MrZay3/

solana-perps-cex-vs-dex-report

	Why Traders Still Choose CEX Perps — and the One Number That Would Move Them




	


	A measured CEX vs Solana-DEX perpetuals teardown

Measured live 2026-08-06 ~07:45 UTC. All figures pulled from public APIs, reproducible via the script below.

The debate is usually framed as fees, UX and self-custody. Measured, those are NOT the binding constraint. The binding constraint is the cost-of-carry model:

Binance SOL-USDT perp funding, trailing 200 funding… See the full description on the dataset page: https://huggingface.co/datasets/MrZay3/solana-perps-cex-vs-dex-report.