My strategy to farm perps DEXs while earning 50%+ APR on my capital 1. Go to @smartbitrage app 2. Click "Live" and then "platforms" to select Extended, Lighter, and Paradex 3. Then check the top funding rate arbitrage opportunities by APR 4. Pick a popular token from that list (e.g. IP, JUP) and then open a delta-neutral position for it by opening a long and a short position 5. Close it once the funding rate difference between exchanges disappears With this strategy, you can easily farm perps airdrops (even if you're not a trader) while earning a nice yield from funding rates. The goal is to generate as much trading volume as possible to get points. Here's an example for Sonic's $S token: SmartArbitrage platform shows that if you long S on Paradex and short it on Extended, you'll earn 75% APR from funding rates atm. All you have to do is follow these instructions and then close the delta-neutral position when it's no longer profitable. (when the APR turns negative) I've been farming a lot of perps DEXs over the past few months in this way, including Lighter, Extended, Paradex, and Variational. My highest priority perps airdrops are currently Extended and Paradex. Use my invite links for points boosts: Extended (points boost + lower fees) Paradex (points boost + 0 trading fees) I'm farming them primarily for 3 reasons: • Both DEXs confirmed a high airdrop allocation (Extended will airdrop 30% of its token supply, and Paradex will airdrop 20%) • Their TGE timeline has been announced Extended TGE is coming in H1 2026, and Paradex TGE is expected in Q1 2026. • They still have a lot of room to grow, and their points are not hard to farm (yet) In comparison, Lighter is processing 14x more trading volume than Extended and 10x more volume than Paradex. Once Lighter launches its token in Q4 and makes a lot of ppl rich, I expect the volume of Extended and Paradex to skyrocket. I believe that tokenless perps DEXs are the best airdrop opportunities right now.