Using an ETH based collateral is the least important reason to use any perp DEX when lending is everywhere.
I just assume everything is a pump
One cool thing that I haven't seen on a perp DEX before is the ability to deposit wstETH and use it as collateral, and then short ETH perpetuals, creating a delta-neutral basis trade that earns both staking rewards and positive funding payments.
On HL, Lighter, etc., you can't use 100% of your capital into a basis trade (because it is not possible to use spot as collateral). You would need approx. 30% of the capital available on the perp side, making it more efficient to use @synthetix_io.
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