# About Spaces Research

Updated: 24 September 2026 / Spaces Research

Spaces Research is the editorial team behind spacesdao.org. We compare perpetual futures venues —
hybrid exchanges that match orders off-chain and settle on a blockchain, and order-book DEXs that run
the whole book on-chain — on six things a trader can check: trading cost, measured liquidity, custody
and settlement, security record, market coverage and access.

## Who pays for the comparisons

These comparisons are commissioned work. A venue compared on this site may be the sponsor behind the
page comparing it, and Spaces Research does not present itself as a disinterested party — not on
this page, not in a footnote, not anywhere else on the domain. A reader should weigh what follows in that light.

Where the arrangement stops is the arithmetic. Six criteria and their weights were settled on
18 September 2026, before a venue had been scored against them, and they sit in full on
[How we rate](/methodology). Every total is those weights applied to figures that carry a source
and a date; a page condition decides which venues appear and never what a criterion is worth; and
each venue in a comparison, the one standing first included, carries at least two drawbacks taken
from its own documentation or from the public record. No row is set apart with a badge, a colour
or a border of its own.

## How we work

- Venue facts — fees, markets, leverage limits, restricted countries, audits — are taken from each
  venue's own documentation and terms, and every fact on a page carries the date we checked it.
- Liquidity is measured, not quoted: the public BTC perpetual order book of 28 venues is read
  every 10 minutes, and every median printed carries the number of snapshots behind it.
- Third-party numbers come from primary data providers only: CoinMarketCap for open interest and
  24-hour volume, CertiK Skynet for audit records. Market counts come from each venue's own
  documentation and trading terms.
- Every ranking uses the single formula described on [How we rate](/methodology). Page conditions,
  such as "for beginners", filter which venues appear; they never change the weights.
- A figure is dated by the day it was taken, never by the day the page was last touched: a reading
  that has not been repeated keeps the date of the reading behind it.

## What we do not do

We do not give investment advice, manage money or execute trades for readers. Leverage shortens the distance between the entry price and the liquidation price, and the whole margin sits inside that distance.
We do not publish ratings that are not backed by a formula and dated data.

## The spacesdao.org domain

From 2022 to early 2025 this domain hosted SpacesDAO, a project that helped independent owners
open Solana Spaces retail locations. That project is closed. Spaces Research has no connection
to SpacesDAO, Solana Spaces or the Solana Foundation, and nothing on this site speaks for them.

## Contact and corrections

Write to editorial@spacesdao.org. If a fact on a page is wrong, send the page address and a
link to the source that shows the correct value; corrected pages carry a new date.

Spaces Research, 24 September 2026. Corrections: editorial@spacesdao.org.

Publication on this site is commissioned and paid for, and a venue compared here may be the sponsor behind the page.