UniDex is finally launching its perpetual platform on Arbitrum after its initial launch over a year ago. We grossed over $1 billion in trading volume across various chains such as zkSync, Fantom, and Optimism. Therefore, when the time came to launch on Arbitrum, we wanted to ensure that we offered something unique and built something to last.

Of the many things we bring to Arbitrum, here’s the highlight of what UniDexV3 brings…

• Cheapest Perp DEX on average

• Aggregated orders between multiple perp DEXs

• 18 different collateral options for traders

• Fastest Perp DEX by open to close time

• Custom counter-party pools

• Fastest clearing house

• Much more robust pricing oracle & fair price impact system

• Instant pool hedging tools for UniDex pools & other aggregated Perp DEXs

Let’s dig right in

What sets us apart

Traders will immediately notice that we offer the lowest fees in the market for opening and closing trades. Our fees are dynamic, and we recently updated them to encourage OI balancing. Despite this, we remain fair, and our fees promote a healthy trading experience.

When trading common pairs such as ETH and BTC, fees start at just 5 basis points and should remain at this rate for most activity. If things start to look one-sided and the risk for poolers increases, fees on the majority side can increase up to 25 basis points, while the minority position could fall to just 1 basis point.

This makes UniDex one of the most effective platforms for conducting regular trading activity. Even if the platform’s open interest is maxed out, orders are aggregated to flow into another platform with the best pricing, lowest fee, and capacity to take on the trade.

Collateral Options

To enhance UniDex's ability to serve as a native liquidity layer for aggregating perpetuals, we are adopting a radical approach to our counterparty pools. UniDex has been limited in the past by the imbalanced open interest (OI) that arises from mixing volatile and stable coin-margined markets. Our old contracts often resulted in traders using our ETH pool to take long positions, while our USDC traders overwhelmingly took short positions. However, our recent updates address this issue by introducing bidirectional price impact, dynamic fees, and aggregation.

With PerpsV3 on Arbitrum, traders can access a wide range of collateral options, starting from this initial list, to use for their coin-margined trades. We have already whitelisted a few options for traders, including popular stablecoins like MIM, USDC, and DAI. Exotic options such as wstETH, unshETH, gains networks gDAI, and WBTC also provide a wide range of derivative collaterals to use for trades.

In addition, we have decided to whitelist some of Arbitrum's favorite governance token pools, such as GMX, GNS, and CAP, to allow holders of those protocols to lend out their positions to the counterparty pool, take on trader PnL, and earn additional yield as traders use GMX, for example, to open trades against the GMX pool. This is great for users who are willing to have increased exposure to these tokens and do not want to sell them for traditional collateral options like ETH or USDC. Instead, they can use them directly and coin-margined for trades on the platform.

We aim to create permissionless pools with a factory contract to help users create and list their own pools, similar to UniswapV1. We’re halfway done with permissionless pool creation, but in the meantime, anyone can reach out to suggest and get their desired token listed.

Aggregation & Collateral Swaps

True aggregated orders are finally here. Users can create positions that are split between multiple perpetual DEXs instantly and efficiently. One thing that sets UniDex apart is our ability to execute up to 30 trades within the same transaction, which can include a multitude of actions. Users can enter a trade with collaterals that certain DEXs do not support by having collaterals swapped at no slippage to supporting collateral.We combine the best of SwapsV3 with PerpsV3 for this. Let’s use a real-world example of why our protocol is completely unrivaled for this using Gains Network as an example.

We want to place a trade using $100,000 in margin, but we only have ETH. The only two platforms with open interest remaining are Gains Network and UniDex's USDC pool. As a trader, you are okay with using DAI/USDC collateral, but you don't want to pay an additional high swap fee that some platforms like GMX may charge to swap your collateral from ETH to DAI to enter the trade. SwapsV3 steps in to leverage our experience in building superior order aggregation by matching your ETH → DAI swap with another trade going from DAI → USDC, and USDC → ETH, creating a coincidence of wants (CoW order). Any unmatched trades are filled from AMMs & Aggregators to get the best price on chain, which can then be used for trades.

Now, instead of the trader paying a high protocol swap fee, the trader can 1 click enter the trade using whatever collateral option, and also exit to whatever desired token they want at the cheapest route always. These trades also incur positive slippage meaning someone could swap their DAI → gDAI and earn more than the market swap rate, while market makers can fill these positions at any time for additional savings for the trader.

Trading incentives

Starting next week (07/31/23), traders on Arbitrum will be eligible to earn USDC based on the volume they do across any pool (denominated in USD). For this round of incentives, we will be giving away $20,000 worth of USDC for the volume they bring across a 2-week period, which can be tracked on our leaderboard app updated daily.After that, we’ll do a $20,000 trading competition and a $20,000 incentive round to really spark activity.

We’ll be rolling out collateral swaps on the Perp UI shortly after the launch but can experience the same superior swap aggregation mentioned from the Swap UI.

UniDex Quick links

Discord invite link — https://discord.gg/unidexTwitter — https://twitter.com/UniDexFinanceWebsite -https://www.unidex.exchange/Swap Trading — https://app.unidex.exchange/Leverage Aggregation Terminal — https://leverage.unidex.exchange/Business Inquiries — marketing@unidex.finance