QFEX is next? https://xitter.cf/t.co/z70L3ImJUc
Joined July 2022
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Not sure if it's related, but ever since @NMTD8 started streaming his trades on Borsa, $BRIDGE has been looking better every day.
Maybe it also has something to do with the buybacks being automated now.
Either way, it's good to see small bets within the HL ecosystem doing well. I don't think there's anyone more aligned with HL than @NMTD8 , so I wouldn't take my eyes off $BRIDGE, $PiP or @Borsa_HL
If I remember correctly, if you held a @PiPonHL NFT in your wallet, a small percentage of the fees you generated through Borsa would also go towards buying $PiP.
Sometimes I get the feeling that whenever I get close to the impressions needed to get paid by @X , I get shadowbanned hard.
I literally go from getting 3-4k impressions per post, sometimes way more, to almost zero.
Same topics as always, and I only post when I feel like it or have something to say.
Curious if anyone else who's right on the edge of qualifying for payouts experiences the same thing.
Not asking those of you who get paid every time. You've clearly figured it out
Is it possible that @arcus_xyz has reassigned referrals to the original access code owners, even if those users signed up through someone else's referral link?
I've noticed some new referrals showing up on my dashboard. Anyone else?
If that's the case, I think it's a great move.
Now they just need to revoke access from anyone who gets a code but doesn't trade within the first 10 days, and we're all set :)
Yesterday was pretty wild for farming funding between @arcus_xyz and @QFEX .
Following the same strategy as last week, these trades will stay open all weekend unless something weird happens. Free +$70K OI farming, free points.
Also, having all my green positions on @arcus_xyz and the red ones on @QFEX gives me another shot at getting selected for the weekly loss refund.
Yes, DN is boring and time-consuming. But once you get the hang of it, it's pretty effective and allows you to maintain way more OI than you could with directional trading using the same margin.
All you need to do is run DN between @QFEX and any other DEX, and close your losing positions on QFEX while the campaign is active.
If you get a decent loss refund like I did, that's basically enough to generate $4M in volume across two DEXs for free.
You just need to sign up on QFEX and link your Twitter account: qfex.com/@MrButler
Most people in CT will read the name @MartinShkreli and it’ll sound like Mandarin Chinese to them (no offense to my Chinese frendos lmao).
But here’s why I think this is actually pretty bullish for @QFEX.
For those unfamiliar, Martin Shkreli is a former hedge fund manager, a controversial figure in traditional finance, and someone with extensive experience in financial markets.
He’s also the guy behind @GodelTerminal Terminal, a platform focused on financial research and trading tools.
Now, here’s the interesting part.
Apparently, Godel Terminal has chosen just two perp DEXs for integration:
• @HyperliquidX
• @QFEX
Think about that for a second.
Out of all the perp DEXs competing for attention, @QFEX is being placed alongside the undisputed market leader.
What makes this particularly interesting is that Shkreli comes from TradFi, not the usual CT farming bubble.
Sometimes the most interesting signals aren’t the loudest ones.
Excited to partner with @MartinShkreli's terminal @GodelTerminal to bring equity perpetuals to a wider audience!
Another badge, which probably means another points multiplier.
@get_truenorth is slowly cooking while you're slowly fading.
For those farming RH x @Lighter_xyz , I genuinely don't see why you wouldn't use the platform.
Arbitrage scanner + 2x points on both Lighter and RH. Pretty much a no-brainer imo.
Now imagine TrueNorth integrating all the DEXs we love farming. In my case, @arcus_xyz , @QFEX and @risextrade .
And with Variational about to release its API, they could eventually add Variational too, along with whatever other shit you guys love farming.
You'll have everything in one terminal, with an arbitrage scanner that finds the setups for you, so you won't even have to look for them yourself.
On top of that, AI agents for organic trading, indicators, and more.
Once they integrate all my favorite DEXs, which I really hope they do, I'll personally move all my capital to TrueNorth and farm everything from there.
Yes, farming is boring. Posting some insane PnL from a random memecoin gets way more attention.
But that's short-term dopamine, not a long-term strategy.
Patience pays. And imo, those who know how to wait will be the ones rewarded: app.truenorth.xyz/ref/BUTLER
If you see points getting harder to earn, that's your signal to stay and push harder. Not run off to farm easier ones.
Almost tripled my points from last week. Went from 33 to 84.
Volume went from $150k to $400k, and OI increased to $40-60k too.
All DN, some setups shared in my TG group.
DM me to join, more chads joining every day.
I find this interesting:
Easy to earn points = good
Hard to earn points = bad, I'll just move to where points are easier to get.
Even though all these perp DEXs are roughly the same age and well known on CT. In some cases, the ones giving out easy points are even more popular on CT.
Someone explain this to me, because in my head it should be the other way around
My frendo @Cosmyn_23 keeps telling me that running a DN strategy is a massive pussy move lmao.
But this strategy has allowed me to farm points across pretty much every perp DEX I found attractive in 2025 and 2026.
Now that some of them are approaching TGE, it's almost harvest season.
And the best part? I'm not just sitting here with my initial capital intact. My portfolio is almost 2x from the beginning of 2026.
Let's see what I've planted:
1. @extendedapp : $EXT
- 1,900 points
- Expected: $1.23/point minimum
- Potential airdrop: $2,337
My TGE valuation: $300M FDV
2. @hibachi_xyz : $HEAT
- 8,800 points
- Expected: $0.10–$0.20/point
- Potential airdrop: $880–$1,760
My fair valuation: $50–100M FDV
Got absolutely scammed on this one lmao.
3. @variational_io : $VAR
- 400 points
- Expected: $50/point
- Potential airdrop: $20,000
Probably my best pick and definitely the DEX I farmed the most.
Ironically, it's also the one where I earned the fewest points. But even at $50/point, it should deliver by far the biggest reward.
Total potential airdrops: $23,217–$24,097.
Even though I mainly run DN, when prices reached bear market levels, I couldn't resist opening some small spot-like swing positions on these DEXs.
No liquidation risk, no SL. Just low-leverage swings on LINK, PENGU, AAVE, NEAR, WLD and a few others.
I've gradually closed them at pretty nice profits.
That's how my portfolio ended up almost 2x from the beginning of 2026, while farming points along the way.
Looking back at my three picks:
- Variational: Massive W
- Extended: W
- Hibachi: Massive L
And I managed to skip NADO, HYENA, 01, Paradex and a thousand other perp DEXs I've already forgotten about.
Now, my three picks for the next farming cycle are @QFEX , @arcus_xyz and @risextrade .
By the time I collect these upcoming airdrops, the landscape should be much clearer, and I'll probably narrow things down to two of those three for my DN strategy.
Of course, my organic trading will always stay on Hyperliquid, with @get_truenorth helping me find setups.
The rest is just farming future airdrops.
I share everything I'm doing, including DN strategies, funding opportunities and cost-per-point calculations, in a small TG community.
If you want to join, DM me, frendo.
Let's see what this harvest brings.
I find this interesting:
Easy to earn points = good
Hard to earn points = bad, I'll just move to where points are easier to get.
Even though all these perp DEXs are roughly the same age and well known on CT. In some cases, the ones giving out easy points are even more popular on CT.
Someone explain this to me, because in my head it should be the other way around
Well, this tweet makes it pretty clear that @get_truenorth is gonna keep cooking.
Which DEX would you like to see added to their arbitrage tool next? 👀
More DEXs are coming, still in hidden season and pretty underfarmed imo.
I just grabbed the annual subscription since it comes with a 2x points boost and it's currently discounted.
Looks pretty good:
app.truenorth.xyz/ref/BUTLER
A lot of people I trust keep asking me why I'm SO bullish on @QFEX when, for them, it's a massive RED FLAG.
Fair question, frendos. Let's talk about it.
First, the elephant in the room: the Bermuda situation.
Back in November 2025, Bermuda's financial regulator issued a warning after QFEX's website incorrectly claimed the company held a licence it didn't have.
QFEX took the website offline after being contacted.
Was it a mistake? Absolutely. Should it be ignored? No.
But does that automatically mean the team is building a scam? I don't think so.
For me, there's a big difference between a regulatory screw-up and evidence that an exchange is fundamentally fraudulent.
And I think this story has become much bigger on CT than its actual relevance to evaluating the product today.
Now, why am I so bullish?
1. The numbers.
In September, @QFEX averaged:
- $217.6M in open interest
- $182.4M in daily volume
- Just 0.84x daily volume/OI turnover
Now compare that with October 20:
- $280.5M in open interest (+28.9%)
- $372.8M in daily volume (+104.4%)
October's figures are a snapshot rather than monthly averages, but the difference is still impressive.
And here's what I find particularly interesting.
QFEX is currently the #2 tokenless perp DEX by OI in the ranking I'm looking at, behind only Variational.
Ahead of @arcus_xyz , @extendedapp , @risextrade and many others.
Everyone loves posting massive trading volumes, but volume alone tells you very little in an industry full of points farming and wash trading.
Open interest matters because it shows how much exposure traders are actually keeping open.
It doesn't prove that all activity is organic, but combined with volume and liquidity, it gives you a much better picture.
And QFEX is putting up these numbers without the kind of public points farming campaign driving activity on many competing DEXs.
That's what caught my attention.
⬇️⬇️⬇️
5. The product actually works.
This is probably the most important part for me.
I'm not bullish just because of the team, the funding or a potential airdrop.
I'm actually using QFEX.
I've been running delta-neutral strategies across QFEX, Arcus, Variational and other perp DEXs.
And the execution and liquidity have genuinely impressed me.
Does it have problems? Of course.
Fees outside Grow Mode can be expensive, and there's still plenty of room for improvement.
But the product works well enough that I've made it one of my main venues.
And the Loss Refund Program makes it even more attractive for my particular strategy.
I'm not saying everyone should trade there.
I'm explaining why I do.
Final thoughts.
So here's what I see:
- One of the highest OI figures among tokenless perp DEXs
- $300M+ in open interest
- Strong growth compared with September's averages
- A team with serious TradFi and market-making experience
- $9.5M raised from established investors
- Early-user rewards and Season 0 signals
- No conventional public points campaign
- A product I've tested extensively and genuinely like
Meanwhile, a lot of the attention on CT is still focused on the Bermuda controversy.
I'm not saying the regulatory issue doesn't matter. It does.
And I'm definitely not saying QFEX is risk-free.
But I think there's a difference between acknowledging a red flag and letting it completely overshadow everything else.
Maybe I'm wrong.
Maybe the market knows something I don't.
But after looking at the numbers, researching the team and actually trading on the platform, I think QFEX deserves a lot more attention than it's getting.
That's why I'm so bullish, frendos.
Yooo, didn't get selected for the @QFEX Loss Refund Program this week, but happy to see 2 frendos from the TG group made it.
Congrats @Exsa_mui and @Xmmmantha
Not selected this week, but already registered for the next one. They distributed $23k to 52 traders. Check if you got selected.
Absolutely worth it for your DN strategy, but not because of the loss refund. I genuinely think this is the next big thing.
200+ markets, goated team and surprisingly deep liquidity. Probably thanks to the team's background as market makers
Join there and dm me if you wanna join our TG group where we discuss farming strategies for QFEX, Arcus, Risex and other DEXs: qfex.com/@MrButler
