platforms like dYdX
• Sui Wallet: Required for Bluefin and other Sui-based DEXs

Ensure your wallet is secured with:

• Strong password
• Hardware wallet connection (recommended)
• Backup recovery phrase stored securely offline

2. Acquire Funds

You’ll need two types of assets:

• Network tokens for transaction fees (ETH, SUI, etc.)
• Collateral for trading (USDC, ETH, etc.)

For beginners, we recommend starting with stablecoins as collateral to avoid dual price risk.

3. Choose the Right Platform

Select a platform based on your needs:

• Beginners: Start with Bluefin for its demo mode and simple interface
• Experienced traders: dYdX offers the most comprehensive tools
• Speed-focused traders: Hyperliquid provides the fastest execution

4. Connect Your Wallet and Deposit Funds

1. Visit the platform’s website
2. Click “Connect Wallet” and select your wallet provider
3. Approve the connection request
4. Navigate to the deposit section
5. Select the asset and amount to deposit
6. Confirm the transaction in your wallet

5. Start with Paper Trading (When Available)

Platforms like Bluefin offer simulated trading environments:

1. Switch to “Demo Mode” or “Testnet”
2. Practice executing trades without real funds
3. Experiment with different position sizes and leverage levels
4. Learn the platform interface without risk

6. Place Your First Real Trade

When ready for live trading:

1. Select a trading pair (e.g., BTC-USDC)
2. Choose position type:
   • Long (profit when price rises)
   • Short (profit when price falls)
3. Set position size and leverage:
   • Start small (e.g., $50-100)
   • Use low leverage (1-5x) initially
4. Set order parameters:
   • Limit order (specific price)
   • Market order (immediate execution)
5. Implement risk management:
   • Set stop-loss orders
   • Consider take-profit levels
6. Confirm and execute

7. Monitor and Manage Your Position

After opening a position:

1. Monitor funding rates (positive = you pay, negative = you receive)
2. Watch liquidation price and maintain safe distance
3. Adjust stop-loss orders as market moves
4. Close position when strategy targets are met

<a id=”funding-rates-explained”></a>Funding Rates Explained

The funding rate mechanism is central to perpetual contracts. Understanding it can help you optimize trading strategies and even profit directly from funding payments.

How Funding Rates Work

Funding rates are periodic payments between long and short traders that keep the perpetual contract price aligned with the index (spot) price:

1. Calculation Formula: CopyFunding Rate = Premium Index + Clamp(Interest Rate - Premium Index) Where: Premium Index = (Mark Price - Index Price) / Index Price
2. Payment Schedule:
   • Most platforms: Every 8 hours
   • Hyperliquid: Every 1 hour
   • dYdX: Every 8 hours
3. Direction of Payment:
   • When funding rate is positive: Longs pay shorts
   • When funding rate is negative: Shorts pay longs

Strategic Trading Around Funding Rates

Experienced traders use funding rates to enhance profitability:

1. Funding Arbitrage: Opening opposing positions on different platforms to capture funding rate differentials
2. Position Timing: Opening positions before favorable funding and closing before unfavorable funding
3. Funding Harvesting: Taking positions specifically to collect funding payments during extreme market sentiment

Platform-Specific Considerations

Different platforms implement funding rates with subtle variations:

PlatformCalculation PeriodPayment FrequencyCaps/LimitsdYdX8 hours8 hours±0.75% maxHyperliquid1 hour1 hourDynamic limitsGMX1 hour1 hour±0.05% typical

<a id=”liquidation-protection”></a>Liquidation Protection Strategies

Liquidations are the biggest risk when trading with leverage. Here are comprehensive strategies to protect your positions:

Understanding Liquidation Mechanics

On decentralized perpetual exchanges, liquidation occurs when your position’s maintenance margin falls below the required threshold:

CopyMaintenance Margin = Position Size / Leverage × Maintenance Margin Rate

When your equity falls below this level, your position is automatically closed.

Platform-Specific Liquidation Thresholds

PlatformMaintenance Margin RateLiquidation ProcessdYdX3.0%Partial liquidation possibleHyperliquid2.8%Full liquidationBluefin3.5%Full liquidationGMX1.0%Full liquidation

Practical Protection Strategies

1. Use Conservative Leverage
   • Start with 2-5x leverage until experienced
   • Each doubling of leverage approximately halves your liquidation distance
2. Set Strategic Stop-Losses
   • Place stop-losses at 5-10% from entry for high leverage
   • Consider volatility when setting stops (higher volatility = wider stops)
3. Monitor Funding Rates
   • Excessive funding can erode your margin over time
   • Close or reduce positions during high funding periods against your position
4. Implement Collateral Management
   • Use stablecoins as collateral to avoid dual price risk
   • Maintain reserve funds for adding margin during volatility
5. Position Sizing
   • Never risk more than 1-5% of your portfolio on a single trade
   • Scale position sizes based on conviction and volatility
6. Use Isolated Margin When Available
   • Prevents cascading liquidations across positions
   • Allows precise risk allocation per trade

Liquidation Warning Signs

Watch for these signals that your position may be approaching liquidation:

• Margin ratio falling below 10%
• Market moving rapidly against your position
• Unusual volatility in your collateral asset
• High funding rates against your position direction

<a id=”regulatory-landscape”></a>Regulatory Landscape for Tier-1 Countries

The regulatory environment for decentralized perpetual exchanges varies significantly across Tier-1 jurisdictions. Understanding these differences is crucial for compliant trading.

United States

The U.S. maintains one of the more complex regulatory frameworks:

• Federal Level: No specific DEX regulations yet, but multiple agencies claim jurisdiction
• SEC Stance: Evaluates platforms on a case-by-case basis using the Howey Test
• CFTC Position: Claims authority over crypto derivatives as commodities
• Tax Treatment: IRS treats all crypto gains as taxable income or capital gains
• Platform Access: Many DEXs geofence U.S. IP addresses due to regulatory uncertainty

European Union

The EU has implemented a more comprehensive framework:

• MiCAR Framework: The Markets in Crypto-Assets Regulation excludes fully decentralized platforms
• Stablecoin Regulation: Increased transparency requirements for stablecoin issuers
• DeFi Approach: Self-custody platforms face fewer restrictions
• Tax Variations: Different treatment across member states
• Platform Access: Generally unrestricted for true DEXs

United Kingdom

The UK has taken a middle path:

• FCA Requirements: Exchanges with UK operations must register
• Non-Custodial Exception: Lower restrictions for platforms that don’t custody user funds
• Tax Clarity: Clear guidance for derivatives trading
• Platform Access: Most DEXs remain accessible to UK users

Asia-Pacific Tier-1 Nations

Significant variations exist across:

• Australia: Progressive approach with specific crypto licensing requirements
• Singapore: Clear regulatory framework through the Payment Services Act
• Japan: Strict regulations primarily focused on centralized exchanges
• Hong Kong: Increasingly restrictive approach affecting even DEXs

Compliance Best Practices

For traders in Tier-1 jurisdictions:

1. Verify platform geo-restrictions before depositing funds
2. Maintain detailed records of all trades for tax reporting
3. Consider consulting with a crypto-savvy tax professional
4. Stay informed about regulatory changes in your jurisdiction

<a id=”advanced-trading-strategies”></a>Advanced Trading Strategies

Once you’re comfortable with the basics, these advanced strategies can enhance your trading on decentralized perpetual exchanges:

1. Funding Rate Arbitrage

This strategy exploits funding rate differentials between platforms:

1. Identify a perpetual contract with significantly different funding rates across platforms
2. Open a long position on the platform with negative funding (you receive payment)
3. Open an equivalent short position on the platform with positive funding (you receive payment)
4. Collect funding payments from both sides while maintaining delta-neutral exposure

Example: If BTC-USDC has -0.01% hourly funding on Hyperliquid and +0.02% on dYdX, you could long on Hyperliquid and short on dYdX to collect both funding payments.

2. Basis Trading

Capitalize on price differences between spot and perpetual markets:

1. Identify price divergence between spot and perpetual markets
2. Buy the underpriced market and sell the overpriced market
3. Hold until prices converge
4. Consider funding rates in your profit calculation

Example: If BTC spot trades at $60,000 and BTC perpetual trades at $60,600 with a funding rate of 0.01%, you might short the perpetual and buy spot if the premium exceeds likely funding payments.

3. Volatility-Based Strategies

These approaches capitalize on market volatility conditions:

• Low Volatility Environments:
  • Range-bound trading between support/resistance
  • Funding harvest strategies
  • Larger position sizes with tighter stops
• High Volatility Environments:
  • Trend-following with trailing stops
  • Reduced position sizes
  • Wider stop-losses to accommodate swings

4. Multi-Collateral Optimization

Maximize capital efficiency by strategically selecting collateral:

1. Use yield-bearing stablecoins for low-volatility strategies
2. Consider using the same asset as your underlying for long positions (e.g., ETH as collateral for ETH longs)
3. Implement cross-collateral strategies on platforms that support it

5. Liquidation Hunting

Some traders specifically look for opportunities to benefit from others’ liquidations:

1. Identify price levels with significant liquidation clusters (visible on liquidation maps)
2. Place orders slightly beyond these levels
3. If the price reaches the liquidation zone, significant price movement may follow
4. Use tight stop-losses as these trades can quickly reverse

Note: This is a high-risk strategy that essentially bets on market inefficiencies during liquidation events.

<a id=”tax-implications”></a>Tax Implications of Crypto Derivatives Trading

Trading crypto derivatives carries specific tax considerations that vary by jurisdiction. Here’s what traders from Tier-1 countries should know:

United States

• Classification: Crypto derivatives typically treated as Section 1256 contracts
• Tax Rate: 60% long-term capital gains / 40% short-term capital gains treatment
• Reporting Requirements: Form 8949, Schedule D, and potentially Form 6781
• Mark-to-Market: Year-end unrealized gains/losses may be taxable
• Wash Sale Rules: Currently may not apply to crypto (subject to change)

European Union

Varies by member state, but generally:

• Capital Gains: Most countries tax as capital gains
• VAT Exemption: Crypto trading typically exempt from VAT
• Holding Period Impact: Some countries offer reduced rates for longer holdings
• Loss Carryforward: Often available but with limitations

United Kingdom

• Capital Gains Tax: Standard CGT rates apply (10% or 20% depending on income band)
• Annual Exemption: £12,300 tax-free allowance (as of 2025)
• Loss Offset: Can be used against other capital gains
• Detailed Record Requirements: HMRC requires comprehensive trading records

Tax Optimization Strategies

1. Keep Meticulous Records:
   • Trade date and time
   • Position details (size, leverage, direction)
   • Entry and exit prices
   • Fees paid
   • Funding payments received/paid
2. Consider Tax-Efficient Trading:
   • Realize losses in the same tax year as gains
   • Consider holding periods for jurisdictions with time-based benefits
   • Evaluate the tax impact of frequent vs. infrequent trading
3. Use Specialized Software:
   • Tax platforms like Koinly, CoinTracker, or TokenTax
   • Most support importing data from major perpetual DEXs
   • Ensure your chosen software correctly handles perpetual swaps
4. Consult Tax Professionals:
   • Work with accountants familiar with crypto derivatives
   • Consider tax planning before year-end
   • Stay informed about regulatory changes

Disclaimer: Tax regulations change frequently. Always consult with a qualified tax professional regarding your specific situation.

<a id=”security-best-practices”></a>Security Best Practices

Security is paramount when trading on decentralized platforms. Follow these comprehensive guidelines to protect your funds:

Wallet Security

1. Hardware Wallet Integration:
   • Use hardware wallets like Ledger or Trezor when possible
   • Keep firmware updated
   • Verify transactions on the device screen
2. Secure Key Management:
   • Store seed phrases offline (metal backup recommended)
   • Never share private keys or seed phrases
   • Consider multisig setups for large holdings
3. Operational Security:
   • Use a dedicated device for trading
   • Enable all available security features (biometrics, 2FA)
   • Be vigilant about phishing attempts

Platform Security Assessment

Before trading on any DEX, verify:

1. Smart Contract Audits:
   • Multiple audits by reputable firms
   • Bug bounty programs
   • Length of time in production without incidents
2. Oracle Security:
   • Multiple price feed sources
   • Manipulation resistance mechanisms
   • Failure handling procedures
3. Team and Governance:
   • Transparent team with proven track record
   • Clear governance processes
   • Active development and maintenance

Trading Security Practices

1. Start Small:
   • Test new platforms with minimal amounts
   • Gradually increase exposure as confidence grows
2. Regular Monitoring:
   • Check positions regularly, especially during volatility
   • Set up alerts for significant price movements
   • Monitor funding rates for unexpected changes
3. Diversification:
   • Spread risk across multiple platforms
   • Don’t concentrate all capital in a single position
   • Maintain some assets off-platform

Incident Response Plan

Know what to do if something goes wrong:

1. Compromised Wallet:
   • Transfer funds to a secure wallet immediately
   • Revoke permissions for compromised wallets
   • Report the incident to the platform
2. Platform Issues:
   • Document all transactions and communications
   • Engage with community governance when applicable
   • Understand dispute resolution processes
3. Recovery Strategies:
   • Keep backup access methods
   • Maintain detailed records of all positions
   • Know the support channels for each platform

<a id=”faqs”></a>Frequently Asked Questions

General Questions

Q: What is the minimum amount needed to start trading on decentralized perpetual exchanges?
A: While you can technically start with as little as $10-20, a practical minimum is around $50-100 to account for gas fees and to maintain a safe distance from liquidation thresholds.

Q: Are decentralized perpetual exchanges safe?
A: They eliminate counterparty risk but introduce smart contract risk. Top platforms with multiple audits, long operating histories, and bug bounties are generally considered safe, though no platform is entirely risk-free.

Q: Can I lose more than I deposit?
A: No. Unlike some traditional margin trading, losses are limited to your collateral. However, liquidation can happen quickly with high leverage.

Platform-Specific Questions

Q: Which platform is best for beginners?
A: Bluefin is currently the most beginner-friendly with its demo mode and simplified interface. dYdX also offers a clean interface but with more advanced features.

Q: Which platform offers the highest leverage?
A: Hyperliquid offers up to 50x leverage on major pairs, though we recommend starting with much lower leverage (2-5x) while learning.

Q: Do I need KYC verification to trade on these platforms?
A: Most true DEXs don’t require KYC verification, though some may implement IP-based geo-restrictions.

Technical Questions

Q: What happens if the blockchain becomes congested?
A: Layer-2 solutions and purpose-built chains largely mitigate this issue. However, extreme market conditions could still cause delays or higher fees.

Q: How do I interpret funding rates?
A: Positive rates mean longs pay shorts; negative rates mean shorts pay longs. Higher absolute values indicate stronger market sentiment in one direction.

Q: Can I provide liquidity instead of trading?
A: Yes, many platforms allow liquidity provision through various mechanisms, typically offering a share of trading fees as reward.

Regulatory Questions

Q: Are perpetual DEXs legal in the United States?
A: There’s no blanket prohibition, but regulatory uncertainty has led many platforms to geo-restrict US users. Always check platform terms of service.

Q: How do I handle tax reporting for perpetual swap trading?
A: Use specialized crypto tax software that supports derivatives trading data, maintain detailed records, and consider consulting with a crypto-savvy tax professional.

Q: What happens if regulations change?
A: Platforms might implement geo-restrictions, KYC requirements, or other compliance measures. Maintaining control of your own private keys ensures you can always access your funds.

Conclusion

Decentralized perpetual exchanges represent the convergence of DeFi principles and sophisticated trading instruments. They offer unprecedented access to leveraged trading without sacrificing custody of your assets.

The landscape continues to evolve rapidly, with innovations in Layer-2 scaling, cross-chain integration, and user experience making these platforms increasingly accessible to mainstream users.

Whether you’re looking to hedge existing crypto holdings, speculate on price movements, or capitalize on unique DeFi trading strategies, decentralized perpetual exchanges offer powerful tools to achieve your goals.

Remember to start small, use conservative leverage, implement strict risk management, and continuously educate yourself as you navigate this exciting frontier of decentralized finance.

Disclaimer: Trading cryptocurrency derivatives involves significant risk and may not be suitable for all investors. This article is for informational purposes only and does not constitute financial advice. Always conduct your own research and consider your financial situation before trading.

Last Updated: March 2025