Farming
Farm a perp DEX's volume or campaign hedged on a second venue, with the worst-case cost per $1M shown before anything opens.
Farming builds volume on a perp DEX for its points, campaigns or volume tiers, while an equal and opposite position on a second venue offsets the price moves. You set a goal, see what each $1M of volume will cost before anything opens, and approve the worst-case price. ProFunding then runs the trades on its servers until the target is met, the deadline passes, or you stop it.
Start at Farming. The in-app Guide walks through each step with sample figures, and Running a farming mission covers the planner and the mission page control by control.
How a hedged farm works
Every mission trades two legs on the same market. The farm leg sits on the venue whose volume you want counted. The hedge leg is the same size in the opposite direction on a different venue. Long on one venue and short on the other, the pair is delta-neutral: a price move gains on one leg about what it loses on the other, and the farm venue still counts every fill.
A mission runs as cycles. A cycle opens before a funding settlement, holds through one or more settlements, then unwinds both legs. The farm leg rests post-only (maker) orders, and each fill is hedged at market on the hedge venue as it lands.
Volume counts on the farm leg only. A cycle credits twice its size, once on the open and once on the close, so a $1M target means $500k of held notional turned over.
The Farming pages
| Tab | Use it to |
|---|---|
| Plan | Set a goal, pick hedge venues, read the price and approve |
| Missions | Follow running missions and review finished ones |
| Campaigns | Browse venue competitions and points programs |
| Venues | Compare fees and roles, check balances, get access on a venue |
| Guide | Read the walkthrough with sample figures |
Plan, Campaigns, Venues and Guide open without a wallet. Missions needs one.
Three ways to set a goal
| Goal | You set | How it runs |
|---|---|---|
| From a campaign | The campaign | Venue, volume and deadline come from the campaign terms. A daily campaign can run today only or every day until it closes |
| My own target | Volume (presets from $250k to $5M, or any amount), the farm venue, and a window of 3, 7, 14 or 30 days | Cycles spread over the window until the target is met |
| Until I stop | The farm venue, the market (or the cheapest each round), leverage from 1× to 10×, and how long to hold each round | Rounds repeat until you click Stop, each held to the price you approved |
On target missions the planner picks size and leverage itself, up to 3×, aiming for the fewest and largest cycles.
What a mission costs
Farming is priced per $1M of volume farmed. The server quotes it from live order books at your order size, and re-prices on every change.
| Number | What it includes | Use it for |
|---|---|---|
| Expected cost, per $1M | Trading costs minus the funding the route is expected to collect: its recent funding, discounted for how much it swings. A route with too little funding history counts none | A forecast. It moves with the market |
| Worst case | Trading costs with funding at zero, or with a funding cost added where the route's recent funding runs against the position | The price you approve |
Trading costs are venue fees and book impact on both legs, plus any builder fee. Where ProFunding's own past hedges on a venue cost more than the model, the quote uses the measured cost.
A cost has no sign: $170 means you pay $170 per $1M. When funding pays more than the fees, the label reads Expected, paid per $1M and the figure carries a plus: +$126 means you are paid $126 per $1M.
Fees scale with volume, so they are fixed by the target. Size, hold time and window change only how much funding you collect. That is why a longer window usually costs less per $1M.
What the approved price doesn't cover
- A Stop, the liquidation guard, and any part of a close still unfilled at its deadline all close at market. Those taker fills can cost more than the worst case.
- On a target mission the worst case is not a ceiling. The plan says it usually stays under a figure 10% above it. As the deadline nears the mission accepts dearer prices, and when time runs short it trades the cheapest route at whatever it costs.
- In Until I stop, a round whose worst case is more than 10% above your approved price waits.
After the first cycle closes, the mission page shows the realized price: the net cost per $1M after price, fees and funding, worked out from fills, settlements and fee reads.
Access on a venue
Before a mission can start, a venue may need one setup step: opening your account through ProFunding's referral link, or approving a builder fee. A builder fee is a small per-fill fee a venue lets an app add to the orders it routes. The plan shows the step and the rate before Start, and any builder fee is already inside the quoted price, never added on top. Each venue page lists its rate. On Extended it applies to opening orders only.
When a step is missing, the plan shows it before Start: join through the link, approve the builder fee, connect, or deposit. The venue page's Your access ladder walks the same steps in order and shows a chip:
| Chip | Meaning |
|---|---|
| READY | Builder fee approved, or account under ProFunding's referral |
| ONE STEP | One action left, such as approving the builder fee or opening the account through ProFunding's link |
| FRESH WALLET | The account is under another referral code. Register a new account through ProFunding's link from a different wallet |
| UNVERIFIED | The referral or approval can't be read back from the venue. Fine if you signed up through ProFunding's link |
| UNKNOWN | The venue didn't answer. Checked again before anything runs |
Farm venues and hedge venues
Farm venues, where the volume lands: Arcus, Aster, Entropy, Extended, Hyperliquid, Katana, n1xyz, Nado, Pacifica, Phoenix, PopDEX, QFEX, RISEx, TradeXYZ, TxFlow and Variational.
Hedge venues: Arcus, Aster, Entropy, Extended, GRVT, Hibachi, Hyperliquid, Katana, Lighter, Lighter RH, Nado, Ondo, Pacifica, Perpl, Phoenix, QFEX, RISEx, TradeXYZ, TxFlow and Variational.
The hedge is always a different venue from the farm leg. n1xyz and PopDEX are farm venues only.
| Venue | Rule |
|---|---|
| Pacifica, Phoenix, PopDEX | Crypto markets only |
| QFEX | Weekdays only, its deepest markets, and a cycle ends before the Friday close |
| Variational | Quotes each trade (RFQ) instead of keeping a book, so the maker order rests on the hedge venue and each fill takes the Variational quote |
| Aster | The account must be in One-way Mode |
| Extended | The connection must be permanent, not an expiring session |
A cycle on a stock, index, FX or commodity market closes before the underlying market reopens.
Venues and campaigns
Venues lists each venue's rewards, its round-trip fee for a farm leg in bps, its role (farm, hedge or listing only) and your balance there. A venue page adds fees by market, the order book's median spread, open campaigns, what ProFunding's own fills cost there over 30 days, and your access ladder.
Campaigns lists venue competitions read from each venue's API or announcement. Farm this opens the planner with the campaign's venue, volume and deadline filled in. A campaign page shows the terms, published tiers, and what farming it would cost at a capital you pick. The planner's quote on your real balances is the price a mission runs at. A campaign that counts taker volume only says so, and costs more to farm.
While a mission runs
- Don't deposit or withdraw on the mission's venues. Capital is fixed at Start, so moving money reads as a gain or a loss. The exception is a top-up the mission page asks for under Needs you.
- Stop flattens both legs at market and can't be undone.
- If your wallet is linked to Telegram, a target mission sends a line per finished cycle, plus low-balance, pace and liquidation notices.
Risks
- Funding is a forecast and can turn against the hedge. Plan against the worst case.
- Each venue liquidates its leg on its own. The running cycle shows the distance to liquidation, amber under 25%. Telegram warns you to add margin as it shrinks, and under 10% the mission flattens both legs.
- Higher leverage in Until I stop puts the liquidation price closer to the entry on each venue.
- A leg can be left unpaired if a hedge fails. The mission page names the open leg's side, size and venue; flatten it by hand if the automatic retry doesn't clear it.
- A balance that can't be read shows as unknown, not $0. Fees that can't be read show as Fees unread.
- The venue decides what counts toward its campaign. Check eligible markets, maker vs taker volume, and any join step before you approve.
FAQ
What is hedged farming?
It builds volume on a venue for its points, campaigns or volume tiers, while an equal and opposite position on a second venue offsets the price moves. ProFunding runs the trades on its servers until the target is met, the deadline passes, or you stop it.
What is the difference between Expected cost and Worst case?
Expected cost is a forecast per $1M of volume that subtracts the funding the route is expected to collect. Worst case prices trading costs with no funding credited, or with a funding cost where the route runs against you, and it is the price you approve.
Do I need to approve anything before farming?
Some venues need one setup step: opening your account through ProFunding's referral link, or approving a builder fee. The plan shows the step and the rate before Start, and any builder fee is already inside the quoted price.
Questions?
Ask in our Telegram chat. Traders compare pairs, venues and fills there, and the team answers questions.