Perp-DEX points programs, venue by venue
updated 2026-08-27 · sources dated in text · costs measured on /evidence
We trade nine perpetual DEXes from one game, so we track every venue's incentive program as a matter of operations, not marketing. This page is the operator's view: what each program pays, in its own published terms — and what a million dollars of farmed volume actually costs there, measured from the venues' own books by our research fleet.
How do Lighter points work on Robinhood Chain?
Lighter's Robinhood Chain program — now framed as Season 2 — accrues points in real time on eligible activity with an additional weekly drop every Friday (the first landed August 21, 2026). Coverage of the launch cites a pool of roughly $11M in LIT allocated to the Robinhood community, and trading through Robinhood Wallet pays 2× points. Fees on the venue are zero for standard accounts, which is why our measured cost of farming it is dominated by spread alone — BTC's book there costs ~$10–15 per $1M crossed, and resting costs nothing.
Does Arcus have a token or points program?
Arcus has a confirmed future token with an allocation reserved for the dYdX community; mechanics, supply and dates are unannounced. Perps access is waitlisted, and early access has prioritized traders with perp volume on dYdX, Hyperliquid and Lighter — being active early is the positioning. What we can measure today: maker fees are zero from the base tier, its BTC book is the tightest we track anywhere (0.013bps on our last full-board sweep), and orders start at $5 — the cheapest resting lane on our whole board while the pre-token window is open.
What does Perpl pay for trading volume?
Perpl runs launch-season points with boosted markets — MON and SOL have carried a +200% multiplier in our integration window — plus a referral program (10% first-degree). Closes are free; maker opens run ~0.9bps. Points here are launch-season: earlier volume weighs more than late volume in almost every program of this shape.
Is Ondo Perps running an airdrop campaign?
Ondo's perp venue launched with Ondo Points attached — TradFi equity and commodity perps with tokenized-stock collateral. It is the easiest venue to integrate against (session auth, no signing library), and its flat fee schedule makes cost predictable rather than cheapest.
How does Phoenix Flight Club score activity?
Flight Club scores both activity and held size — "size and conviction", not just churn. That shape rewards holding real positions between trades, which is exactly what a hedged or passenger-held book does naturally.
Which other perp DEXes reward volume right now?
Hyperliquid volume feeds its ecosystem (and HIP-3 markets like XYZ100 count on two ledgers at once). Hotstuff runs builder season points and pays a ~5× maker rebate on growth pairs — resting there can earn rather than cost. Extended is in its builder-code era with TradFi markets (gold, S&P, FX). Paradex runs XP with a zero-fee retail lane. Each program's live cost sits on our evidence board, measured from the books themselves.
What does farming all of this actually cost?
Almost every program above pays on volume, and almost nobody tells you what volume costs. We publish it: live spreads and all-in cost per $1M for every route we trade, on the evidence board, and our fleet's six-hour market-making studies publish themselves in full on fleet reports. On the cheapest lanes, farming has measured under $15 per $1M — and sometimes the ledger comes back green.
farm them by playing →Program details change; venues own their rules and numbers, and nothing here is a promise of any airdrop's value. Sources: Lighter docs (points-program, Robinhood Chain points) and launch coverage of the Robinhood Wallet 2× campaign; dYdX's "A New Arc" and Arcus coverage by The Defiant, The Block and Cointelegraph, August 2026. Cost figures are our own live measurements.