The perpetual DEX landscape has shifted dramatically. With Hyperliquid commanding significant trading volume and user adoption, many traders are reconsidering their capital allocation across competing platforms. The reality: concentrating liquidity where execution is fastest and spreads tightest directly impacts profit margins. Why would savvy traders fragment their positions across platforms with inferior order books? Fundamentals matter—deeper liquidity, lower slippage, better funding rates. That's not hype, that's just arithmetic. The consolidation trend suggests the market is pricing in these efficiency gaps.