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Trader holds $1.14 million EUR/USD perpetual long for 400 days
The position has faced about 2.3% annual holding costs via predictable rollover fees on the Ostium DEX.
CoinDesk reports that a trader using the decentralized exchange Ostium has kept a $1.14 million long position in EUR/USD perpetual futures for 400 days, using a bitcoin-style buy-and-hold approach applied to a major forex pair.
The bullish trade, opened around early June 2025, was built on an expectation that the euro would strengthen versus the U.S. dollar. CoinDesk says EUR/USD has been above 1.14 as of the time of writing and was as high as 1.2082 in January this year.
Ostium said the strategy incurred roughly 2.3% annual holding costs, driven by predictable rollover fees. CoinDesk notes this differs from typical crypto perpetual futures, which rely on funding rates and periodic payments between long and short positions to align contract and spot prices.
CoinDesk also highlighted that onchain FX trading across platforms such as Ostium, Gains Network, Synthetix, and GMX remains a very small slice of the global forex market, which it describes as exceeding $9 trillion in daily trading volume. Still, the 400-day hold illustrates that some traders are willing to use blockchain infrastructure and leverage tied to traditional assets.
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