A Comprehensive Setup to Make 5-6 Figures From Perps [Don’t Miss This If You Faded Variational]

They FOMOed into Lighter when Lighter announced the airdrop.

Then missed Variational.

Now they’re FOMOing into Variational and will miss the next cook.

Because it’s human nature ; people focus on what is making noise, not what is going to make noise.

And I’m here to show you how to catch the one that’s going to make noise.

Don’t fade this banger.

and read full.

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So before we start, a few points to consider:

1. This is purely a realistic (not feeding hopium) setup to farm perp DEXs currently, so let’s get into this.

2. Read this when you can read the full article.

3. If you think you can farm perps only if you know trading, you are wrong. You simply have to use DN (your money is working for you).

I’ve made a video for beginners (watch):

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4. And the beauty of DN is that you can farm 2 projects while farming one.

So if you’re farming 2, you’re farming 4 projects.

Better DIVERSIFICATION.

5. What if the perp meta ends?

That’s what people said after HL, even after Lighter, even after Vari, but things keep cooking up.

Why?

Because of the solid revenue model of perps - fees. So it won’t eventually die for at least the next few years.

Now, let’s get back to the point. I won’t waste your time.

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The First Step: Selecting the right perp DEX

The first step to start farming any perp DEX is to identify which is the best among the live platforms.

If you select the wrong platform, you may regret it.

And the problem is people start farming any platform without much research.

So let’s first identify the platforms.

And for that, I have two golden rules to select two platforms so that we can hedge each other & both should be:

Rule #1 : Liquid vs Retro

• Liquid airdrop: One should be a kind of confirmed airdrop that can pull a decent cook.

• Retro airdrop: This is a kind of unconfirmed airdrop, but there are hints of an airdrop with an early advantage, higher and potentially unlimited upside but limited downside.

Why are these two setups OG?

Because when you hedge between these two, you’ll incur a cost.

And the liquid one will cover your cost as it is confirmed + give you extra profit.

The second retro one will be pure profit with higher upside and 0 investment because you’ll recover the cost from the liquid airdrop.

Rule #2 : One setup should have lower fees than the other

One should ideally have 0 fees.

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So now let’s talk about the setup that aligns with these rules.

MY CURRENT PERP FARMING LIST :

1. Variational
2. Arcus
3. Lighter RH
4. Entropy

Now we have to make pairs for perps using our golden rules.

As per the rule, we have to categorise them into liquid and retro:

1. Variational - Liquid (32% airdrop)
2. Arcus - Retro
3. Lighter RH - Liquid ($55–60M airdrop)
4. Entropy - Retro

Now, fees:

1. Variational - Almost NIL
2. Arcus - Moderate
3. Lighter RH - Almost NIL
4. Entropy - Moderate

So here we have: 2 Retro + 2 Liquid And Also: 2 Almost NIL fees + 2 Moderate fees

Now let’s make the best possible pairs.

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CASE A : You faded Variational or have very few points there. (Most people fall into this case.)

Pair 1: Lighter RH × Arcus Pair 2: Lighter RH × Entropy

Yes, skip Variational completely because of many reasons: • Now you get very few points because everyone is farming Variational. • Volume will keep growing as whales keep grinding more. • API is being introduced in October, so it will be very tough to farm points.

Tbh, one of the best and safest setups Is hedging with Lighter RH because of low competition + the $55-60M pool.

Don’t judge points based on the real time points. They distribute the main points on Friday.

CASE B : You are already farming Variational.

Pair 1: Variational × Arcus Pair 2: Lighter RH × Entropy

Or:

Pair 1: Variational × Arcus Pair 2: Variational × Entropy

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Skipping Lighter RH as you already have an early hedge on Variational.

With these pairs, you are safe from the risk because you are doing retro with liquid airdrops, which will be enough to cover your cost and the rest will be profit.

Example: I farmed as per Case A and it cost me $500. Lighter RH gave me an airdrop of $1,500. $1K profit. And now I’m positioned for Arcus & Entropy for free. Nothing to lose even if things go wrong. And if they cook, I will make pure profit with higher upside.

So don’t randomly select projects to farm. Use these rules so you don’t end up wasting your capital.

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Now comes the most important part

Till now, you have done the most important thing in farming any perp:

Selection of the pair to farm.

Now the most important part comes

The Second Step : Strategies and execution, including their details.

1. Variational

• Tier: S
• Category: Liquid Airdrop
• Fees: 0
• Reason: You all know, so no need for any explanation on it.
• Point value: $25–30 (OTC ~ not my prediction)
• Access: Open to all
• Strategy: About to end, so if you are a new user, you may just use it for DN for Arcus & Entropy (if you are falling into Case B).

2. Arcus :

• Join Waitlist : http://waitlist.arcus.xyz/ref/EBA • Access : http://app.arcus.xyz/ref/EBA

• Tier: A/S
• Category: Retro Airdrop
• Fees: Moderate
• Reasons: • Token confirmed (high chances of airdrop).

DYDX CEO

• Early advantage because over 100K people are waiting to get access and our users already got access, so don’t fade it.

• Current period matters a lot for future points :

Just like Vari dropped 200 points for $1M volume worth $6K, as per OTC. Now $1M is worth just 5 points. See the difference of being early.

• Good and community aligned team. • Backed by dYdX. • Partnership with Robinhood (they are an investor as well). • Doing huge volume despite having limited access.

DefiLlama

Just imagine what will happen when they go public.

Whales will jump here after Vari - be early.

• Point value: TBA
• Access: Limited
• Strategy: Farm as much volume and OI as possible before it goes public.

Use the advantage of being early so that you can eat good from the retro points when they introduce it in futures.

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3. Lighter RH Link to join: https://robinhoodchain.lighter.xyz/?referral=ABHI

• Tier: S
• Category: Liquid Airdrop
• Fees: 0
• Reasons: • LIT keeps pumping, which makes the current airdrop pool worth $55-60M, which is huge. • Low competition as many are busy farming other perps. • Most important thing - almost NIL fees, so you’ll save a lot of cost.

• Use Robinhood Wallet for trading (2X bonus) and TP/SL is also available on both Android and iOS.

• Point value: Assuming total points are 1.5M considering the fact that they will end it at the end of the year.

$55M / 1.5M = $36 per point at the current price.

Even if it drops, it could be $20-25, assuming total points around 1.5M.

• Access: Everyone
• Strategy: Earn Lighter points distributed every Friday until live.

4. Entropy

Link to join: https://entropy.io/?r=eba

• Tier: A
• Category: Retro Airdrop
• Fees: Moderate
• Reasons: • Raised $14M from Rabbit Capital (the VC that took the $68M bet on Lighter early).

CRYPTORANK

• $40M HYPE staked. • Based on HIP3. • Volume here will interact with HL too, so double advantage. • Good team. • Low competition.

• Access: Everyone
• Strategy: The objective here is simply to push some volume in the early phase, like $500K-$2M minimum, so that you’ll be eligible for their future retro points drop.

And if that turns out to be good, we’ll continue after point program goes live.

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10 game changing tips from my years of experience farming perps

this is important throughout your perp journey.

1. Always monitor your cost and compare it with the realistic value of points :

Potential value of liquid airdrop points should be way higher than overall cost.

If it’s not, you’re doing something wrong - stop it.

Example:

I’m farming Arcus & Lighter RH. I’ve farmed millions in volume, burned around $50 in fees + spread and earned around 12 points on Lighter. If 1 point is worth ~$20-25 based on our estimate, that puts 12 points at around $240- 300.

Hence, I know I’m doing things right - my potential reward is significantly higher than my farming cost.

Note: Be conservative when calculating the point value. Use a bearish scenario so that the estimate gives you a more reasonable picture.

2. Try to use limit orders as much as you can for hedging because in most perp Maker fees is zero:

Arcus

but using limit orders on both is hard

Limit order trick: Simply place a limit order on the platform with higher fees & execute a market order at the same time on the platform with low fees when your limit order gets executed.** ** You have to be active.

3. Don’t go aggressive with volume and trading :

Simply do what you can sustain daily for the long term. Consistency.

4. Holding trades > wash trading volume :

Hold for at least 3-4 hours and some for 9-12 hours {Mix both}

5. Don’t chase profits in a hedge :

Closing the loss at less and profit at higher, or vice versa, will eventually make you lose and cost you almost 100-500 of trades that you could have done, all lost at once.

Example:

Suppose my trades are running in DN - one side is $50 in profit and the other side is $49 in loss.

I book the $50 profit and wait for the $49 loss to come down to $40 or $30 so I can make more profit.

But instead, the loss increases to $70, then $100, and eventually I have to close it at a $100 loss.

So my net loss is $50.

With that $50 loss, I could have literally made multiple trades and farmed more volume.

So you may have potentially lost $300-400 worth of points by trying to chase that extra profit.

This can work if you have experience and knowledge of TA. Some people literally trade like this - it’s called hedge trading.

But if you’re doing it like a gamble, you will lose.

6. Understand the risk of DN so you can execute DN nicely :

A. Entries : Entries should be at the same point.

Best ways to reduce this risk: • Stay extra cautious while entering. • Short the one with the higher price. • Long the one with the lower price.

B. Closing : This risk can arise when your SL gets executed on one side but not the other TP

This can lead to one sided risk.

To avoid this: *• Monitor trades when they are close to your TP/SL.

*And when you can’t monitor the trade or won’t be able to monitor it (maybe because you’re sleeping or not active), either don’t do DN or use lower leverage so your liquidation price is beyond the expected price range.

This can work better with indices like SPY and QQQ because they generally don’t move as much so i use this when i am sleeping so that i can hold my trades so long to farm OI & funding.

But yeah, it’s still risky with crypto because of the higher volatility although the setup can still work. * • Try to close trades manually at the best point. • Try usually during US market hours after 7:00 PM IST on weekdays for good volume. • Open trades on weekends, but don’t close much as it will cost higher because of spread/low volume {On weekends, you can simply hold trades and farm funding fees.}*

7. Which pairs should you trade?

RWA/Gold pairs yield better points, while BTC yields less.

So try to trade RWA and some crypto tokens with good volatility.

For example, I trade: RWA: QQQ, CRCL, HOOD, SPY, SPCX, NVDA, XAU, etc. Crypto: BTC (very less), ETH, SOL, XRP, NEAR, LIT, HYPE, etc.

8. If you’re new to perp farming:

The biggest tip I can give you is start slowly.

First, start with less capital to understand how to properly execute DN and understand how the fee model works through experiments.

Once you’re used to the platforms (maybe after 20-30 trades), then start deploying more of your capital.

9. Try to refer a few people:

Here, you don’t need to invite hundreds or thousands of people.

Even a few or double digit referrals can be enough to earn you good points because you usually get a percentage of their points.

So try to focus on quality referrals from people who are genuinely interested in perps.

Tip : you can get some by posting on x

10. Don’t fade the early-mover advantage:

This is one of the biggest edges.

Making some millions in volume before the points program goes live can be a huge advantage because once points go live, that early activity may earn you a lot of retro points.

But this doesn’t mean you have to gamble volume on every platform where the points program isn’t live.

Do it where there is potential.

As I told you in the current setup:

Arcus & Entropy

While with Entropy, stop after reaching the further volume target, whereas with Arcus, you should continue.

Example : during pre point season in Variational went live, they dropped around 200 points for 1M volume.

so It’s all about the timing of farming.

At some point, your 100K volume today may be worth 10M or 1M in future points.

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And most importantly

Whenever you need any help regarding anything or have any doubts about farming, feel free to DM me anytime on TG or X.

I’ll try to reply ASAP and solve your doubts.

or If you face any problems on any platform regarding price discrepancy, I’ll help you escalate the issue.

So don’t worry.

I’m here with you throughout the whole journey.

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Disclaimer

Farming perps involves investment, so invest wisely and follow everything I told you.

Farming blindly on anything is not a smart move.

You may not get back what you lose, so execute things carefully and understand the risks if anything goes wrong.

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At the end

So, hope you like the article.

and I think you’ll not find this amount of detailed coverage on everything across CT.

I’ve been grinding perps for a long time and I’ve been connected with many whales as well.

No one will tell you all these things.

So value the content and enjoy.

Just give me a little favour by liking this tweet and quoting/commenting your opinion on the article.

I’ll keep updating things as we progress, so don’t forget to follow me on X and TG:

X: x.com/earnbyabhi TG: t.me/earnbyabhi23

Thanks for reading.

Hope this was worth your read.

Your friend/brother, Abhi

Signing off.

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