Three levels. Educate: learn the mechanics. Compete: make weekly funding and open-interest calls, scored against the live tape. Impact: build the tools and briefs the perps economy needs. No real money, no trading — skill and research only.
Ten questions on funding, margin, liquidation and index pricing. Pass to unlock Compete.
Explain a live Hyperliquid–Binance funding spread from Perps.com in 200 words. Best explainers are published.
Predict which top-20 market carries the highest annualized funding at Friday 00:00 UTC. Scored against the live tape.
Call the largest 7-day OI change among tracked markets. Leaderboard resets weekly.
Write the pre-flight risk brief for a real builder-deployed market: oracle, liquidity, parameters.
Ship a tool on the free Perps.com / PerpAgent MCP endpoints. Best builds get directory placement.
Top markets by volume with annualized funding, open interest, and 24h move — live from Perps.com. Weekly calls close Friday 00:00 UTC.
| Market | Funding APR | Open interest | 24h |
|---|---|---|---|
| Live data temporarily unavailable. | |||
Free. You get the weekly call sheet, the leaderboard, and the Impact briefs. Sponsors and venues can back a level — ask about Season 1 sponsorship.
You're in. The first call sheet arrives before Friday.
Educational market intelligence only — not investment, legal, tax, or trading advice. Perpetual futures are leveraged and can lose money rapidly. No prizes constitute trading advice; challenge calls are research exercises only.