This guide comes from our partners at VOOI, a non-custodial terminal that brings perp DEXs and CEXs into one interface and opens delta-neutral pairs in a single click. Below is how to use it to farm points on Lighter, Ondo, Extended and other venues without overpaying for every point. This is not financial advice: leveraged trading carries liquidation risk.
The short version
Perp DEX points reward volume and open interest. A delta-neutral pair on VOOI gives you both, on two venues at once, without betting on price direction. Your result adds up like this:
venue points and USDC rewards + funding over the period + price spread on entry − price spread on exit − fees for 4 trades
Funding is what pays for your farm. If it covers the costs, the points are free.
So before entering, don't look at APR — look at the cost per point: (entry and exit costs − funding over the holding period) ÷ points earned over that period. Raw volume on a single exchange always costs money. A hedge across two exchanges with positive funding can cost nothing or even turn a profit.
Every rule below is a way to lower the cost per point and stack several programs on one position.
Why VOOI
Trades placed through VOOI execute on the venue itself, so points and rewards land on your venue account exactly as if you traded directly. VOOI doesn't hold funds: margin and positions sit on each exchange.
- One terminal, 12 venues. Lighter, Lighter on Robinhood Chain, Ondo Perps, Extended, Hyperliquid, trade.xyz, Kinetiq, Aster, Binance, Bybit, MEXC, Gate.
- Two legs in one click. Arbitrage Desk builds the whole pair, so you never end up with a naked directional leg.
- 24/7 bots. Up to 20 bots per account, no separate bot fee.
- One position, several programs. An Ondo ↔ Lighter on Robinhood hedge farms Ondo Points, Ondo USDC rewards and Lighter points at the same time, plus funding.
- Extras from VOOI. Referral rebates on VOOI fees and exclusive partner pools (for example, $15K VOOI × Ondo in September).
Getting started
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Go to ultra.vooi.io and connect your wallet. If you came with an invite, enter the code under Referrals to get rebates on VOOI fees.
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Enable trading on the venues you want to farm: Robinhood Lighter, Ondo, Extended, Hyperliquid. Add at least one cheap hedge venue, such as Lighter Core.
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Deposit margin on each venue. Margin on both legs should be roughly equal.
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Pick a mode:
- Arbitrage Desk — you choose the pair yourself and open it in one click;
- Arbitrage Bots — the bot finds, opens and rotates pairs on its own;
- Single Farm Scanner — the highest funding rates on a single exchange, no hedge. This is a directional position, and the price risk is yours.
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In Desk, filter for the venue with points: use the venue filter or a link like arbitrage-desk?exchanges=robinhood. Then check P Spread, Size, OI and In/Out to decide how best to open the trade.
Lighter on Robinhood Chain
The fattest program right now: Lighter has set aside 11M LIT in points for trading on Robinhood Chain. On VOOI it's listed as a separate venue, Robinhood Lighter, and has been supported since day one.
How to farm
- Farming leg: Robinhood Lighter. Hedge: Lighter Core (0 bps), Ondo, trade.xyz or Hyperliquid.
- Look for spreads in stocks, ETFs and Pre-IPO markets — that's where funding diverges most often. Examples from our posts: QQQ Lighter ↔ RH at 26% APR, INTC trade.xyz ↔ RH at 48% APR, SHEIN trade.xyz ↔ RH peaking at 3,230% APR.
- Fees on RH are asymmetric: maker 1.5 bps, taker 2 bps. Place a limit order (maker) on RH and take liquidity on Lighter Core for 0 bps.
- Double farming: an RH ↔ Ondo hedge accrues Lighter points and Ondo Points with one position. Example: ZEC Ondo ↔ RH gave ~48% APR with a positive price spread.
- Case study: a VOOI trader made $11,490 PnL in 12 hours on QQQ, NVDA and SNDK hedges across Lighter × Robinhood markets, collecting points along the way.
Standard or Premium on Lighter
Lighter accounts have a type. The default is Standard: 0 / 0 fees, but orders execute with a delay. On Robinhood Chain the taker waits 300 ms, maker orders and cancels wait 200 ms. Premium is enabled in the app settings under Account Type (via API — changeAccountTier). On Premium, maker orders and cancels have no delay and the taker waits 200 ms. In exchange, fees kick in: on RH that's 1.2 bps maker and 3.5 bps taker while your 14-day volume is under $1M. The account type is tied to your L1 address. Lighter Core and Lighter RH are separate exchanges, so the type is set on each one separately. You can switch to Premium at any time, but you can only go back to Standard 24 hours after the last change.
Right now Premium doesn't pay off for farming. According to Alekzz, Premium gives about +80% more points while costs grow roughly 2.5×. In a week he did $800K in volume, spent $510, and each point cost him $5 instead of the usual ≤ $3. So farm on Standard. Premium only makes sense if you need instant maker orders and cancels, e.g. for market making.
Ondo Perps
Ondo pays twice: Ondo Points (about 5M per week) and a weekly pool of up to $175K USDC. Points are split by volume and open interest; each epoch runs Tuesday to Monday.
How to farm
- Because OI is part of the formula, it pays to hold positions for days rather than churn volume. A bot with the Hold open interest goal fits well.
- Ondo is RWA: stocks, indices, commodities. Hedge against Robinhood Lighter (two farms at once), Hyperliquid, Entropy or a CEX. Examples: BTC Ondo ↔ Hyperliquid at 69% APR, SNDK Entropy ↔ Ondo.
- Maker on Ondo costs 1 bp, taker 2.5 bps (promo). Place limit orders on Ondo — it's cheaper.
- Watch for joint VOOI × Ondo campaigns: in September there was an exclusive $15K USDC pool and a trading competition on top of points.
Conversion of Ondo Points into a token hasn't been announced yet. The guaranteed part is USDC rewards and funding.
Extended
Extended points are in their final days. Weekly distributions have ended: as of October 6, 69.2M of 70M had been distributed. The final distribution comes after The Final Arc Trading Competition: October 7 — November 3, 2026.
What's up for grabs
- $250K in prizes for 500 winners. Ranking: PnL × Weighted Volume × OI.
- 750K Xpoints split among all qualified traders in proportion to Activity Score = Weighted Volume × OI. PnL doesn't matter here — and that's exactly the target for a delta-neutral trader.
How to farm
- Volume weights: crypto taker 100%, RWA taker 50%, any maker 10%. So on Extended, take liquidity in crypto (2.5 bps) and place your limit order on the other leg.
- OI is averaged over the entire competition. A position opened now and held to the end counts for more than the same position held for a couple of hours.
- OI is counted net per market across all subaccounts. A hedge inside Extended zeroes out your OI — the second leg has to be on another venue.
- Extended may cut points for wash trading, multi-accounting, artificial volume and bot usage. On Extended it's safer to hold a position through Desk than to churn volume with a Trade volume bot.
The competition runs until November 3, so enter as early as possible: time-weighted OI gets harder to build with every passing day.
Other perps
- Hyperliquid and HIP-3 (trade.xyz, Kinetiq). VOOI has already shared the $HYPE airdrop for S1–S2 with its users and promises to do it again. You can farm S3 both on Hyperliquid and on HIP-3 markets. Kinetiq also awards its own points. Example: BTC RH ↔ Hyperliquid at 70% APR farms Lighter points and S3 at once.
- Entropy. Pre-IPO and RWA perps: OpenAI, Anthropic, SNDK. An Entropy ↔ Robinhood Lighter hedge earns Lighter points plus activity toward an Entropy retro, e.g. ANTHROPIC RH ↔ Entropy at 25% APR.
- Lighter Core, Aster, CEXs. Use them as the hedge leg: Lighter Core is the cheapest taker, Binance and Bybit have the deepest books for large size.
How to hold OI and generate volume
Most programs reward both open interest and volume, and OI is usually time-weighted. So split your capital in two:
- OI core. About 70–80% of margin goes into a long-running delta-neutral hedge via Desk or a bot with the Earn funding or Hold open interest goal. Hold it from 12 hours to several days and let funding pay for the hold.
- Volume. The remaining 20–30% goes to a separate bot with the Trade volume goal: pairs are held for up to 4 hours and constantly reopened.
A real-world example: Alekzz held about $60K of OI for 12+ hours at a time. He opened shorts on Lighter RH, hedged them on Lighter Core, and did about $800K in volume in a week. He traded AMZN because it has the lowest OI and volume among stocks, which means your share of it is larger.
Check Price spread and Size before every rotation. A single MSFT position opened without checking the spread cost him about $200 on entry and exit.
Automation: VOOI bots
Arbitrage Bots farm while you're offline. Every minute the bot scans pairs on the selected venues, opens a long on one and a short on the other, then holds and closes according to the goal's rules. One leg always goes in as a limit order. There's no separate bot fee — only standard VOOI and venue fees.
Which goal to pick for farming
| Bot goal | Entry | Cost limit | Max hold | Best for farming |
|---|---|---|---|---|
| Earn funding | Funding spread positive for 12 h | 0.40% | 14 days | Funding + OI, minimal volume: Extended and others |
| Hold open interest | Funding spread positive for 6 h | 0.25% | 7 days | OI-weighted programs: Ondo, Lighter RH |
| Trade volume | Funding positive at entry | 0.25% | 4 hours | Volume-weighted programs: Ondo |
| Custom | You set it | You set it | You set it | Tailored to a specific program's rules |
Setting up for points
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One bot, one program. You can run up to 20 bots per account.
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In the Choose venues step, turn on Always include for the venue with points (Robinhood Lighter or Ondo). That way every pair the bot opens farms that venue.
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For the second venue, pick a cheap hedge or a second program: a Robinhood Lighter + Ondo pair farms two pools at once.
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In the Select markets step, choose US stocks, ETFs & indices and Pre-IPO for RH and Ondo — that's where funding spreads are widest.
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Margin per venue is capped by the smallest balance across venues. Keep leverage at 2–5x.
Good to know
- The bot skips markets where you already have a position. Manual trading on the same venues doesn't interfere with it.
- If you close a bot's position manually, the bot stops until you restart it. Stopping a bot closes its current pair.
- The bot closes a pair early if a leg nears liquidation or funding flips, and immediately looks for a new one.
- On Extended, bots are at risk of anti-abuse penalties — see the section above.
For advanced users. You can build your own bot on the VOOI Perps API or connect an AI agent via VOOI MCP. There are open-source examples: funding arbitrage, market making, Telegram signal bot.
Risks
- Single-leg liquidation. Each leg has its own margin. A sharp move can liquidate one leg even though the overall position is flat. Use 2–5x leverage and keep 30–40% of capital in reserve for top-ups.
- Anti-abuse. Venues cut points for wash trading, multi-accounting and artificial volume. A hedge across two different venues is not wash trading; a hedge between subaccounts on the same venue is a bad idea.
- APR is a snapshot. Spreads in the hundreds of percent last for hours and almost always sit on thin OI.
Security
- Non-custodial: VOOI never receives or stores private keys or seed phrases. Funds and positions stay in the user's wallet or on the exchange itself.
- Signatures: every transaction or message is signed by the user's wallet. Permissions can be revoked in the wallet or on the exchange.
- CEX API keys (Binance, Bybit, MEXC, Gate): keys are encrypted and stored in a separate key vault, not in the main database. VOOI services work only with a reference to the key, never with the secret itself.
- Request signing inside the vault: the secret is never returned to the main application.
- AWS KMS: encryption keys are stored separately from the data. Even a full copy of the vault database contains only encrypted data.
- Network isolation: the vault has no public IP; all access is monitored and logged.
- Recommendations for users: a dedicated API key for VOOI, minimal permissions, an IP allowlist. Access is revoked by deleting the key on the exchange.
More details in the VOOI docs: docs.vooi.io/vooi-security.