With the Bull Run potentially going into its last parabolic phase, I'm keeping a new series of posts as I'm trying out the Perp Dex Platforms in an attempt to get something going there...
IF YOU ARE LOOKING TO TRY HYPERLIQUID, MAKE SURE TO USE A REFERRAL LINK AS THAT WILL REDUCE YOUR FEES!! IF YOU WANT TO TRY OUT ASTEDEX YOU CAN ALSO USE MY REFERRAL LINK FOR THAT PLATFORM.
Perp Dex Trading Journey
The narrative in cryptp right now is fully on the perp dexes who have deep liquidity and feel like the Centralized exchange experience. While Hyperliquid was the destined big winner, they now have competition with Aster which came as a reaction from Binance as they are the ones behind this new dex. CZ has been shilling it and from what I understood, 95% of the Aster supply is held by a few so the coin is easy to pump. I guess this pump was orchestrated to get a lot of eyes on the project with users coming over which worked.
The main difference between Aster and Hyperliquid is that on Aster it's possible to trade in dark pools so whales can gamble without anyone knowing their position. That remains a big issue on Hyperliquid right now as large positions where it's known what the liquidation price is tend to be hunted down. I looked up on chatgpt how this actually works as part of my learning journey and this is what it said.
Aside from this Aster also allows a lot more leverage. All these platforms like Hyperliquid, Asterdex, Polymarket all are set to have an airdrop for users which for me is a major selling point to actually give them a try.
Testing AsterDex
Asterdex very much feels like a clone of Hyperliquid and the onboarding process was exactly the same. Connect your Metamask to the platform, deposit some money. I used USDT (300$) to put on there and so far only played around with it buying 40 ASTER which is supposed to give discounts when used to pay fees with.
I plan to use Aster more as a 'gambling' site with the hope to somehow catch the airdrop at some point in time. My main perp dex trading still happens on Hyperliquid.
Week Trading Journal
Basically, there was a big red week and I got stopped out on some position while opening some new longs. Overall I remain rather cautious and I'm glad that I'm actually still up in total on my journey despite the market which is in a correction.
The fact that I still have some ammo left in USDC while I also took some more safe spot positions still makes me profitable overall despite the many learnings lesson costs that I paid.
I took a rather big loss on my TON Position, which got liquidated and I opened a new one at 2.8179$ which currently is slightly down.
I still had my SPX buy order open around 1.01$, which got picked up just at the bottom of the dump and it instantly went up but since there has been another leg down and there seems to be a battle for the 1$ mark.
Watchlist
I do have a low older set on $FARTCOIN, which so far hasn't been picked up yet.
I'm also still watching $PUMP with mainly 0.42$ as a price to put in a long. The hype around this one is gone a bit and the revenue seems to be on the decline so it's possible that more people sell again getting the price down more. At the same time I'm tempted to pick some up right here.
Results So Far
I lost around 1k last week but I'm still up overall hoping for the market to turn bullish again at some point.
| Report | Total deposit | Total Balance | Week | Total |
|---|---|---|---|---|
| #01 | 500$ | 500$ | 0$ | 0$ |
| #02 | 1000$ | 959$ | -41$ | -41$ |
| #03 | 4000$ | 4384$ | +415$ | +384$ |
| #04 | 4000$ | 5250$ | +866$ | +1250$ |
| #05 | 4000$ | 4404$ | -846$ | +404$ |
| #06 | 4000$ | 4671$ | +267$ | +671$ |
| #07 | 4000$ | 4989$ | +318$ | +989$ |
| #08 | 4000$ | 5662$ | +673$ | +1662$ |
| #9 | 4000$ | 4633$ | -1029$ | +633$ |
Conclusion
I continue to explore these platforms with quite some caution and will see where it all will take me. It remains a PvP game where every winner comes at the cost of a loser with lots of volatility.