Show HN: GPU Perpetual Futures Prototype (github.com)

Compex has unveiled a prototype for a perpetual futures trading platform focused on GPU compute pricing, specifically for H200 GPUs. This platform aggregates live rental prices into a tradeable index (CPX-H200.USD.1H), aimed at helping cloud operators and ML labs hedge against the volatility of compute costs. As GPUs become increasingly essential for various industries, establishing a derivatives market for GPU compute is expected to provide crucial insights into implied depreciation and demand signals, paralleling how airlines hedge jet fuel and Starbucks hedges coffee beans. Currently presented as a minimum viable product (MVP), Compex features real index construction and funding rate mechanics, although it uses simulated order matching. The backend is built with a robust event-driven architecture in Rust, ensuring extensibility and fault isolation, while the frontend employs Next.js and TypeScript for a responsive user interface. The project offers real-time analytics with WebSocket and REST APIs for market state management. Notably, the accompanying "Hedging Playbook" outlines economic models and hedging scenarios that could revolutionize investment strategies in the growing AI compute landscape, emphasizing the significance of GPU compute derivatives beyond mere technical implementation.