About.

perpsindex is a publication and a set of tools for people who trade perpetual futures and want to read funding rates as what they are: a forced positioning signal, not a number on a leaderboard.

The premise is simple. When a market gets crowded, the people on the wrong side pay to stay there, and that payment is the funding rate. It is one of the few honest signals left in a market full of dishonest ones, and almost every tool that displays it does so in a way that quietly works against the person reading it.

I have been in markets for about twenty years, across equities, commodities, and now crypto. I bought my first Bitcoin in 2012 when it was fifteen dollars, because the white paper described money that did not depend on anyone's permission. That is not what the space became. What it became, mostly, is a casino with a marketing department, and a cottage industry of tools built to move a retail trader's money out of his account under the cover of teaching him how to make more of it. The funding-rate scanner that flashes a 1500 percent return and a one-click button is the purest specimen. The number is not real. The trade it points at is the product, and the trader is the raw material.

perpsindex is built the other way around. It shows the same data those tools show, and then it shows you why the headline number is fiction: the funding interval mismatch, the liquidation math, the slippage, the spread that has never once held for a year. It surfaces fewer setups, not more, because most days there are only a handful worth your attention, and lately the ones worth watching are in markets the larger crypto sites do not cover at all. When it does flag something, the reasoning and the risks sit on the same screen as the number.

A few commitments that will not change.

I show losses. The track record on this site includes the trades that did not work, because a record that only shows winners is a sales document, not a record.

I do not post account screenshots or specific balances. The writing is informed by real trading, but the point is the mechanics, not the flex.

This site earns money from exchange referral links, and that is disclosed on every page that carries one. The editorial position is kept separate from the referral routing, which means there are venues I will point you to even though I earn more somewhere else, and listings I will call a trap even though saying so costs me the referral. That cost is the point. You can read exactly how it works on the disclosure page.

None of this is financial advice. I am not your advisor, I do not know your situation, and any trade described here is illustrative. What I can offer is an honest read from someone who has been here long enough to know what was promised and what got delivered, and who still thinks the original promise was worth keeping.