The first professional-grade, on-chain rates market. Backed by @coinfund, @auros_global, @FlowTraders, @speedinvest, @Keyrock, @Re7Capital
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Rho introduces fixed-rate perps
Each order combines two legs in one Rho workflow. The perp is routed through Rhoβs aggregator to Hyperliquid liquidity, while Rho X locks in the funding rate upfront. Economically, the combined position works like a synthetic term future built on perp liquidity.
With Rho Perps you can:
π΅ Go long or short across supported perpetual markets
π΅ Fix the funding leg until monthly expiry
π΅ Track positions, orders, trades and funding history from the same account
Collateral can remain on-chain or be pledged in segregated custody through Rhoβs Off-Exchange Settlement
Trade fixed-rate perps: x.rho.trading/perps/
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β
Epochs 24β26 Distribution Complete β
Three more epochs have officially wrapped up, with 1,000,000 Rho Points distributed in each - 3,000,000 in total across the community.
Distributions ran on schedule every week β we just owe you the updates, so here's the catch-up.
Three epochs in, the top of the board keeps getting tighter - every point counts toward your next move up.
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Twenty-Third Epoch Distribution Complete β
Epoch twenty-three has officially wrapped up, with another 1,000,000 Rho Points distributed across the community.
The leaderboard is getting more competitive with every epoch β keep stacking points and climbing the ranks.
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π Weekly Recap | Aug 24 β Aug 30
π΅ Twenty-Second Epoch Distribution Complete β another 1,000,000 Rho Points distributed to the community
β x.lingyaoai.com/Rho_Labs/status/209185β¦
π΅ Rho X now offers USD SOFR futures
β x.lingyaoai.com/Rho_Labs/status/209289β¦
Stay tuned and trade on Rho X β x.rho.trading/?utm_source=x
US Rates Just Went Onchain
Rho X now offers USD SOFR futures through its order book, with margin and settlement in USDC. Traders can use the market to express a view on the path of Fed policy or hedge exposure to floating USD rates.
Each contract represents the difference between the fixed rate quoted at entry and realised SOFR through expiry. Payers pay fixed and receive realised SOFR, while receivers receive fixed and pay realised SOFR. Positions are marked to market throughout the term.
SOFR is the New York Fed-administered benchmark for overnight borrowing against US Treasury collateral and a reference rate across the dollar financial system.
USD rates exposure has been managed through traditional derivatives exchanges and institutional OTC swap markets. Rho X brings the trade onchain.
Trade the live 16 December 2026 expiry:
x.rho.trading/funding/SOFR-Uβ¦
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US Rates Just Went Onchain
Rho X now offers USD SOFR futures through its order book, with margin and settlement in USDC. Traders can use the market to express a view on the path of Fed policy or hedge exposure to floating USD rates.
Each contract represents the difference between the fixed rate quoted at entry and realised SOFR through expiry. Payers pay fixed and receive realised SOFR, while receivers receive fixed and pay realised SOFR. Positions are marked to market throughout the term.
SOFR is the New York Fed-administered benchmark for overnight borrowing against US Treasury collateral and a reference rate across the dollar financial system.
USD rates exposure has been managed through traditional derivatives exchanges and institutional OTC swap markets. Rho X brings the trade onchain.
Trade the live 16 December 2026 expiry:
x.rho.trading/funding/SOFR-Uβ¦
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π Weekly Recap | Aug 17 β Aug 23
π΅ Twenty-First Epoch Distribution Complete β another 1,000,000 Rho Points distributed to the community
β x.lingyaoai.com/Rho_Labs/status/208931β¦
Stay tuned and trade on Rho X β x.rho.trading/?utm_source=x
β
Twenty-First Epoch Distribution Complete β
Epoch twenty-one has officially wrapped, with another 1,000,000 Rho Points distributed to the community
Competition on the leaderboard keeps getting tighter, and every point can make a difference
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π Weekly Recap | Aug 10 β Aug 16
π΅ Twentieth Epoch Distribution Complete β another 1,000,000 Rho Points distributed to the community
β x.lingyaoai.com/Rho_Labs/status/208677β¦
π΅ RWA Funding Fee Update
β x.lingyaoai.com/Rho_Labs/status/208750β¦
Stay tuned and trade on Rho X β x.rho.trading/?utm_source=x
RWA Funding Fee Update
Starting Friday, August 14, Rho X will update the base fee inputs for non-crypto funding futures across commodities, equities, and FX perpetual funding.
π΅ Taker: 40 bps, up from 10 bps
π΅ Maker: 20 bps, up from 5 bps
The existing fee formula remains unchanged:
Trade Fee = Notional Γ Base Fee Input Γ TimeFactor
Crypto funding futures will remain on their current fee schedule.
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RWA Funding Fee Update
Starting Friday, August 14, Rho X will update the base fee inputs for non-crypto funding futures across commodities, equities, and FX perpetual funding.
π΅ Taker: 40 bps, up from 10 bps
π΅ Maker: 20 bps, up from 5 bps
The existing fee formula remains unchanged:
Trade Fee = Notional Γ Base Fee Input Γ TimeFactor
Crypto funding futures will remain on their current fee schedule.
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Twentieth Epoch Distribution Complete β
Epoch twenty is officially complete, with another 1,000,000 Rho Points distributed across the community
The leaderboard is getting even more competitive, and every point matters as the race continues
Share your score below π
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π Weekly Recap | Aug 3 β Aug 9
π΅ Nineteenth Epoch Distribution Complete β another 1,000,000 Rho Points distributed to the community
β x.lingyaoai.com/Rho_Labs/status/208422β¦
π΅ Oil Funding Futures Are Live
β x.lingyaoai.com/Rho_Labs/status/208456β¦
π΅ Rho introduces fixed-rate perps β Try it!
β x.lingyaoai.com/Rho_Labs/status/208426β¦
Stay tuned and trade on Rho X β x.rho.trading/?utm_source=x
Oil Funding Futures Are Live
Rho X lists funding-rate futures tied to Brent and WTI perp markets:
π΅ Hyperliquid XYZ: Brent and WTI
π΅ Binance: WTI
All three contracts mature on 17 August 2026
Trade on Rho X: x.rho.trading
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Have you tried Rho Perps already?
Share your thoughts π
Rho introduces fixed-rate perps
Each order combines two legs in one Rho workflow. The perp is routed through Rhoβs aggregator to Hyperliquid liquidity, while Rho X locks in the funding rate upfront. Economically, the combined position works like a synthetic term future built on perp liquidity.
With Rho Perps you can:
π΅ Go long or short across supported perpetual markets
π΅ Fix the funding leg until monthly expiry
π΅ Track positions, orders, trades and funding history from the same account
Collateral can remain on-chain or be pledged in segregated custody through Rhoβs Off-Exchange Settlement
Trade fixed-rate perps: x.rho.trading/perps/
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Oil Funding Futures Are Live
Rho X lists funding-rate futures tied to Brent and WTI perp markets:
π΅ Hyperliquid XYZ: Brent and WTI
π΅ Binance: WTI
All three contracts mature on 17 August 2026
Trade on Rho X: x.rho.trading
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Nineteenth Epoch Distribution Complete β
Epoch nineteen has come to an end, with another 1,000,000 Rho Points distributed to the community
The competition keeps heating up, and every point could make the difference on the leaderboard
Drop your score below π
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π Weekly Recap | Jul 27 β Aug 2
π΅ Stock Funding Rates on Rho X
β x.lingyaoai.com/Rho_Labs/status/208205β¦
π΅ Rho Perps β Coming soon
β x.lingyaoai.com/Rho_Labs/status/208242β¦
π΅ Read the article β Trading DeFi From Custody
β x.lingyaoai.com/Rho_Labs/status/208280β¦
π΅ New August 2026 maturities are now live on Rho X
β x.lingyaoai.com/Rho_Labs/status/208312β¦
Stay tuned and trade on Rho X β x.rho.trading/?utm_source=x
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π New August 2026 maturities are now live on Rho X
17 AUG 2026
π΅ Binance: CL
π΅ Hyperliquid: Brent Oil, CL
28 AUG 2026
π΅ Aster: BTC, ETH
π΅ Binance: EWY, MU, NVDA, XAG, XAU
π΅ Hyperliquid: BTC, ETH, USA500, AAPL, AMD, AMZN, BB, COPPER, CRCL, DRAM, EUR, GOLD, GOOGL, HOOD, INTC, JPY, META, MRVL, MSFT, MSTR, MU, NVDA, ORCL, SILVER, SMSN, SNDK, SP500, SPCX, TSLA, XYZ100
π Open your next positions at x.rho.trading
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Funding Risk Grows With Time
For day traders and scalpers, funding is often secondary. A position may be open for minutes or hours, leaving little time for repeated funding payments to materially affect PnL.
For long-term holders and traders running large positions, funding becomes part of the trade economics. The exposure continues even when the underlying moves in the expected direction.
π΅ The rate can change after entry, turning funding into a recurring cost
π΅ Funding is calculated on position notional, so the payment can be large relative to posted margin
π΅ Repeated payments can consume a meaningful part of PnL when a position remains open for weeks or months
π΅ In some market designs, the state used to calculate funding can itself become a target for manipulation
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A recent paper models one such attack: a trader distorts the funding state, positions on the receiving side and profits before arbitrageurs can correct it (βReveal, Correct, Then Pay: Encrypted Mempools and Perpetual Funding Security,β arxiv.org/abs/2607.13832).
The paper describes a hypothetical attack model. No such incident has been publicly observed in practice to date.
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What if you could trade perps without leaving the funding rate floating?
That is what we are building with Rho Perps. Traders will be able to open perp exposure while hedging the funding rate at a known level.
The underlying can still move, and margin and liquidation rules still apply. But the funding rate no longer remains an unknown variable in the position.
Rho Perps - coming soon
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