2025-12-27 06:23:53

Testing delta trading strategies, using @Kaito@ as the experimental subject. This time, we benchmarked several mainstream DEX platforms — running two sets of trading pairs simultaneously.

First set: Going long on Paradex while shorting on Lighter.

Second set: Going long on Variational while shorting on Hyperliquid.

The main goal is to compare these platforms' bid-ask spreads and slippage performance during actual entry and exit. Different DEXs have varying liquidity depths, and trading costs directly impact returns. By analyzing real trading data, we can determine which platform combination offers better trading conditions. This kind of comparative testing is quite important for finding the optimal execution path, especially in delta-neutral strategies, where every basis point accumulates.

KAITO13,45%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

11 Likes

Reward
11
4
Repost
Share

Comment

0/400

DAOdreamer

· 10h ago

Hmm, how much is the cost difference after this entire set of strategies? It seems that Hyperliquid's depth isn't as deep as I imagined.

View OriginalReply0

SybilAttackVictim

· 10h ago

Emma, the detail freak is back again. Running tests on four platforms simultaneously? Spreads in basis points are really a torture.

View OriginalReply0

StablecoinGuardian

· 10h ago

Ha, using Kaito as a guinea pig, you really have some guts. --- So which combination ultimately won? I bet Hyperliquid's slippage was more severe. --- Delta neutrality sounds stable, but with so many DEX options, can you really make money... or is it just an arbitrage spread game? --- Accumulating basis points is correct, but the premise is that liquidity must keep up; otherwise, choosing a better platform is pointless. --- Paradex + Lighter vs Variational + Hyperliquid... feels like doing an A/B test with big money, a bit crazy. --- Real data comparison is the way to go; don't just listen to everyone brag. --- Does every basis point really accumulate? I feel like, in the end, most of the profit is eaten up by fees.

View OriginalReply0

UncleLiquidation

· 10h ago

Oh no, these small details really need to be taken seriously, or else this order will be eaten up. How is the pairing of Paradex with Lighter performing? Do you have any data? It seems that Hyperliquid's slippage has been quite intense recently. Delta neutrality sounds elegant, but in reality, it's just fighting against the costs on DEX platforms. Every basis point is deadly, no doubt... That's why I'm still messing around with this thing. Is Lighter's liquidity really that bad, or does it just look that way? Wait, is Variational reliable? I haven't paid much attention to it.

View OriginalReply0