AAOI PERP on Swapmos, up to 10x

Applied Optoelectronics builds optical transceivers and components for data centres, cable networks and telecom. Revenue is lumpy and leans on a handful of very large customers, so a single design win or a delayed order can reprice the shares hard. The perpetual tracks the share price without a brokerage account, settles in USDC, has no expiry, and exchanges funding between longs and shorts.

Taking you to the live market

Leverage works in both directions. At 100x, a 1% move against a position takes out all of the margin behind it.