The pattern is getting old: policy swings, platform interruptions, and you're always waiting for someone's permission to protect your own capital. Self-custody shouldn't be a luxury—it's table stakes. Transparent liquidation mechanics and markets that don't just vanish when volatility spikes? These need to be non-negotiable.

There's movement happening though. Some teams are actually building the infrastructure traders are asking for instead of just talking about it. Real-time funding rate comparisons against spot prices, for instance. The kind of tools that let you see actual carry opportunities without the guesswork. Even in early phases, you can see where this heads: platforms that prioritize uptime and clarity over extracting every cent from user uncertainty.

The infrastructure game is shifting. Traders are voting with their capital, and the projects that keep shipping functionality—not just promises—are the ones gaining traction.