Austin King on Perp DEXs, Funding Rate Arbitrage, and Why Crypto Is Becoming More Rational | Ep. 503

In an exclusive interview with Cryptonews, Austin King, Founder of Nomina, shared a wide-ranging perspective on the evolution of crypto markets, the rise of perpetual decentralized exchanges (Perp DEXs), and why today’s market downturn may ultimately strengthen the industry. Drawing on his background as a Harvard-trained computer scientist and former Ripple entrepreneur, King argues that crypto is undergoing a long-overdue shift toward rational business models, real revenue, and tools that traders genuinely need.

King explains that while speculative excess is being washed out, innovation continues at full speed. Perp DEXs, in particular, are seeing explosive growth, processing tens of billions of dollars in volume and attracting both builders and capital. According to King, this environment is ideal for strategies like funding rate arbitrage, where traders remain delta neutral and profit from inefficiencies in perpetual futures markets rather than price direction. These strategies, once limited to sophisticated desks, are now becoming accessible through platforms like Nomina, which simplifies execution, analytics, and risk management into a single interface.

Austin King on Why Delta-Neutral Strategies and Real Revenue Matter

A core theme of the conversation is that crypto is moving away from hype-driven narratives and toward sustainable value creation. King believes that prolonged price declines will hurt short-term, marketing-led projects, but ultimately benefit teams focused on durable products and real users. He points to revenue-generating protocols and infrastructure plays as the future winners, while warning that altcoins without clear economic foundations may not survive the next 18 months. In this context, Nomina’s focus on delta-neutral funding rate arbitrage reflects a broader trend: traders want exposure to crypto’s growth without being wiped out by volatility.

Looking ahead, King is cautiously optimistic about AI in finance, but skeptical of fully autonomous trading agents in the near term. While AI will eventually transform financial advisory services, he argues that today’s priority should be better tools, clearer data, and simpler workflows. As traditional assets, derivatives, and even equities move on-chain, King envisions platforms like Nomina evolving into a “Bloomberg for the on-chain economy,” offering traders and investors a unified way to navigate decentralized financial markets.