Arthur Hayes
speaker
1,864 appearances
4 recordings
3 series
first heard Jan 2026
last heard 22 Jun
Arthur Hayes’s voice in public audio — every appearance, attributed to the second.
Trend
recordings per month · last 12 monthsRecordings per month over the last 12 months — 4 in all, peaking in Jan 2026 with 2.
Appearances
Yeah.
And we didn't actually cite that paper and I had never read it before, but when we came up with the idea, but we kind of arrived at the same conclusion.
And initially it was, we took the Bitfinex Bitcoin and dollar rates and then created this never ending thing, but it wasn't responsive enough to the market.
And so the real innovation that we invented was this self-correcting mechanism, the funding rate, how you look at the past,
X period, their premium or discount, apply that going forward as the funding rate.
That is what really made the perpetual swap work in a crypto high-paced, highly leveraged environment because you had this very quick resetting of what the rate should be
in the real market.
And it's completely self-contained.
You don't need to reference outside prices to arrive at this mechanism.
So that is a new invention that myself and the team at BitMEX created starting in 2016.
So I would say, yes, we invented the perpetual swap.
This is not a Robert Shiller product.
I love it.
I mean, I think I can't.
I love that, like, Terry Duffy and, you know, the NYSE guys are, like, freaking out about Hyperliquid and, you know, all these perps.
Like, go fuck yourself.
I'm going to stare.
Oh, regulator, come Hyperliquid.
They're taking all my money.
Like, get the fuck out of here.
Showing 441–460 of 1,864 · page 23 of 94
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