Searching for Alpha: Vertex Protocol

Although onchain trading volume for perpetual futures (perps) has grown significantly in the past year, it still remains generally low in aggregate at approximately 1-2% of perps volume on centralized exchanges (compared to ~15-20% for onchain spot trading). There are a number of factors that might account for this disparity, including gaps in performance, feature set, and liquidity.  

Since launching in 2021 as a forex-focused DEX on Terra, Vertex has pivoted to a perps-centric roadmap focused on bringing portfolio margined accounts with vertically integrated spot and money markets to onchain perps built on Arbitrum. Accounts on Vertex are cross-margined by default and Vertex utilizes a hybrid infrastructure consisting of an offchain central limit order book (CLOB) with an onchain risk engine and integrated constant product AMM for spot liquidity.