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ArithFi هي منصة تداول مشتقات تستخدم نموذج SCP (العقد الذكي كطرف مقابل) لتكون شريكًا في تداول العقود الآجلة والخيارات لجميع المستخدمين. تقوم ArithFi بإزالة الكيانات مثل MM (صانعي السوق) و LP (مزودي السيولة) لتوفير تجربة تداول مشتقات فريدة للمستخدمين. دعونا نستكشف ArithFi بشكل أعمق من خلال هذه المقالة.

ما هي ArithFi؟

ArithFi هي منصة تداول مشتقات تستخدم نموذج SCP (العقد الذكي كطرف مقابل)، حيث تعمل العقود الذكية كأطراف مقابلة في تداول العقود الآجلة والخيارات لجميع المستخدمين. كما تقوم ArithFi بإزالة صانعي السوق (MM) ومزودي السيولة (LP) لتقليل المخاطر وإزالة خطوات مطابقة الطلبات في تداول المشتقات التقليدي.

إليكم قصة المتداول الذي حقق ربحًا قدره 871 ضعفًا في ليلة واحدة فقط:

"بدأ كل شيء عندما تابعت KOL الذي قدم بورصة بدون رسوم تداول وبدون انزلاق - ArithFi. بعد إجراء بعض الأبحاث، أخبرني حدسي أن هناك فرصة في هذا التبادل. في السابق، عند التداول على Binance، في كل مرة أقوم فيها بفتح وإغلاق مركز برافعة مالية 50x، كان علي دفع رسوم معاملة بنسبة 5%. إذا تم استرداد هذه الرسوم لكل من صفقاتي، فأعتقد أنني أستطيع تحقيق ربح ثابت. لقد قمت على الفور بتنزيل ArithFi وبدأت التداول بمبلغ 200 دولار.

In the cryptocurrency market, funding rate arbitrage is a popular strategy, especially for those traders seeking stable returns amidst market volatility. This article will explore how to apply the funding rate arbitrage strategy in an ideal trading environment—namely, with zero slippage and zero fees.
Basics of Funding Rate Arbitrage
The funding rate is a fee paid between long and short positions in the perpetual contract market, aimed at anchoring the futures price to the spot price. When the futures price is higher than the spot price, long positions pay the funding rate to short positions; conversely, short positions pay to long positions. This mechanism provides traders with the opportunity to profit from minor market discrepancies.
Ideal Trading Environment: Zero Slippage and Zero Fees
ArithFi offers a trading environment with zero slippage and zero fees, meaning traders don't have to worry about price differences caused by trade size or additional trading costs. This environment provides an ideal stage for funding rate arbitrage.
Implementing the Funding Rate Arbitrage Strategy
Step One: Monitoring and Selection
First, traders need to find trading pairs with high funding rates on centralized exchanges and ensure the funding rate is more than twice the transaction fee. This step is key to the strategy's success and requires in-depth market analysis skills.
Step Two: Establishing Hedge Positions
Before the funding rate settlement (e.g., one minute before), if the funding rate is positive, open a short position on a centralized exchange and an equivalent long position on ArithFi. This ensures that overall positions are hedged regardless of market fluctuations.
Step Three: Profit and Close Positions
After the funding rate settlement, close positions on both exchanges simultaneously. In an ideal scenario, if the funding rate is 0.1% and the centralized exchange's fee is 0.02%, with 50x leverage, theoretically, it's possible to achieve a 1.5% return every 8 hours.
Risk Management
While this strategy seems foolproof in a zero slippage and zero fee environment, several key risks must be considered:
Market Risk: Severe market price fluctuations can affect arbitrage effectiveness.Operational Risk: The rapidly changing market environment requires traders to execute trades quickly and accurately.
Conclusion
In an ideal trading environment with zero slippage and zero fees, funding rate arbitrage offers a relatively low-risk opportunity for returns. However, the key to success lies in a deep understanding of the market, quick and accurate operational ability, and strict risk management. Platforms like ArithFi provide new possibilities for implementing this strategy, but traders should remain cautious and continually learn and adapt to market changes.

Since Satoshi Nakamoto invented Bitcoin in 2008, the cryptocurrency and blockchain industry has experienced several bull markets, each accompanied by the birth of new technological models. Each breakthrough in technology has led the market, attracting the attention of investors and forming new hotspots. During this process, countless innovative projects have emerged. Although the hotspots are complex, on the whole, it is technological innovation that has driven the industry’s development. It has become particularly important to analyze the development trajectory of the industry to meet the prediction needs of investment institutions.

We believe that only genuine innovative models can lead the industry forward, while those projects that are merely copies, follow trends, or rehash old ideas cannot become leaders in the industry. The development of the industry mainly revolves around the innovation and evolution of two major types of models — asset models and trading models.
Innovation in Asset Models

The first-generation asset model, led by Satoshi Nakamoto’s Bitcoin (BTC), initiated the wave of decentralized digital currencies. Subsequently, projects with unique features such as Peercoin (PPCoin), Primecoin, and Colored Coins emerged. However, no matter how novel these projects were, they could not escape Nakamoto’s basic architecture — distributing new digital currencies through mining or other mechanisms.

The second-generation asset model was ushered in by the emergence of Ethereum and the introduction of smart contracts, giving rise to the ERC20 token. These tokens no longer required an independent blockchain but operated on Ethereum’s consensus mechanism. Due to its simplicity and ease of use, the ERC20 token quickly gained market recognition and became the protagonist of the bull market from 2015–2017.

The third-generation asset model is represented by the ERC721 token, known as NFT (Non-Fungible Token). NFTs shone brightly in the 2020–2021 bull market, driving a large number of artists and creators to join the blockchain industry.

Recently, inscription tokens based on the Bitcoin network have become a new rising force. This asset model maintains the same fairness characteristics as Bitcoin, attracting a lot of investor attention, indicating that it may lead to a new bull market.

Asset models have undergone several rounds of innovation, increasingly reflecting the innovative spirit of the crypto community, although it is the demand for coin speculation that drives them. The biggest problem with asset models is that merely creating a new asset is difficult to gain mainstream financial support. Although countless ordinary retail investors flock to it, institutional funds rarely hold more interactive or guaranteed token assets on a large scale. This also shows that pure asset model innovation is not enough to support the entire industry.

Evolution of Trading Models

The innovation of trading models provides more on-chain interactions and application scenarios, attracting the attention of institutional investors. The trading model has evolved from off-chain to on-chain, from simple to complex, from traditional financial paradigms to blockchain paradigms.

ICO (Initial Coin Offering) is a milestone in the trading model, making it possible to finance projects through token exchanges. Although simple, ICOs still attracted a lot of institutional investors during the 2015–2017 bull market.

Subsequently, the industry’s demand for on-chain matching trade models led to the birth of the AMM (Automated Market Maker) model. The AMM model was widely popular during the 2020–2021 DeFi craze, adopting this model for spot, derivatives trading, and lending.

However, the AMM model is not the best paradigm for derivatives trading and does not reflect the decentralized spirit of blockchain algorithmic pricing and risk sharing. Therefore, the SCP (Smart Contract Counterparty Model) was created: an algorithmic pricing model where all traders are buyers and the contract is the only seller. This model solved the two major problems of pricing and liquidity, eliminating the need for matching and market makers, achieving decentralization while providing a commission-free, no slippage, and unlimited liquidity trading experience, which is a revolutionary change to the traditional financial paradigm.

In summary, we expect the new bull market to be ignited by new asset models, followed by new trading models leading the industry to further development. More professional institutional investors will enter the industry, forming a large market capable of competing with traditional finance. In this process, technological innovation will be the core and key to driving industry development.

In the current tech craze and wave of decentralization, we often find ourselves bound by existing viewpoints, overlooking the importance of examining cryptocurrencies and the asset lineage from a fresh and counterintuitive perspective. Today, I invite you to step out of the conventional thinking framework, revisit the asset lineage of cryptocurrencies, and challenge our inherent understanding of the relationship between decentralization and centralization.

Let’s embark on this counterintuitive adventure, starting from an unexpected point — stocks and bonds. Despite cryptocurrency enthusiasts tending to view these traditional assets as tainted with centralization, in reality, these traditional, fully centralized assets actually occupy the top of the lineage. Their existence and value are supported and regulated by governments and large financial institutions, which, while seemingly a weakness in the cryptocurrency realm, also represents their greatest strengths: stability and reliability.

Digging deeper, we encounter collateralized assets like WBTC and USDT. These assets attempt to anchor the value of traditional financial assets through decentralized technological means, thereby building a bridge between decentralization and centralization. Their existence demonstrates that even in a decentralized world, the stable value of centralized assets still holds significant importance.

As we delve further, Layer 2 solutions, BNB, ArithFi, and other DPOS projects become the focus. These projects strive to maintain the decentralization ethos while introducing a degree of centralized mechanisms to improve transaction efficiency and network scalability. This stage of assets illustrates the compromises and balances between efficiency and practicality in the pursuit of decentralization in the cryptocurrency world.

Then, our attention shifts to Bitcoin (BTC) and Ethereum (ETH), the two flags of decentralization. They represent the ultimate pursuit of the decentralization principle in the cryptocurrency world. Yet, even such extremities face challenges in scalability, efficiency, and governance.

Can the division between decentralization and centralization serve as a fundamental standard for the viability of assets? No. In fact, the key to determining the nature of assets lies in the underlying game structure. Bitcoin (BTC), as the first example of an asset formed through a miner-based game mechanism, paved the way for cryptocurrencies. Although many projects have attempted to mimic BTC's game structure, claiming they could replace BTC, only BTC has truly become an asset, with imitators gradually being phased out by the market.

Ethereum (ETH) proposed a different game structure from BTC, incorporating the developer community into the game, and successfully formed a balanced asset. The common success factor for BTC and ETH lies in their innovation and unique game structures.

Building on this, ArithFi introduces the Smart Contract Participant (SCP) model, bringing new innovation to the cryptocurrency market. ArithFi's balanced asset (ATF) is achieved through a game process involving both miners and traders. This game structure provides ATF with a risk-reward structure different from BTC and ETH. Unlike traditional fixed issuance mechanisms, ATF's issuance model aims to offer traders lower transaction costs while requiring them to bear certain risks. For instance, in futures trading, traders' profits are realized through additional issuance of ATF, while losses are balanced by destroying ATF.

ArithFi's unique trading model and issuance mechanism have the potential to make it the third type of decentralized asset following BTC and ETH. It provides new liquidity and risk management mechanisms for derivative trading, offering traders lower transaction costs. These innovations showcase the rationality and potential value of ArithFi as a new type of asset.

By re-examining the asset lineage, we not only challenge the traditional understanding of decentralization and centralization but also reveal that in the cryptocurrency world, the game structure is the core element distinguishing assets. This in-depth exploration offers us a new perspective on the future development of cryptocurrencies.

Imagine you’re a crypto futures trader at a centralized exchange (CEX). You decide to leverage $1000 at 50x to open a position. The moment you click “open,” you’re already down approximately $45 (4.5%). Of this, $25 is lost to futures trading fees, padding the exchange’s profits, while $20 vanishes due to price slippage, pocketed by market makers. It’s the harsh reality of trading costs at a CEX, a legacy model borrowed from traditional finance, neglecting blockchain’s potential to reduce costs.
CEXs have shareholders; they aim for profits, and trading fees inevitably line their pockets. This isn’t inherently wrong, but it is problematic: Centralized exchanges lack a real incentive to cut traders’ costs. Blockchain’s promise of security and decentralized governance could disrupt this paradigm. Imagine eliminating market makers and liquidity providers (LPs) from financial transactions, leveraging blockchain to slash derivative trading costs fundamentally.
Some decentralized exchanges (DEXs), like GMX, have already removed market makers, using oracles to provide price feeds for futures trades without slippage, regardless of trade size. Yet, they still rely on LPs to provide liquidity for settlements. To attract sufficient LPs, these DEXs often offer staggering annual yields, ranging from 30% to 500%. But, as the saying goes, “There’s no such thing as a free lunch.” These high-interest costs for LPs are ultimately borne by traders, resulting in trading fees several times higher than those at CEXs. So while market makers are out, high overall trading costs remain due to LPs.
ArithFi’s vision is to eradicate both market makers and LPs from derivative trading. By utilizing oracles for pricing and conducting transactions and settlements in token standards instead of fiat, the user and the entire system (smart contracts) act as counterparts. This model, known as the Smart-contract Counterparty (SCP) Model, eradicates slippage and trading fees. It attracts users with its low-cost trading experience, and in turn, a multitude of users provide liquidity for the system. This risk-sharing model is a feat only possible through blockchain technology, stripping away financial intermediaries and aligning with the decentralized, anti-elitist ethos of crypto.
No exchange today can offer zero-trading-fee and zero-slippage trading — it’s an achievement fundamentally unattainable with traditional models. ArithFi represents the future, on the verge of ushering in an era of low-cost derivatives trading.

يسأل العديد من المستخدمين كيف تتمكن ArithFi، مع تقديمها لرسوم صفرية وانزلاق صفري في تداول العقود الآجلة، من كسب المال. الجواب هو أن ArithFi لا تحتاج إلى تحقيق أرباح.

ArithFi تعمل على نموذج عملة، وليس نموذج شركة. على عكس الشركات التقليدية، فإنها لا تسعى لتعظيم فوائد المساهمين. بدلاً من ذلك، تولد قيمة من خلال تقديم خدمات التداول واستغلال نموذج اقتصاد التوكن الفريد الخاص بها.

يهدف ArithFi إلى تطوير توكن ATF الخاص به ليصبح الفئة الثالثة من الأصول بعد BTC و ETH من خلال تقديم خدمات تداول المشتقات. لذلك، فإن جوهر ArithFi هو إعطاء قيمة لتوكن ATF، بدلاً من توليد أرباح ثابتة.