The blockchain analytics powerhouse Arkham Research is making a bold move into the cryptocurrency trading space with the launch of its own perpetual contracts exchange. Known for its cutting-edge on-chain intelligence tools and data dashboards, Arkham is now expanding its footprint by offering a fully integrated trading platform that combines real-time transparency with advanced market functionality.
This strategic expansion marks the company’s first direct foray into crypto derivatives trading — a rapidly growing segment of the digital asset ecosystem. The new exchange is set to go live next Wednesday, with early registration now open for interested users.
A Transparent Trading Experience Built on On-Chain Trust
Arkham’s upcoming exchange promises a unique value proposition: real-time on-chain audits, verifiable proof of reserves, and seamless integration with its widely used data dashboard. This convergence of analytics and trading infrastructure positions the platform as a trusted destination for both retail and institutional traders who prioritize transparency.
Unlike many centralized exchanges that operate with opaque backend systems, Arkham aims to set a new standard by allowing users to independently verify exchange reserves and monitor fund movements directly on the blockchain. This level of accountability addresses long-standing concerns about solvency and security in the crypto industry.
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The exchange will support both spot and perpetual contract (perps) trading pairs, giving users flexibility in their trading strategies. Perpetual contracts — often referred to as "perps" — are derivative instruments without expiration dates, allowing traders to maintain leveraged positions indefinitely through a funding rate mechanism.
Understanding Perpetual Contracts: The Backbone of Modern Crypto Derivatives
Perpetual contracts have become one of the most popular tools in the crypto trader’s arsenal. Unlike traditional futures, which settle on a fixed date, perps allow traders to hold long or short positions indefinitely. This makes them ideal for speculative plays, hedging strategies, and leveraging exposure without owning the underlying asset.
The key innovation behind perpetual contracts is the funding rate — a periodic payment exchanged between long and short position holders. When the contract price trades above the spot price, longs pay shorts (positive funding rate), incentivizing selling pressure. Conversely, when the price trades below spot, shorts pay longs (negative funding rate), encouraging buying activity. This mechanism helps keep the contract price closely aligned with the market value of the underlying asset.
Platforms offering perps typically provide high leverage — sometimes up to 100x — amplifying both potential gains and risks. As such, they are best suited for experienced traders who understand risk management principles.
From Intelligence Hub to Full-Service Exchange
Arkham has built a strong reputation in the blockchain analytics space, particularly through its flagship product: the Arkham Intelligence Dashboard. Used extensively across the industry, this tool enables users to track wallet activity, identify entity affiliations, and uncover hidden connections within complex on-chain transactions.
Now, by integrating its data engine directly into the trading platform, Arkham is creating a powerful feedback loop where traders can act on real-time intelligence. Imagine spotting unusual inflows into a known whale wallet and being able to place a leveraged trade instantly — all within the same interface.
This synergy between data and execution could redefine how informed trading decisions are made in the decentralized world.
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Controversial Roots: The Intel Exchange Legacy
Arkham’s journey hasn’t been without controversy. In 2023, the company launched Intel Exchange, a marketplace where users could buy, sell, and trade on-chain intelligence to identify the real-world entities behind anonymous crypto wallets.
While praised by some for enhancing market transparency and enabling researchers to monetize their findings, Intel Exchange drew sharp criticism from privacy advocates. Critics labeled it a “dox-to-earn” system, arguing it incentivized invasive tracking and potential harassment of individuals.
CEO Miguel Morel defended the platform, stating:
“Intel Exchange is creating a liquid market so on-chain researchers can more easily monetize their work and share information.”
One notable success story involved an anonymous investigator known as ErgoBTC, who earned 9,519.26 ARKHM tokens (worth approximately $4,950 at the time) for identifying wallets linked to Do Kwon, founder of the collapsed Terraform Labs.
Despite the ethical debates, Intel Exchange demonstrated strong demand for actionable on-chain intelligence — a demand that Arkham is now building upon with its new exchange.
Market Momentum and Token Surge
The announcement of the new exchange has already triggered market excitement. ARKM, Arkham’s native utility token, surged 24% in a single day, outperforming most other utility tokens during a broader market rebound.
According to The Block’s price tracker, this rally coincided with increased optimism in the crypto sector following political developments, including former President Donald Trump’s nomination announcement on election day — a moment that sparked renewed institutional interest in digital assets.
ARKM’s price movement reflects growing investor confidence in Arkham’s ability to transition from an analytics provider to a full-fledged financial platform.
Availability and Regulatory Considerations
While the exchange is poised for global adoption, it will not be available in certain jurisdictions, including the United States. Regulatory restrictions around derivatives trading, especially leveraged products like perpetual contracts, remain stringent in several countries.
Arkham has not disclosed whether it plans to pursue regulatory approvals in restricted regions but emphasized compliance as a core principle in its development roadmap.
Frequently Asked Questions (FAQ)
Q: What are perpetual contracts?
A: Perpetual contracts are derivative products that allow traders to speculate on asset prices without an expiration date. They use a funding rate mechanism to keep prices aligned with the underlying market.
Q: Is Arkham’s new exchange decentralized?
A: While specific technical details haven’t been fully disclosed, Arkham emphasizes on-chain verifiability and transparency. It appears to be a hybrid model combining centralized trading infrastructure with decentralized accountability features.
Q: Can I trade ARKM tokens on the new exchange?
A: It is highly likely that ARKM will be listed given its role as the platform’s native token, though official listings will be confirmed at launch.
Q: Why was Intel Exchange controversial?
A: Critics argued that Intel Exchange encouraged invasive tracking of anonymous wallets, calling it a “dox-to-earn” model. Supporters view it as a way to increase transparency and reward investigative research.
Q: How do I register for early access?
A: Users can sign up via Arkham’s official website to gain early access ahead of the scheduled launch next Wednesday.
Q: Will U.S. users be able to participate?
A: No. The platform will not be available to users in the United States due to regulatory limitations on crypto derivatives.
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With over $12 million in funding from prominent backers like billionaire investor Peter Thiel and Sam Altman, CEO of OpenAI, Arkham is well-positioned to challenge established players in the crypto trading landscape.
As the lines blur between blockchain intelligence and financial services, Arkham’s evolution from research firm to exchange operator signals a new era where transparency, data, and execution converge — setting a precedent for what future crypto platforms might look like.
By embedding trust directly into the trading experience, Arkham isn’t just launching an exchange — it’s reimagining how markets can operate in a transparent digital economy.