Over the past several cycles, it has become commonplace for traders to reference funding rates when claiming the market is overheated or under bought. Funding tables like the one above would often be posted on Twitter as influencers announced they were knife catching or local top selling.
dYdX is the only DEX that appears on these tables, with CEXs such as Binance, OKX, and Bybit acting as the focal point. As the decentralized perps ecosystem has continued to mature, it is now possible to create our very own funding table made up entirely of DEXs.
DEXs still make up only a small fraction of total perps volume, but it is pretty cool that we can do this now. This table can allow traders to monitor funding rate arbitrage opportunities and to more regularly incorporate DEXs into their trading lifestyle.
Let’s hope we see some of these circulating Twitter/X throughout the next cycle.