Mycelium Perpetual Swaps on Arbitrum

3 min readAug 24, 2022


NOTE: Since the launch of Mycelium Perpetual Swaps on Arbitrum, we have changed our fees to be cheaper and more transparent, a full overview is here.

Mycelium Perpetual Swaps is live on leading Ethereum scaling solution, Arbitrum.

As an industry first on Arbitrum, Mycelium Perpetual Swaps has deployed markets for DeFi tokens CRV, BAL, and FXS for users to trade on. Blue chip DeFi tokens BTC, ETH, LINK, and UNI will also be on the trading platform, making Mycelium Perpetual Swaps the home of the largest range of perpetual swaps markets within the Arbitrum ecosystem.

Building on Arbitrum’s low-cost and robust scaling platform, the Mycelium Perpetual Swaps product delivers extremely low trading fees at 0.03% entry and exit fees, which is on average 50% cheaper than centralized competitors.

Mycelium is also excited to announce that Arthur Hayes, Co-Founder of BitMEX and the ‘Father of Perpetual Swaps’ has been advising Mycelium on an ongoing basis. Arthur’s advice and support to the team has been immeasurable in helping them deliver a new financial product that provides choice to the market.

Similar to a future where traders can take a position based on the future price of an asset, the Perpetual Swaps mechanism allows traders to take this price position at an unspecified point in the future, making it ‘perpetual’ or unable to expire.

Mycelium Perpetual Swaps allows users to gain leveraged exposure to blue chip crypto-assets at up to 30x, and all traders trade against the Mycelium Liquidity Pool (MLP), which is a basket of pooled assets, which acts as a global AMM for leveraged trading. This global MLP mechanism eliminates the counter-party risks that are inherent in traditional derivatives markets.

Mycelium is no stranger to market-leading product launches. Mycelium’s first derivative product, which launched in 2021 under the brand name Tracer is a new derivative primitive called Perpetual Pools, allowing users to trade without liquidations, or margin. The Pools mechanism uses an innovative model to rebalance long and short positions, protecting traders from liquidations, and unlocking opportunities to trade long-term leveraged positions compared with traditional derivatives (like Perpetual Swaps) that optimize for short-term trades (<1 day). Over the last year, Perpetual Pools has seen over $800M USD in trade volume on the platform.

Mycelium is proud to partner with Arbitrum for the launch of their second DeFi derivative product on the leading Layer 2 platform. Mycelium Perpetual

Swaps are live to trade now.

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