How to Trade ETH Perpetuals on dYdX

📺 This is a Bankless Tutorial powered by DeFi Dad. You can subscribe to DeFi Tutorials by DeFi Dad on YouTube by going to: http://defidad.com/

This is a review of how to navigate the new ETH-USD decentralized perpetual market on dYdX, available ONLY to non-US residents. It is the second ever decentralized ETH perpetual market built on Ethereum--the first being MCDEX. The convenience is the efficient price exposure, depositing ETH as collateral and trading up to 10X leverage against your ETH. You can also employ strategies like a cash and carry trade to earn from the 8H funding rate, or hedge against ETH's price falling with a 1X short.

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DeFi Dad walks us through the following:
1️⃣ Why a decentralized ETH perpetual market is important and how it works
2️⃣ What is the Oracle Price, Index Price, Mid Market Price, and 8H Funding Rate
3️⃣ How to open a position
4️⃣ Recap of risks

To learn more about dYdX's ETH perpetual market, go to: https://trade.dydx.exchange/r/bankless

To read about the Index Price, Mid Market Price, and Oracle Price, read this dYdX help guide: https://help.dydx.exchange/en/article...

To read an excellent article about the history of crypto perpetual markets on The Integral blog by dYdX, go to: https://integral.dydx.exchange/compar...


For more Bankless video tutorials, check out:    • Bankless Tutorials  

Video by: @DeFi_Dad
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For more DeFi Tutorials with DeFi Dad, subscribe to his YouTube channel by going to http://defidad.com/.

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Disclosure, Disclaimer, & Risks: dYdX did not pay DeFi Dad to produce this video and he does not receive a kickback or referral fee from the Bankless code. The Bankless team does receive a referral fee. This is not financial advice and you should approach all DeFi applications, wallets, and protocols with caution. Please be aware there is always risk in using DeFi, including technical risks (ie smart contracts hacks), financial risks (ie liquidity crises), potentially admin risk (admin key compromise, governance vulnerabilities) and the risk of a stablecoin peg failing. It is also risky to use leverage because you can amplify your losses with larger positions.


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