2026-01-03 08:21:42

After getting exposure to HL and Lighter, I'm curious what perpetual trading platforms might be worth exploring next for yield farming.

Here's what I've already tested:
- edgeX Exchange
- Pacifica Finance
- Extended App
- GRVT
- Variational
- Ostium Labs

Honestly though, the low-hanging fruit seems to be disappearing fast. Anyone spotting fresh opportunities in the perpetuals farming space, or are we in the phase where returns keep getting squeezed?

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

15 Likes

Reward
15
8
Repost
Share

Comment

0/400

faded_wojak.eth

· 01-06 08:01

Already tested so much, and you're still looking? I think, the real gold mine has already been snatched up by big players, and what's left now are just those coming to follow along.

View OriginalReply0

OnchainDetective

· 01-06 03:48

According to on-chain data, the fund flow patterns of these platforms are quite interesting... The line from edgeX to GRVT shows that wallet address activity is clearly declining, and the trading counterparties on Variational are even more suspicious. Through tracking and analysis, the low returns are not due to fierce competition, but rather liquidity being slowly drained—obvious fund connections point to those major whales.

View OriginalReply0

RamenStacker

· 01-04 13:18

NGL, you've played all these and are still asking, which shows there's really no new tricks left. Right now, perpetuals farming is just waiting to be squeezed into a trap.

View OriginalReply0

CodeSmellHunter

· 01-03 08:48

The days of low-risk arbitrage are really over; now those entering the market are here to buy the dip... But on the other hand, how's the liquidity on GRVT?

View OriginalReply0

HypotheticalLiquidator

· 01-03 08:48

The platforms on your list I have all observed, and to be honest, the health factors are generally declining. Lending rates have long since fallen back from historical highs. Low-risk liquidity mining is no longer available, and now it's all about dancing with systemic risks.

View OriginalReply0

AltcoinTherapist

· 01-03 08:48

APY numbers look good on low-liquidity small platforms, but when it comes to withdrawals, you'll realize what "paper wealth" really means... My advice is to stop digging into perpetuals and those fringe projects; now they are basically the manipulators' cash machines.

View OriginalReply0

YieldWhisperer

· 01-03 08:41

ngl, you've hit the wall where actually the math doesn't check out anymore. watched tvl on half these inflate artificially, then watched it evaporate. classic death spiral pattern, seen it before in 2021... different branding, same tokenomics disaster waiting to happen

Reply0

RektButAlive

· 01-03 08:28

Honestly, I've played on these platforms already. What are you asking for? Right now, the perpetuals market is definitely shrinking, so don't expect any miracle deals.

View OriginalReply0