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| Perpetual Protocol 
| #PERP
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| PERP Price: | $0.61 | | Volume: | $5.9 M | | All Time High: | $24.65 | | Market Cap: | $69.4 M |
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| Circulating Supply: | 113,381,929 |
| Exchanges: | 25
| | Total Supply: | 150,000,000 |
| Markets: | 34
| | Max Supply: | — |
| Pairs: | 39
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The price of #PERP today is $0.61 USD.
The lowest PERP price for this period was $0, the highest was $0.612, and the exact current price of one PERP crypto coin is $0.61225.
The all-time high PERP coin price was $24.65.
Use our custom price calculator to see the hypothetical price of PERP with market cap of ETH or other crypto coins. |
The code for Perpetual Protocol is #PERP.
Perpetual Protocol is 3 years old. |
The current market capitalization for Perpetual Protocol is $69,418,271.
Perpetual Protocol is ranked #236 out of all coins, by market cap (and other factors). |
There is a big daily trading volume on #PERP.
Today's 24-hour trading volume across all exchanges for Perpetual Protocol is $5,910,684. |
| The circulating supply of PERP is 113,381,929 coins, which is 76% of the total coin supply. |
Data Deep Dive into the Hot Tub Vaults
It’s been almost one month since Hot Tub was launched. In this article, we’ll go over how anyone can track the performance of the on-chain strategy underlying the Hot Tub vaults! — Charting Hot Tub’s Performance with Dune - The official Hot Tub dashboard is hosted on Dune Analytics, providing all the information you need to know about the Hot Tub vaults. From here, you can check out an explainer article of how the strategy works, visit the Hot Tub vaults’ pages, as well as view data related to each vault’s share price APR, share price and deposits and withdrawals. The official Hot Tub dashboard tracks important information for the ETH vault. The first chart shows that Hot Tubbers are enjoying an APR of around 20% on their ETH holdings, reaching a peak of 32% APR during volatile market conditions. The table gives a more detailed breakdown of the ETH vault’s balance and returns generated each day. Finally, the net deposits chart tells us that no one has ever left the ETH vault! Now for some alpha! Although no one has ever withdrawn from the ETH vault, we’ll be raising the cap on April 20th to 120 WETH!Want to earn a stable and sustainable yield on your ETH? Sign up to our waitlist here to be in for a chance to become a part of the next wave of deposits. Let’s look at the stats for the USDC vault, which is also covered by the official dashboard. The first chart shows the evolution of the USDC vault’s... 
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Perpetual Protocol Newsletter — Issue #54
Perpetual Protocol Newsletter — Issue #54 - Hey everyone, Ethereum upgraded with Shapella last week and crypto markets sprung to life. Are we on the cusp of a new bullish phase? Whatever happens, we keep on BUIDLing regardless! Check out our product updates below as well as other Perp related news. — 🛠️ Product - 1. Curie v2.6.0 Deployed A new contract release was deployed on April 12th, which introduced the mark price update and also included improvements to Perp’s fallback oracles. Learn more about the mark price here and check the contract code changes for yourself on GitHub. 2. Hot Tub Optimizations The Hot Tub contracts were updated, mainly to optimize contract code and mitigate a security risk reported by a community member. Work is also ongoing to optimize the strategies to deliver the highest return possible for depositors! 3. New Hot Tub Vaults! New Hot Tub vaults are currently in the research phase. More details will be shared in the upcoming weeks! 👀 — 🤝 Community & Partnerships - 1. Meet the Perp team at ETH Taipei ETH Taipei is set to take place this week between April 21st and 25th. Book a last minute ticket and get a 40% discount through our exclusive link with the following code PERP-ETHTAIPEI (applicable on the Optimism and Polygon network). 2. Community Support Educators Proposal Passes Temp Check A temperature check for funding community support educators for 6 mont...
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The Ultimate Guide for Understanding Ethereum’s Shapella Upgrade
In this article, we provide an explanation of the Shapella upgrade, its significance as well as the implications for ETH and the wider crypto market. Ethereum embarked on a journey towards a full Proof of Stake (PoS) in December 2020 with the launch of the Beacon chain, progressed a step further with a successful Merge in September 2022 and will be completed at or around April 12th, 22:27 UTC at slot 6209536 with the activation of Shapella. There’ll be no change to the user experience, the protocol changes are only relevant to solo stakers and validators. — Shapella Overview - What’s all the fuss about? Shapella is an important upgrade for 3 reasons: It’s the last piece of the puzzle that marks the completion of Ethereum’s transition to PoS. Staking is no longer a one-way street and stakers will finally be able to partially or fully withdraw their funds from the Beacon chain., It reduces uncertainty and risks around staking, thereby improving confidence in the Ethereum ecosystem. The staking ratio is likely to increase from the current level of around 15% and ascend to levels seen in other PoS blockchains (above 35%)., The upgrade is likely to encourage more institutional investors to get involved, given the activation of withdrawals from the Beacon chain. By completing its journey to a full PoS system, ETH becomes a yield-bearing asset similar to a bond., Since the launch of the Beacon chain in 2020 up unt...
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GrantsDAO Quarterly Update: Q1 2023
The grants program was funded with 2M USD in PERP that is allocated to funding protocols building on Perpetual Protocol. This program started in August 2021 and is running successfully to this day. We are constantly on the lookout for amazing projects that want to grow the Perp ecosystem, including trading infrastructure, LP’ing and market-making research, structured products, vaults, etc. We welcome all crazy ideas that we’d never have thought of! — Update on Current Grantees 🎯 - — Teahouse. — Teahouse launched the Perpetual Protocol LP strategy vault in January 2023 and it has been consistently profitable. So far, it has rewarded its investors with over 12% APR and attracted $93k in AUM. Flexible Wealth Management at Teahouse Teahouse’s Perpetual Protocol LP Strategy uses various inputs including volatility to dynamically adjust the LP ranges and hedge positions to maximise trading fees earned while keeping IL contained. This results in a strategy that is market-proof, and can perform well even in bearish markets, as long as there are still trades being made. Besides the normal trading fees received, this strategy also profits from the $OP and $PERP rewards from Perp. Bolstering their already-impressive APY, these weekly rewards are immediately sold into $USDC upon receipt and put back into the fund for distribution to the ShareToken holders. — TradingView Connector. — A free and n...
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How to Hedge Against IL with Volatility Futures
In this guide, we’ll show you how you can hedge against impermanent loss when providing liquidity to Perp’s Bitcoin market using Deribit’s newly launched volatility futures product. Makers (AKA liquidity providers) on Perp can earn trading fees and liquidity mining rewards. However, as the price moves away from your entry point and traders consume the liquidity you provide, you face impermanent loss (or IL for short). But there are ways to hedge described in the article below. How to Mitigate Impermanent Loss as a Maker on Perp v2 Alternatively, watch the video version of this article below: medium.com Since makers are effectively shorting volatility (defined as rapid and unpredictable changes in the price of an asset), the best hedge is a strategy that generates a profit when there’s an increase (rather than a decrease) in volatility. The article and video linked above describe how to long volatility to hedge the liquidity position. The TL;DR is that makers can use one of two options strategies: straddles or strangles. The payoff curve for the maker is adjusted as a result and when there’s volatility, the gains from the straddle or strangle helps manage the IL. Payoff of a maker when using a straddle options strategy as a hedge. While both strategies help to mitigate IL, there are some complexities involved in setting up these options positions: you have to find appropriate strike prices and the premiums may ma...
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Perpetual Protocol Newsletter — Issue #53
Perpetual Protocol Newsletter — Issue #53 - Hey everyone, As we step into April, the next conferences are around the corner. Meet the Perp team at ETH Tokyo and our home-base Taipei! In the first quarter of the year we launched our first set of arbitrage vaults aka Hot Tub. Get an update on how it’s going and what else we’ve been up to below. — 🛠️Product - 1. Hot Tub Update In just two days after launch, the ETH vault reached its capacity, currently earning a (7-day) APR of 31.6% 🔥 The USDC vault still has a few limited spots available with an all-time APR of 9.16%, act fast before it fills up! To switch between the 7-day or all-time APR, just click on APR on the Hot Tub page. As a reminder, Hot Tub vaults are currently exclusive to whitelisted wallets. Sign up here to get on the waitlist for early access. 2. Perp’s vPools Volume Did you know that 7 out of the top 10 Uniswap pairs by volume on Optimism are Perp’s virtual token pools? Try it out and trade 18 different markets with up to 10x leverage on Perpetual Protocol. 3. Pre-Mark Price Update We have deployed an update in preparation of the new Mark Price system and to reduce the risk of price manipulation by limiting the types of trades possible if the market price is outside a set price band relative to the index. The TL;DR: If the market price diverges from the index price by +/-10% or more, only trades that move the market price toward...
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The Top 6 Mobile Wallets for Trading On Perp
Mobile wallets provide a convenient way to trade cryptocurrencies, no matter where you are or what you’re doing. Having access to the markets through your mobile device means you can capitalize on opportunities while you’re on the move. There are many mobile wallets that enable you to trade crypto whenever and wherever you want. But with so many different options, you may now know where to start. That’s why we’ve compiled this list of the top 6 mobile wallets for trading on Perp. Read on to discover which are the best apps to use for trading without having to sit in front of your laptop! — 1. MetaMask - MetaMask is one of the most popular and recognisable wallets. But compared to some of the other options in our list, MetaMask is quite basic in functionality. While you can set a custom RPC, the downsides are that it has no in-app browser (so you have to use your mobile’s browser app instead) and there are no unique security or utility features. — 2. Coinbase Wallet - Coinbase Wallet is a slick mobile application where you can HODL crypto and NFTs, as well as access DeFi applications like Perp. You can use the wallet’s built-in browser to trade on Perp and there’s also a bookmark feature so you can pin your favorite DApps. Also, if you already have a Coinbase account, then you can link it with the wallet to easily purchase crypto. Another feature of interest is the ability to set a passcode for op...
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How to Automate Arbitrage Alpha with Hot Tub Vaults
The Hot Tub vaults are now open! Access arbitrage alpha with a set-and-forget trading strategy that generates returns in ETH and USDC. In this guide, we’re going to show you how to automate arbitrage alpha with a walkthrough of the Hot Tub vaults. To learn more about the strategy powering the Hot Tub, check out this explainer👇 Hot Tub Strategy Explained — How to Join the Hot Tub - To turn up the heat on your crypto game with Hot Tub, you first have to get your address whitelisted so it can interact with the vault’s contracts. At launch, there is an initial cap of $100K for each vault, but will be increased over time as the strategy is improved and refined.Don’t worry if you haven’t been whitelisted yet, as we’ll open up more spots soon! If you sign up here now, you’ll have a better chance of joining the second wave of Hot Tubbers. Eligible users will be contacted via email to let them know they have access to the Hot Tub. Once your whitelist status has been confirmed, go to the Hot Tub page and connect your wallet. Note that the only wallets supported at launch are Coinbase, MetaMask and WalletConnect-enabled ones. Select your preferred wallet type and once you have connected, you’ll see the last 4 characters of your wallet address on the top right-hand side of the page. The main Hot Tub page shows a description of both vaults, the 7-day APR percentage and the deposits as a percentage of the vault...
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What is Open Interest?
Open interest is one technical tool traders can use in combination with price action, fundamental, or sentiment indicators to find opportunities to go long or short, as well as to gauge when a trend may be ending. This guide will explain what open interest is and illustrate how you can use this technical tool to find trading setups. — Open Interest Explained - Open interest (or OI for short) is defined as the total number of open derivative contracts (such as perpetual futures) that have not been settled yet, calculated as the sum of contracts that have been bought and sold. OI differs from trading volume, as the latter refers to the quantity of contracts traded during a particular period. Traders can use OI to gauge interest in a particular market or an asset’s trend: When OI is rising, it tells us that more traders are interested in a particular market, and there’s new money flowing in to go long or short., When OI is falling, it tells us that traders are becoming less interested in a particular market and money is flowing out, i.e., longs or shorts are being closed., By combining OI with trend analysis, we can make some generalizations that give us an idea of how to trade a particular market (illustrated in the table below). In the following sections, we’ll show you several techniques to track OI and how you can apply it to your trading. — Coinalyze - Coinalyze is a platform for derivatives data dis...
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Perpetual Protocol Newsletter — Issue #52
Perpetual Protocol Newsletter — Issue #52 - Hey everyone, Our Hot Tub arbitrage vaults are live! We are thrilled to announce the launch of Perp’s first Hot Tub vaults, democratizing alpha through an automated arbitrage strategy. Read on below to find out more. — 🛠️ Product - 1. Hot Tub Vaults are Live! We’re thrilled to announce the launch of Hot Tub — our first arbitrage vaults that generate a sustainable yield with relatively low risk. Deposits are now open for all whitelisted users. Already on the whitelist? Go ahead and deposit on the Hot Tub page. Not yet on the whitelist? Explore the vaults and sign up to become a Hot Tubber. 2. Increase of USDT Collateral Ratio The USDT collateral ratio has been increased to 100%, on par with USDC. Note that fees, funding and PnL are still payable in USDC. Happy trading! 3. Mark Price Update The mark price update scheduled for March 14th has been delayed. Thanks to the help from a community auditor, we will add system limits for cases where market and index price diverge more than a certain amount to ensure maximum security for our users. Keep an eye out for further updates before the deployment. — 🤝 Community & Partnerships - 1. Meet the Team at ETH Taipei The first ever ETH Taipei is fast approaching! Get a 40% discount if you book tickets through our exclusive link. Share your flight info with us to get the Discount code (applicable on t...
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 | PERP Spikes 90%, Perpetual Protocol Foundation Sends Tokens To Binance: ...
PERP, the native token of Perpetual Protocol, is one of the top-performing assets, looking at price action in the past 48 hours. As of September 6, the token is changing hands at $0.78, adding roughly 90% from August 2023 highs.
Amid this stellar performance, reports reveal that the Perpetual Protocol Foundation has transferred 903,000 PERP worth approximately $691,000 to Binance, the world's largest cryptocurrency exchange by trading volumes and client count.
PERP Ripping Higher After Dumping In Q2 2023
According to Lookonchain, a blockchain analytic platform, the wallet associated with the foundation has been regularly moving tokens to Binance in the past few months, starting from March. At that time, PERP was trading at a relatively higher price, at around $1, looking at trackers like CoinMarketCap. Since then, however, the token has been on a downtrend.
To illustrate, after peaking at about $1.22 in early March, PERP tanked by over 65% to $0.38 in June. A marginal increase from July before prices contracted to around $0.40 in August, bouncing to spot rates in the past few trading sessions.
Looking at the PERP/USDT candlestick arrangement in the daily chart, buyers have the upper hand after a clear double bottom was printed following gains in early September. Whether the uptrend will continue and PERP has effectively bottomed after a rough few months is yet to be seen. What's clear is that buyers appear to be in control, and PERP is trading at...
|  | XRP Perp Open Interest Doubles: What Does This Mean for the Future of XR...
XRP has been one of the most talked-about cryptocurrencies in recent months, with many investors and traders closely monitoring its price movements. According to recent data, the open interest in XRP Perpetual Futures has doubled, suggesting that traders are becoming increasingly bullish on the cryptocurrency's future.
The increase in open interest comes as XRP's price has seen significant volatility in recent weeks, with the cryptocurrency experiencing both sharp gains and steep losses. Despite this, many in the cryptocurrency community remain optimistic about XRP's long-term prospects, with some predicting that it could reach new all-time highs in the coming months.
According to analysts, the increase in open interest is a positive sign for XRP, as it suggests that traders are betting on the cryptocurrency's future growth. However, it's important to note that open interest alone is not a reliable indicator of future price movements, and there are still many unknowns that could impact XRP's price in the coming weeks and months.
Despite the uncertainty, many in the cryptocurrency community remain bullish on XRP's future, with some pointing to the recent increase in open interest as a sign that the cryptocurrency could be poised for significant growth in the near future. As always, it's important for investors and traders to do their own research and exercise caution when investing in cryptocurrencies, as the market can be highly volatile and unpredictable.
|  | Perp Traders Remain Quiet As Bitcoin Struggles To Hold $30,000
Bitcoin has been struggling to hold on to the $30,000 level for the better part of this week, failing more often than not. While there have been various reactions from different parts of the market such as the ETFs, perpetual traders seem to have taken this as a sign to hold off on their activities. What this has led to is a continuation of the neutral or below-neutral funding rates that have been recorded in the past couple of weeks.
Bitcoin Funding Rates Unmoved
For the past few months, bitcoin funding rates have been tethering around the neutral and below neutral levels. This is interesting given that open interest in perpetual had surged to new all-time highs during this time.
Funding rates fall below neutral | Source: Arcane Research
The 21 bitcoin funding rate intervals on the Binance and Bybit exchanges have been dominated by below-neutral funding rates. A total of 16 funding rates have been neural while 5 have been neutral funding rates. All this while, the perps have continued to trade at a reasonable discount to the spot.
Leverage Still Surging
Even though bitcoin funding rates have been straggling, it has not affected the performance of open interest (OI). OI had declined significantly in the previous week but last week saw BTC denominated open interest retrace its steps and add 41,000 BTC. This brought the total denominated OI to touch new all-time highs of 290,000BTC, beating the previous May 4th high of 282,000 BTC. Just a week after open interest had div...
|  | Broader Market Celebrates Bitcoin Breakout, But What About Perp Traders?
Bitcoin perpetual traders seem to be the only ones unmoved by the digital asset’s recent breakout. BTC which has had a tremendous rally during the first half of the week had been able to break out of the slump of the low $40,000s and moved on an upward trajectory above $47,500. However, perp traders have not reacted much to it given the state of the funding rates.
Funding Rates Remain Flat
The bitcoin perpetual traders are not reacting to the recent upside as expected. This is evidenced in the fact that the perp basis is still sitting at or even below neutral funding rates, marking the 115th consecutive day that this has remained the case. This speaks volumes to how perp traders are viewing the market. Regardless of the bitcoin price increase, they have not increased their activity in any significant way.
BTC funding rates remain neutral amid price growth | Source: Arcane Research
It could easily mean that perp traders are not convinced by the recent price movement. As with the previous uptrends recorded this year, it could mean that perp traders are expecting the digital asset to go the same way. Even going as far as falling below the neutral funding rate. This follows the trend for the year so far, given that there have been no positive funding rates recorded in 2022. The decline in funding rates can be attributed to long traders closing their positions, which have caused perpetual prices to either align or continue to trail behind spot prices.
Bitcoin Open Interest ...
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Crypto Coin Prices and News 