Not every platform maintains equal long-short ratios, and many have built-in safety nets through insurance funds.

Take decentralized perp protocols as examples: on GMX, trader profits and losses flow directly into the GLP liquidity pool. Similarly, Hyperliquid routes PnL through its HLP mechanism. This design means liquidity providers essentially act as the counterparty, absorbing the trading outcomes instead of relying solely on opposing positions to balance the books. It's a fundamentally different risk model compared to traditional orderbook exchanges.