I burned fees for months on Perps DEXs. Here’s what I learned. When I first got into the Perps DEX narrative around mid last year, I didn’t really understand how it worked. So I did what most people do: I focused on generating volume. The result? Burning fees without a clear strategy. Looking back at where we are in the cycle and at the airdrops we’ve received so far, the outcome is clear: most of them ended in losses or just break even. That’s when I decided to stop and actually understand the game. It wasn’t about doing more volume. It was about doing it better. After months of studying and testing, I found the balance using delta-neutral strategies. Since the beginning of this year, I’ve narrowed my setup to a few key venues: @extendedapp @variational_io @pacifica_fi @tradexyz @Markets_xyz Right now, across this setup, I’m generating points at near-zero cost or for very little money. I’m no longer chasing volume. I focus on trades where I come out roughly flat, but still keep accumulating points. Because at the end of the day, points are the real game. And I’d rather farm them efficiently than spend months trying to recover burned fees later. If you’re getting started with Perps DEXs, don’t focus only on generating volume. It’s the most common mistake… and one of the most expensive. In a future post, I’ll explain how I structure my delta-neutral strategies.
