Nunchi x Ethena Rewards are LIVE

PERPS ON YIELD

A perpetuals exchange for the invisible currents of finance. Trade the unseen.

A perpetuals exchange for the invisible currents of finance. Trade the unseen.

Read the docs

Read the docs

Read the docs

Get cHIPs™

Get cHIPs™

Get cHIPs™

House All of Finance

House All of Finance

House All of Finance

RISE OF THE

RISE OF THE

YIELD EXCHANGE ON HYPERLIQUID

YIELD EXCHANGE ON HYPERLIQUID

Perpetual access to the heartbeat of DeFi. No expiry. No rollovers. Just pure, liquid yield.

Perpetual access to the heartbeat of DeFi. No expiry. No rollovers. Just pure, liquid yield.

Read the docs

Read the docs

Read the docs

Why Nunchi?

Why Nunchi?

Why Nunchi?

THE ONLY PLACE

THE ONLY PLACE

TO SHORT YIELDS

TO SHORT YIELDS

Take Positions you are unable to take anywhere else in DeFi.

Take Positions you are unable to take anywhere else in DeFi.

Who trades on the YEX?

Who trades on the YEX?

Who trades on the YEX?

THE YIELD CURVE ONCHAIN

THE YIELD CURVE ONCHAIN

BUILT FOR A NEW CLASS OF TRADER

BUILT FOR A NEW CLASS OF TRADER

Whether you're optimizing institutional-size risks, building the next-gen vault, or macro-trading for alpha, Nunchi gives you the tools to trade the most fundamental force in finance.

Whether you're optimizing institutional-size risks, building the next-gen vault, or macro-trading for alpha, Nunchi gives you the tools to trade the most fundamental force in finance.

GLOBAL MACRO TRADERS

GLOBAL MACRO TRADERS

THE FED IS NOW ONCHAIN

Go long or short U.S. sovereign yield from any wallet, 24/7. Trade your view on FOMC decisions, inflation prints, and global risk appetite. No brokerage account required.

PROTOCOL BUILDERS

PROTOCOL BUILDERS

THE MISSING RISK-MANAGEMENT INFRA

Stop building products on a foundation of volatile yield. Integrate our yield perps to offer your users synthetic fixed-rate, impermanent loss hedges, and sophisticated structured products.

PERPS TRADERS

PERPS TRADERS

YOUR NEW ALPHA IS THE YIELD CURVE

Go beyond price. Trade the basis, arb the funding curve, and monetize the skew. Nunchi means your edge is no longer just delta.

DAOs & TREASURIES

DAOs & TREASURIES

TURN VOLATILITY INTO PREDICTABILITY

Hedge your yield, lock in your T-Bill returns, and protect your runway from macro shocks. Transform a volatile, floating APY into a synthetic fixed-rate coupon.

Working with the best