The Perp DEX market surpassed $44B in daily volume at its March 2026 peak, with Hyperliquid controlling ~44% of market share. StandX is not competing at that level. And that's intentional. Its positioning is built around a different axis: capital efficiency. With a capital efficiency score of 31.72, StandX already ranked above most competitors in capital utilization. But recently, a key metric shifted — Open Interest surpassing $123M, with growth accelerating rather than linear. This is no lo...

The Perp DEX market surpassed $44B in daily volume at its March 2026 peak, with Hyperliquid controlling ~44% of market share. StandX is not competing at that level. And that's intentional. Its positioning is built around a different axis: capital efficiency. With a capital efficiency score of 31.72, StandX already ranked above most competitors in capital utilization. But recently, a key metric shifted — Open Interest surpassing $123M, with growth accelerating rather than linear. This is no lo...

The way you measure returns as a trader is probably wrong. Not because your math is off — but because you are only counting one of three return channels. The other two have been running silently, the entire time. How Traders Think About Returns Ask any trader how their week went and they will tell you about their trades. Up on ETH, down on BTC, scratched a position on funding. They are describing directional PnL — the return that comes from being right about price. That is the only channel mo...

The way you measure returns as a trader is probably wrong. Not because your math is off — but because you are only counting one of three return channels. The other two have been running silently, the entire time. How Traders Think About Returns Ask any trader how their week went and they will tell you about their trades. Up on ETH, down on BTC, scratched a position on funding. They are describing directional PnL — the return that comes from being right about price. That is the only channel mo...

Every perps trader pays or receives funding rate. Few stop to understand what that number means beyond the immediate cost. That's the difference between using the rate as a strategic reference or simply absorbing it as an expense.What Funding Rate Is — Without the FluffFunding rate is a payment exchanged directly between holders of long and short positions. It's not a fee charged by StandX. When the rate is positive, longs pay shorts. When negative, shorts pay longs. The purpose is to keep th...

Every perps trader pays or receives funding rate. Few stop to understand what that number means beyond the immediate cost. That's the difference between using the rate as a strategic reference or simply absorbing it as an expense.What Funding Rate Is — Without the FluffFunding rate is a payment exchanged directly between holders of long and short positions. It's not a fee charged by StandX. When the rate is positive, longs pay shorts. When negative, shorts pay longs. The purpose is to keep th...

The perp DEX market is less than ten years old. In that time, four distinct generations of platforms emerged. Each one had a different answer to a specific problem. Understanding that progression means understanding why each platform was designed the way it was — and why some decisions that seem obvious today were only possible because earlier generations made them possible. This article documents that progression. Each generation is treated by the problem it came to solve, not just the techn...

The perp DEX market is less than ten years old. In that time, four distinct generations of platforms emerged. Each one had a different answer to a specific problem. Understanding that progression means understanding why each platform was designed the way it was — and why some decisions that seem obvious today were only possible because earlier generations made them possible. This article documents that progression. Each generation is treated by the problem it came to solve, not just the techn...

There are projects that talk about capital efficiency. And there are projects that practice it in a way you feel before you can explain it. This article is about the difference between the two — and about what happens when a protocol is genuinely building something new from the inside out.There Is Something Different HereI've been following StandX closely since September 2025. I traded on the platform, wrote about it, watched it evolve. And there is one thing that keeps impressing me — not a ...

There are projects that talk about capital efficiency. And there are projects that practice it in a way you feel before you can explain it. This article is about the difference between the two — and about what happens when a protocol is genuinely building something new from the inside out.There Is Something Different HereI've been following StandX closely since September 2025. I traded on the platform, wrote about it, watched it evolve. And there is one thing that keeps impressing me — not a ...

TP/SL is one of the most used features on the platform and one of the least understood. Not because it's complicated — but because it has two specific behaviors that most traders discover the hard way: after losing a position that shouldn't have been closed.What TP/SL Does — and What It Doesn't GuaranteeTake Profit and Stop Loss are trigger orders. When the market reaches the price you defined, the system automatically fires a closing order. Simple in description. Less simple in execution. St...

TP/SL is one of the most used features on the platform and one of the least understood. Not because it's complicated — but because it has two specific behaviors that most traders discover the hard way: after losing a position that shouldn't have been closed.What TP/SL Does — and What It Doesn't GuaranteeTake Profit and Stop Loss are trigger orders. When the market reaches the price you defined, the system automatically fires a closing order. Simple in description. Less simple in execution. St...

When SIP-1 was announced, the narrative was institutional. Large trades. High-volume traders. Market-impact-free execution for positions worth hundreds of BTC. Fair enough. But it missed something: any trader on StandX can use Block Trade right now. And the decisions you need to make to use it well are simpler than they seem.What Block Trade Is, in One SentenceYou publish a trading intent on-chain. Counterparties fill it. StandX validates the risk and settles. None of those steps touch the or...

When SIP-1 was announced, the narrative was institutional. Large trades. High-volume traders. Market-impact-free execution for positions worth hundreds of BTC. Fair enough. But it missed something: any trader on StandX can use Block Trade right now. And the decisions you need to make to use it well are simpler than they seem.What Block Trade Is, in One SentenceYou publish a trading intent on-chain. Counterparties fill it. StandX validates the risk and settles. None of those steps touch the or...