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Perpetuals  ·  Rewards  ·  Self-Custody

Trade 50+ markets from one account. Earn rewards with every trade.

Perpetuals on crypto, US equities, indices, metals and energy with up to 20× leverage. Trading earns rewards you can spend on your fees. Fund with a card in minutes. Built as a zero-knowledge rollup on STRATO, so every fill is proven correct and your funds stay in your control.

Start TradingHow It Works
BTCPerpETHPerpSOLPerpNVDAPerpXAUPerpSPYPerpWTIPerpHYPEPerp50+ MarketsUp to 20×USDλbacked 1:1Maker2 bpsTaker5 bps

The Exchange

Live on testnet today.

Chart, order book, order ticket and your positions on one screen. Connect, deposit by card, and trade — on desktop or your phone.

Open the App
The Lambdachain exchange on desktop: a BTC candlestick chart, the order book, an order ticket set to buy at market, and the positions panel.

  • Everything on one screen

    Chart, depth, trades, funding and your positions — no tabs to hunt through.

  • Orders in one click

    Market and limit orders with a slippage cap, size in coin or dollars, time in force.

  • Works on your phone

    The full exchange in a mobile layout, with Buy / Long and Sell / Short a thumb away.

50+

Perpetual Markets

Crypto, US equities, indices, metals, energy

20×

Maximum Leverage

One cross-margined account

<1min

Card to First Trade

Credit card or Apple Pay, direct to the exchange

2bps

Maker Fee

5 bps taker, funding hourly

Getting Started

Start trading
in under a minute.

No seed phrase to write down, no bridge to figure out first. Fund the account the way you would fund any brokerage.

Getting startedFund with a card, bridge USDC trustlessly in seconds, or swap any token; USDλ lands in your account; trade 50+ markets from it, earning rewards as you go.Credit Card or Apple PayDirect to DEXUSDCbridge trustlessly in secondsAny token you already holdswapped in one stepUSDλ in your accounta dollar backed 1:1 by escrowed USDCBacked 1:1Start tradingTrade 50+ marketsone cross-margined accountFrom first click to first trade in under a minute
  1. 01

    Fund it

    Pay with a card or Apple Pay, send USDC from Ethereum, Base or Linea, or swap any token you already hold. USDλ lands in your account.

  2. 02

    Trade it

    Pick a market, choose long or short, set your size and leverage. Your whole balance backs every position.

  3. 03

    Earn rewards

    Every fill earns points — more for orders that add liquidity. Points redeem against your fees, and steady activity builds toward a seat: standing tiers that cut your fees and multiply the earn.

Trade Everything in One Place

BTC, NVDA, S&P 500,
gold, oil — one account.

Fifty-plus perpetual markets that never close, cross-margined against a single USDλ balance. New markets are listed continuously.

Crypto

12+
  • BTC
  • ETH
  • SOL
  • HYPE
  • XRP
  • BNB
  • DOGE
  • SUI
  • LINK
  • AAVE
  • XMR
  • ZEC
  • & more

US Equities

10+
  • NVDA
  • AAPL
  • MSTR
  • ORCL
  • INTC
  • MRVL
  • MU
  • SNDK
  • CRCL
  • NBIS
  • & more

Indices

5+
  • SPY
  • QQQ
  • US500
  • US100
  • SOXL
  • & more

Metals & Energy

5+
  • XAU
  • XAG
  • PAXG
  • WTI
  • BRENTOIL
  • & more
Max Leverage20×
Maker2bps
Taker5bps
Funding1hour

How a Perpetual Works

A position you can hold as long as you like.

A perpetual is a futures contract with no expiry. You put up margin, choose long or short, and the position gains or loses with the price of the asset. Leverage sets how large a position your margin controls; a small hourly funding payment between longs and shorts keeps the contract’s price tied to the real market.

If a position’s losses bring your account below the maintenance margin, it is closed automatically — that is the liquidation line on the chart.

How a perpetual worksA long opened with $1,000 of margin at 20× controls a $20,000 position. Profit accrues when price is above entry, loss below; the position is liquidated if price falls about 3.8% below entry; funding is exchanged hourly.Open a long here$1,000 margin × 20 = $20,000 positionEntryProfitLossLiquidation · about 3.8% below entry at 20×Funding exchanged hourly between longs and shortsLeverageMarginLiquidationUp to 20× on the majors; less on smaller markets.One balance backs every position you hold.Closed automatically below 1.2% maintenance.

Funding

The hourly payment
that keeps perps honest.

A perpetual never expires, so nothing forces its price to match the asset it tracks. Funding does that job. Every hour the exchange compares the perp’s price with the index price. If the perp has been trading above the index, longs pay shorts a small amount; if below, shorts pay longs. That nudges traders toward the cheaper side and keeps the two prices together.

In practice it is a small hourly credit or charge on your balance while you hold a position. It is paid between traders, not to the exchange, and the current rate is shown on every market before you trade and in your positions panel afterwards.

How funding worksThe perpetual's price drifts above and below the index price. Every hour, if it has traded above the index, longs pay shorts; if below, shorts pay longs. The payment is the position size times the hour's average gap, capped per market, and it is exchanged between traders.Index pricePerpetual priceAbove the index: longs pay shortsBelow the index: shorts pay longsSettled every hour, straight into your balanceLongspay when perp is above indexShortspay when perp is below indexFunding, when the perp is above the indexFunding, when the perp is below the indexExample: a $20,000 position at a 0.01% hourly rate pays or receives $2 that hour. The rate is capped per market.
  1. 01

    How much

    Your position size times the hour's average gap between the perp price and the index. A $20,000 position at a 0.01% rate is $2 for the hour. The rate is capped per market — between 0.5% and 0.75% per hour.

  2. 02

    When

    Every hour, settled straight into your balance, only while you hold a position. Close the position and the payments stop.

  3. 03

    Which way

    Longs pay shorts when the perp trades above the index; shorts pay longs when it trades below. A rate near zero means the perp is tracking the asset closely.

The Rewards Program

Every trade
earns.

When you deposit, you receive USDλ, a dollar backed one-for-one by USDC held in escrow contracts. Trading it earns points: every fill, every resting order that adds liquidity, every funding round a position sits through.

Points redeem against your trading fees, and steady activity builds toward a seat — standing tiers that cut your fees and multiply what you earn. The program is funded from the exchange’s own revenues: trading fees and the interest its reserves earn.

  • PointsEarned by activity — taker volume, resting liquidity, funding participation. Yours the moment the trade settles.
  • Fee CreditsThe workhorse redemption: points pay down your maker and taker fees, automatically if you like.
  • SeatsStanding tiers earned with sustained activity. A seat cuts your fees and multiplies your points.
The Loop
  1. 01TradePoints accrue with every fill, sized to the trade.
  2. 02MakeResting orders that add real depth earn at the higher rate.
  3. 03RedeemPoints settle against your next fees — nothing to claim.
  4. 04AdvanceSustained activity earns a seat; the seat multiplies the rest.

Rewards are a loyalty program, not interest: points are earned by activity, never for holding a balance, and they spend only inside the exchange.

How USDλ Works

One dollar, fully backed.

Your USDC goes into an escrow contract and USDλ comes out, one-for-one. Use it as margin in your trading account, and redeem back to USDC whenever you like. The dollar itself stays plain — it pays nothing for sitting still. The earning lives in the program, not the coin.

How USDλ worksYour USDC is locked in an escrow contract and USDλ is minted one-for-one. USDλ is margin in your trading account, and redeems back to USDC at any time. It pays no interest for being held.Your USDCEthereum · Base · LineaEscrow contractholds USDC one-for-oneUSDλa dollar, redeemableTrading accountmargin for perpsDepositMintsTradeWithdrawRedeem any timeOne-for-one, always — verify it on-chain

Rewards While You Trade

Fees that flow both ways.

On most venues, fees drain one way. Here each fill hands something back — points that redeem against the fees themselves, earned faster by orders that add liquidity. Nothing accrues to an idle balance: the program pays for participation, and pays the moment the trade settles.

Rewards while you tradeA points balance over time steps up at every fill during active trading sessions, and stays perfectly flat while the account is idle. Points are earned by activity, never by holding.Tradingevery fill earnsIdlenothing accrues+++++++++DepositTradeStep awayRedeem against feesPoints balancePoints land with the fill — never with the clock

Deposits & Withdrawals

Money in, in minutes.
Money out, whenever.

Three ways to deposit. Withdrawals go to a wallet you control, whenever you like, with no approval step on our side.

  1. 01

    Card or Apple Pay

    Pay with a credit or debit card, or Apple Pay. USDλ is credited to your account — no wallet, no bridge, no waiting on a chain.

  2. 02

    Stablecoins

    Send USDC from Ethereum, Base or Linea. It is held in escrow and you receive USDλ one-for-one, ready to trade.

  3. 03

    Any token

    Bring what you already hold. Swap any token into your account in a single step; the conversion and the deposit happen together.

State of the Art Bridging

In and out through the same vault.

Deposits lock USDC in a vault contract on the chain you send from, and a proof of that deposit credits USDλ to your account within seconds — trustlessly, with no one vouching for it. Withdrawals run the same path in reverse: you sign, the balance is proven on STRATO, and the vault releases USDC to your wallet. There is no approval step on our side, and if the exchange ever stopped including your withdrawal, it can be frozen after 24 hours and a proof of your balance is enough to withdraw directly from the contract.

How the bridge worksDeposit: USDC from your wallet is locked in the vault on Ethereum, Base or Linea, and a proof of the deposit credits USDλ to your account within seconds, with no one vouching for it. Withdraw: you sign a withdrawal, it is proven on STRATO, and the vault releases USDC to your wallet without any approval from the exchange.DepositYour walletEthereum · Base · LineaUSDCVault escrowUSDC locked one-for-oneWitnessedProof of deposittrustless, in secondsMintUSDλ creditedin your accountWithdrawYour accountwithdrawal signed by youProvenSettled on STRATOyour balance, checked by proofReleaseVault releases USDCno approval from usUSDCYour walletUSDC arrivesThe same vault in both directions: every USDλ is backed by USDC it holds

How It Works

A fast exchange,
with the receipts to prove it.

Lambdachain is a zero-knowledge rollup on STRATO. The order book runs off-chain for speed, like a traditional exchange. The difference is that every batch of trades comes with a cryptographic proof that the rules were followed, and that proof is checked on-chain before anything settles. You get the speed of a centralised venue and the guarantees of a smart contract.

How trades are provenYour signed order is matched by the order book in milliseconds, batched into a block, and independent provers — anyone can run one — produce a zero-knowledge proof that the block followed the rules. The STRATO contract verifies the proof and finalises balances.Your ordersigned by your keyOrder bookmatched in millisecondsBlock of tradesevery few secondsProverProverProverPermissionless proving networkZK proofSTRATO contractverifies · balances finalMillisecondsSecondsMinutes
  1. 01

    You place an order

    Orders are signed with your key and accepted by the sequencer in milliseconds. Limit, market, reduce-only — the order types you expect from a professional venue.

  2. 02

    The book matches it

    A central limit order book with price-time priority. Your whole account is cross-margined, funding settles hourly, and positions below maintenance margin are liquidated by a fixed, published rule.

  3. 03

    Every block is proven

    Trades are batched into blocks, and each block gets a zero-knowledge proof that the matching, margin checks and liquidations followed the rules exactly. Anyone can run a prover; nothing about the exchange's history is private to us.

  4. 04

    STRATO settles it

    The settlement contract on STRATO verifies the proof and finalises balances. Deposits arrive from Ethereum, Base or Linea and are held in escrow contracts, not by the exchange.

What That Means for You

Three things we cannot do, by design.

  • We cannot cheat on your fills

    Because every block is proven, we cannot reorder your orders, fill you at a worse price than the book showed, or fill an order you already cancelled. If we did, the proof would fail and the block would be rejected.

  • We cannot touch your funds

    Collateral sits in escrow contracts on the settlement chain. Withdrawals are authorised by your key, not by us, and there is no admin key that can move your balance.

  • We cannot stop you from leaving

    You can submit a withdrawal straight to the settlement contract, and the exchange must include it within 24 hours. If it does not, the exchange can be frozen and a proof of your balance is enough to withdraw directly from the contract — open positions valued at the last mark, and anyone can submit the proof for you.

Roadmap

What’s coming next.

Every new product settles on the same account and the same USDλ balance you already hold.

  1. I

    More perpetuals

    New markets listed continuously, across every sector on the board.

    Ongoing
  2. II

    Options

    Calls and puts on the same cross-margined account, settled in USDλ.

    Next
  3. III

    Prediction markets

    Markets on outcomes, created by anyone, resolved on the same rails.

    Next
  4. IV

    Public vaults

    Deposit into trading strategies run by others, with every trade the vault makes proven like any other.

    Planned
  5. V

    Spot markets

    Buy and hold the asset itself, alongside the perpetuals, from the same balance.

    Considered

Questions

Plain answers.

Anything not covered here, ask us at access@lambdachain.xyz.

What is Lambdachain?

A perpetual futures exchange built as a zero-knowledge rollup on STRATO. You trade 50+ markets from one cross-margined account, you earn rewards as you trade, and every trade is proven correct before it settles.

What can I trade?

Perpetual futures on crypto (BTC, ETH, SOL, HYPE and more), US equities (NVDA, AAPL, MSTR and more), indices (S&P 500, Nasdaq 100), metals (gold, silver) and energy (WTI, Brent). Leverage is up to 20× on the majors and varies by market. New markets are listed continuously; options, prediction markets, public vaults and spot are on the roadmap.

What are the fees?

2 basis points for makers and 5 basis points for takers. Funding is exchanged between longs and shorts every hour. There are no deposit fees; card deposits carry the processor's fee, shown before you pay.

What is USDλ?

USDλ is the exchange's dollar. Every USDλ is backed one-for-one by USDC held in escrow contracts on the settlement chain, and redeems back to USDC whenever you like. Holding it does not pay interest — earning on Lambdachain happens through the rewards program, by trading.

How do rewards work?

Points are earned by activity: taker volume, resting orders that add real liquidity, and positions held through funding. They redeem against your trading fees, and steady activity builds toward a seat — standing tiers that cut fees and multiply your points. The program is funded from the exchange's own revenues, including interest earned on escrow reserves, with shares reserved for the provers, the insurance fund and the treasury. Points are not interest: nothing accrues for sitting still, and points spend only inside the exchange.

Is it self-custodial?

Yes. Your account is controlled by your key. Deposits sit in escrow contracts, not with the exchange, and withdrawals are authorised by you. If the exchange ever stopped including your withdrawal, it can be frozen after 24 hours and a proof of your balance is enough to withdraw directly from the contract.

How do I fund an account?

With a credit or debit card or Apple Pay, with USDC from Ethereum, Base or Linea, or by swapping any token you already hold into your account. Card and swap deposits arrive in minutes; USDC bridged from Ethereum, Base or Linea is proven trustlessly and arrives in seconds.

What does testnet mean?

The exchange is live on the STRATO testnet with play money, so you can trade, deposit and withdraw the real flow without real funds at risk. Mainnet is next.