Pear Protocol

Pear Protocol is a unique pair trading platform on Arbitrum that enables simultaneous long and short positions on correlated assets. Launched in January 2024, it fills a specific niche in the DeFi derivatives landscape — structured pair trades that are commonplace in traditional finance but rare in crypto.

The platform offers 25 pair markets with up to 20x leverage, zero maker fees, and a 0.05% taker fee. Instead of trading individual assets directionally, users take relative positions: for example, going long ETH while simultaneously shorting BTC to capture spread movements. This enables delta-neutral and market-neutral strategies.

Pear Protocol integrates with Hyperliquid for execution, enabling up to 60x leverage on some pair combinations. The protocol acts as an abstraction layer over underlying DEX liquidity, providing a structured trading interface for strategies that would otherwise require manual multi-leg execution.

The PEAR token is live on Arbitrum with an 80% protocol revenue share for stakers through the sPEAR mechanism. This high revenue share makes PEAR staking one of the most generous fee-sharing models in DeFi.

Pear Protocol is designed for sophisticated traders who want structured pair trading capabilities on-chain. It's a niche product — not a general-purpose perp DEX — but fills an important gap for traders running relative value, spread, or market-neutral strategies.