The Arcus referral code is SAGMA. It gives you a 5% discount on perpetual futures trading fees. Arcus is a decentralized exchange built by the team behind dYdX, running on Robinhood Chain. The platform offers 95 tokenized stocks with zero-fee spot trading and 35 cross-margined perpetual futures markets with up to 50x leverage. Spot is open to all eligible users. Perps are rolling out in cohorts. An Arcus token is expected but not officially confirmed. Currently active.

Join Arcus with referral code SAGMA

Arcus is the next project from the team that built dYdX — the decentralized exchange that pioneered on-chain perpetual futures before Hyperliquid. CEO Eddie Zhang leads the project. dYdX founder Antonio Juliano sits on the board.

The platform runs on Robinhood Chain, an Arbitrum-based Layer 2 built by Robinhood Crypto. This is not a branding deal — Robinhood invested in Arcus, provides the infrastructure for tokenized stock issuance with 1:1 backing, and its 25 million user base gives Arcus distribution that no other new DEX has access to.

Two products run from one self-custodial account.

Spot: 95 tokenized stocks, commodities, indices, and crypto. Zero fees. No commission. 24/7 trading. Live and open to all eligible users.

Perps: 35 perpetual futures contracts across equities, crypto, commodities, and indices. Cross-margined. Up to 50x leverage. Tiered maker/taker fees with maker rebates paid in epochs. Currently rolling out by cohort — a waitlist based on prior perps volume and referrals determines access order. Full launch planned later this year.

Spot trading on Arcus is free — zero commission on all 95 stock tokens. The referral code does not apply to spot because there are no fees to discount.

On perpetual futures, Arcus charges tiered maker/taker fees. Referral code SAGMA reduces your perps trading fees by 5%. This applies to every futures trade for as long as you use the platform.

At $2M monthly perps volume with a 0.05% taker rate: standard fees = $1,000. With SAGMA: $950. Save $50/month, $600/year.

At $10M monthly: standard = $5,000. With SAGMA: $4,750. Save $250/month, $3,000/year.

At $50M monthly: standard = $25,000. With SAGMA: $23,750. Save $1,250/month, $15,000/year.

The discount compounds with maker rebates. Active makers who earn rebates through the epoch system see the 5% reduction applied before rebates are calculated.

This is what separates Arcus from every other perps platform.

On Hyperliquid, Variational, or dYdX, your collateral is USDC or crypto. On Arcus, your tokenized stock holdings serve as margin for perpetual futures.

Buy $5,000 of NVIDIA stock tokens on spot at zero fees. Use that position as collateral for a BTC perpetual. If NVIDIA rises, your available margin increases. You are simultaneously long equities and trading crypto perps from one cross-margined account.

No other exchange — centralized or decentralized — offers this. It exists because tokenized stocks and perpetual futures settle on the same chain.

US stock markets close at 4pm Eastern. Earnings break after hours. Geopolitics moves on weekends.

Arcus makes 95 stock tokens tradable around the clock. Tesla, Apple, NVIDIA, Microsoft, Amazon, Google, gold, oil, S&P 500 — all 24/7. Zero fees on every spot trade. No commission.

One caveat worth noting: spot trades use a request-for-quote (RFQ) mechanism. There is no commission line, but the spread baked into each quote is your real cost. This is still likely cheaper than the commission-plus-spread model on other platforms, but "zero fees" means zero explicit fees — not zero cost.

Go to app.arcus.xyz/ref/SAGMA. Connect your EVM wallet. Connect your X account if prompted.

Spot trading is open to all eligible users immediately. Fund your account with USDG (Paxos-issued stablecoin) on Robinhood Chain and start trading the 95 stock tokens.

For perps, access is expanding in cohorts. Your waitlist position is based on prior on-chain perps volume from dYdX, Hyperliquid, and Lighter, plus referral activity. Connect multiple wallets to aggregate your trading history. Link a dYdX v4 address if you have one. Full perps launch is planned later this year.

Trading spot now builds on-platform activity. For protocols that track engagement, early spot volume matters.

An Arcus token has been widely anticipated given the team's history — dYdX executed one of the most valuable retroactive airdrops in DeFi. The dYdX Foundation CEO has referenced an Arcus token, and the platform structure mirrors pre-token patterns seen on dYdX and Hyperliquid.

However, allocation percentages, distribution mechanics, and a launch date have not been officially published. Treat this as a possibility worth positioning for — not a guarantee. Building spot volume, climbing the perps waitlist, and using referral code SAGMA are the activities most likely to matter if a token distribution occurs.

Robinhood Chain is an Arbitrum-based L2 built by Robinhood Crypto specifically for high-throughput financial applications. Arcus is its flagship exchange.

Every stock token on Arcus is issued by Paxos with 1:1 backing and redeemable through Robinhood's infrastructure. This is not synthetic exposure — these are fully backed tokenized securities settling on-chain.

The chain provides the transaction speed, settlement finality, and regulatory framework that equity and derivatives markets require. No other DeFi perps platform has this level of institutional infrastructure behind it.

Your assets stay in your wallet. Arcus cannot access your funds, freeze your account, or block withdrawals. One self-custodied account covers both spot and perps.

The platform does require KYC — a notable difference from most DeFi exchanges. This is tied to the regulatory requirements around tokenized securities. But custody remains with you.

Arcus is not available in the United States, United Kingdom, Canada, or other restricted jurisdictions as outlined in the Terms of Use.

SAGMA. 5% discount on perpetual futures trading fees.

95 tokenized stocks (zero-fee spot, live) and 35 perpetual futures (rolling out in cohorts).

The dYdX team. Eddie Zhang CEO. Antonio Juliano on the board.

An Arbitrum L2 built by Robinhood Crypto. Arcus is the flagship app.

Zero commission. RFQ mechanism means your cost is the quote spread.

Yes. Tokenized stocks serve as margin for perpetuals. Unique to Arcus.

50x on perpetual futures.

Expected but not officially confirmed. Platform structure mirrors pre-token patterns from dYdX.

Yes, due to tokenized securities regulations.

US, UK, Canada, and other restricted jurisdictions.

Paxos-issued stablecoin. Primary collateral on Arcus.

Yes. Assets remain in your wallet.