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Perp farming is still profitable.
But only if you stop burning fees.
This is the framework I use to farm perp protocols efficiently.
MENTALITY
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I’m not trying to farm the most points.
I’m trying to farm the cheapest points possible.
That means:
- delta neutral exposure
- minimal trading fees
- positive funding when possible
- positions that can stay open for weeks
The goal:
Open positions that cost ~0 to maintain
while continuously farming points.
PROTOCOLS I FARM (AND WHY)
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🔹Lighter
0% trading fees (limit + market).
I mainly use it to build one side of delta-neutral positions while farming Season 3 points.
Most efficient way to farm:
Season 3 hasn’t been officially detailed yet, so the optimal strategy is still unclear.
🔹Variational
0% fees.
Their system rewards activity in lower open interest tokens, so I mostly trade alt pairs organically here.
Most efficient way to farm:
• trade lower OI tokens
• keep positions open
The lower the open interest, the more points you receive.
🔹Extended
0% fees on limit orders.
Points reward:
• keeping positions open
• positive PnL
• lower OI pairs
You can also earn 10%+ APR on capital used for trading, which helps offset farming costs.
Most efficient way to farm:
• keep positions open
• focus on lower OI pairs
🔹Hibachi
0% fees on limit orders.
Useful for executing one side of trades efficiently.
Most efficient way to farm:
Volume.
Market orders generate more points, but limit orders are more cost efficient.
🔹GRVT
Taker: 0.037%
Limit orders: are not free. They pay you (~0.01%).
Personally, I’ve already saved more than $60 just by using limit orders.
You can also earn interest on balances used for trading, up to ~11% APR.
Most efficient way to farm:
- trade altcoins (5x points boost)
- maintain open positions
🔹Pacifica
Maker: 0.015%
Taker: 0.04%
Fees exist, but their system heavily rewards open interest.
Most efficient way to farm:
- maintain open positions
- focus on lower OI assets
🔹01 Exchange
Maker: 0.01%
Taker: 0.035%
One of the earliest farming opportunities right now.
We’re only around week 5 of the program.
Most efficient way to farm:
- maintain open positions
- focus on lower OI assets
TOOLS FOR FINDING FUNDING
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Fundingviewapp
and
Loris Tools.
Both help identify opportunities where funding + points farming can work together.
🔸FundingView
I usually analyze funding using different timeframes.
Shorter windows show recent spikes,
while longer ones help see how consistent the APR has been over time.
This helps avoid trades where funding disappears quickly.
🔸Loris Tools
Another very useful option.
It aggregates more exchanges, making it easier to compare funding opportunities across multiple perp platforms.
PRACTICAL EXAMPLE
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Here’s a simplified example of how I find and execute a trade.
First, I use Loris Tools.
In settings I filter:
- Open Interest rank: 10–200
- Minimum APY: 20%
Then I sort by OI rank.
From there I look for assets with:
- decent APR
- relatively consistent funding
Once I find a candidate, I choose where to execute the trade.
The most efficient setup is usually:
A DEX with 0% market fees
vs
A protocol with free or very cheap limit orders.
Example setup:
GRVT + Variational
- Step 1
Place a limit order on GRVT.
-Step 2
Once it executes, open the opposite position at market on Variational.
This creates a delta-neutral setup where:
- you farm points on both protocols
- trading fees stay minimal
- funding can add extra yield
There may be some small slippage.
But over time, funding + points + low fees usually compensate for it.
Same game.
Different approach.
Farm smarter.
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