QFEX

QFEX is a hybrid perpetual futures exchange for traditional financial assets, with markets that run around the clock and use external market makers. It runs a central limit order book with price-time priority, a speed bump against latency arbitrage and circuit breakers. Order matching, margining and liquidations run on off-chain infrastructure, while supported stablecoin deposits and withdrawals settle on public blockchains. Perpetual futures are margined in USDC on Arbitrum. Contracts cover large-cap US equities, indices, FX pairs and commodities. QFEX publishes API documentation for programmatic trading. Its client agreement describes the venue as a multilateral trading facility operated by QFEX Inc. The company says it aims to serve banks, hedge funds and family offices.