BRVX Glossary · Perp DEX · Updated September 24, 2026
A perp DEX is a decentralised exchange for perpetual futures: a venue where traders open leveraged long and short positions on perpetual contracts using a crypto wallet, with collateral and settlement handled by smart contracts or on-chain systems rather than a traditional broker account.
The formula
Wallet + Smart contract Perpetual trading
Collateral and settlement run on-chain or through smart contracts rather than a broker account.
How it works
- Connect Wallet
- Deposit Collateral
- Trade Perpetual positions
Two common designs
| Order-book perp DEX | Oracle-priced synthetic perp DEX | |
|---|---|---|
| Who is on the other side | Other traders, via a matching engine | A liquidity pool or the venue |
| Price source | The venue's own order book | External price feeds (oracles) |
| Markets | Where there is enough two-sided liquidity | Any asset with a reliable price feed, incl. stocks and forex |
| Main cost | Fees, spread, funding | Fees, funding, sometimes a price impact |
What to check on any perp DEX
- Where the price comes from and how liquidations are triggered.
- Which assets are accepted as collateral.
- The fee and funding schedule per market.
- Which countries the venue serves.
BRVX
BRVX lists synthetic USDT-settled perpetuals on 41 markets across crypto, US and Asian stocks, commodities, forex and an index. Margin can be posted in USDC, BTC, ETH, USDT, SOL or BNB, and sign-in works with a wallet or email. BRVX is not available to US persons.
Questions about Perp DEX
Is a perp DEX the same as a CEX futures exchange?
No. A centralised exchange runs accounts on its own books; a perp DEX uses wallets and on-chain systems for collateral or settlement.
Can you trade stocks on a perp DEX?
Yes, on venues that list synthetic stock perpetuals. They give price exposure only — no shares, dividends or voting rights.
How many markets does BRVX list?
41 perpetual markets, all quoted against USDT.
Perp DEX: next steps on BRVX
Perp DEX on MU/USDT today: 5x to 80x, fees 0.05% in and 0.05% out, funding 0.0034% long and 0.0034% short per hour.
Read next: Perpetual futures, Synthetic assets and Collateral.
Leverage works both ways: a small move against you can lose you the whole margin.
Open MU/USDT in the app
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