Perp-DEX points programs, venue by venue
updated 2026-08-27 · sources dated in text · costs measured on /evidence
We trade sixteen 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.
Does Polymarket Perps pay for liquidity?
Yes, in cash rather than points: $75,000 a day of liquidity rewards, split evenly across active markets and paid daily in pUSD to accounts that keep two-sided quotes within 20bps of mid (tighter quotes weigh more, uptime counts, and you need at least 1% of a market's trailing maker volume). Resting orders earn without filling, which is exactly what our Passenger grid does. Fees are 1.25bps maker / 4bps taker, funding is hourly, and there is a 20% referral share of fees. Not available to US or Canadian persons; no token or points.
Do Kalshi Perps pay points?
No — Kalshi is a regulated US exchange with no token or points program; what it offers is a deep, honest BTC book (about $123M a day, one tick wide), interest on idle margin, and funding every eight hours. Fees at the entry tier are 5bps maker / 12bps taker per the docs' own examples (a launch promotion has been reported to zero them; your account's real tier is read once you paste a key). US members only; contracts are priced per 0.0001 BTC.
What does RISEx pay for trading volume?
RISEx runs Season 1: Ignite (from 20 July 2026): 200K points a week split by qualifying activity — volume on both sides, fees paid, hold time, open interest — with the exact weights unpublished, plus 10% of referees' points. Notably, 100% of RISE points go to RISEx users, builder-code integrators included. Fees are 1bp maker / 3bps taker at tier 1 on a fully on-chain order book that lists gold, silver, oil and US stocks next to crypto. Mainnet is invite-gated.
What does Nado pay for trading volume?
Nado, built by the Vertex team on Kraken's Ink L2, runs Season 2 points: a weekly pool that scales with protocol volume (300K floor, 950K cap), shared by trading activity with adjustments for fee tier and toxicity, plus a referral program and a maker-rebate fee ladder. It lists US stocks, FX and gold next to crypto perps. Base fees are 1bp maker / 3.5bps taker with a $100 minimum order; the trade key it links can only ever withdraw to your own wallet, which is why our always-on desk can hold it.
What does N1 pay for trading volume?
N1 (the exchange formerly called 01) runs Season 1 points: a weekly pool of 75M points over 26 weeks, allocated on volume with maker volume counting, plus a permanent 10% referral. Fees at the base tier are 1bp maker / 3.5bps taker, so the cost of farming it is the maker fee itself (about $100 per $1M resting) rather than spread — its BTC book is one tick wide. One USDC deposit on Solana creates the account; a single Phantom signature starts a trading session.
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.