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About Zenex

What is Zenex?​

Zenex is a DeFi protocol that allows anyone to create or utilize an immutable perpetual market that fits its needs.

What is a Perpetual Exchange?​

A “perps exchange” is a trading platform for perpetual futures (“perps”) derivatives that let you bet on an asset’s price (like BTC, ETH, etc.) without ever expiring. Unlike regular futures that settle on a set date, perps can be held indefinitely, as long as you have enough margin

Here’s how it works, fast:

  • Price tracking via funding rate: Because there’s no expiry, perps use a funding payment between longs and shorts (e.g., every 1–8 hours) to keep the perp price close to the spot/index price.
    • If the perp trades above spot, longs pay shorts (positive funding)
    • If it trades below spot, shorts pay longs (negative funding)
  • Leverage & margin: You can borrow exposure (e.g., 5x, 10x, 25x+). You post collateral (margin). If the market moves against you too far, you can be liquidated (your position is closed to prevent your balance going negative)
  • No delivery of the asset: You’re trading a contract on price, not owning the underlying. PnL is realized in the collateral currency (USDT, USDC, BTC, etc.)
  • Fees & mechanics you’ll see:
    • Maker/taker fees on each trade
    • Funding rate (periodic, paid between traders)

Why should you use Zenex?​

Zenex is a perps exchange built for speed, safety, and composability, so traders, apps, and market-makers can plug in and get deep, efficient leverage exposure with on-chain transparency.

Permissionless:

  • Open access so anyone can trade, provide liquidity, or integrate.
  • Composable primtiives that any ****developers can spin up markets, stratgies, and structured products without waiting on goverance

Capital Efficiency:

  • Reactive funding/interest mechanics help keep prices aligned with spot and reduce idle capital
  • Low-latency matching & deep liquidity target tight spreads and lower slippage, even for size
  • Portfolio margin unlocks netting across positions to get more from the same collateral

Security:

  • On-chain transparency (auditable contracts, real-time metrics) so you can verify, not trust
  • Battle-tested liquidation are designed to protect lenders, traders, and LPs during volatile moves