PAX Markets
More 𝛼, less latency: exchange and HFT on one chip.
What PAX Markets does
PAX is a new crypto CEX that delivers more 𝛼 with its in-silicon exchange and HFT technology. The PAX exchange integrated on-chip λ API provides deterministic nanosecond tick-to-trade latency. HFT λ traders experience non-adverse counterparty selection by pairing with free-tier traders who access PAX using our zero-cost & always rebated legacy API. Using our patented technology, PAX is building a new generation of exchange co-lo facilities that unite HFT with exchange and monetizing by vertically integrating exchange and platform technology as one.
3 open roles
What the role involves
What you’ll do: As founding software engineer, you will be a core contributor to our ultra-low latency matching engine, implementing its technology as a hw/sw co-design in Rust. PAX ultra low-latency in-silicon matching engine: PAX is building the world's first exchange and co-located trading facility on a chip. We will go-to-market using AWS F2 FPGA instances and follow-on with an ASIC design that combines network aggregation with exchange functionality. PAX provides the fastest tick-to-trade and market data publication in the world, across all exchanges (e.g. faster than NYSE, Deutsche Börse, etc.). Exchange integrated high frequency trading logic: The PAX λ API provides traders with on-chip exchange integrated HFT decision logic. Using the λ API, traders can make markets or take arbitrage opportunities. The λ API enables traders to respond to market events the very instant the information is registered in the exchange matching engine. PAX business model: PAX sells access to its ultra-low latency λ API and offers trading otherwise for free. Existing exchanges typically offer rebates for liquidity providers ("makers") and charge fees to liquidity takers (the "maker/taker" fee structure). At PAX when λ and non-λ orders pair together, the free-tier order is given a cash rebate regardless of whether their order was characterized as making or taking. PAX is the first exchange to offer zero-fee trading and rebates for both making and taking. Deep dives on PAX market structure & technology: On-exchange trading incentives with inherent price competition. PAX rebates & fees. PAX λ API. Relevant background: Candidates with experience in high frequency trading (HFT) or at an exchange are encouraged to apply. Skills: Rust and/or C++ HFT Protobuf Curiosity and ability to learn Passion for trading and markets
What the role involves
What you’ll do: As founding hardware engineer, you will be a core contributor to our ultra-low latency matching engine, implementing its technology as a hw/sw co-design in SystemVerilog, Rust, and C++. PAX ultra low-latency in-silicon matching engine: PAX is building the world's first exchange and co-located trading facility on a chip. We will go-to-market using AWS F2 FPGA instances and follow-on with an ASIC design that combines network aggregation with exchange functionality. PAX provides the fastest tick-to-trade and market data publication in the world, across all exchanges (e.g. faster than NYSE, Deutsche Börse, etc.). Exchange integrated high frequency trading logic: The PAX λ API provides traders with on-chip exchange integrated HFT decision logic. Using the λ API, traders can make markets or take arbitrage opportunities. The λ API enables traders to respond to market events the very instant the information is registered in the exchange matching engine. PAX business model: PAX sells access to its ultra-low latency λ API and offers trading otherwise for free. Existing exchanges typically offer rebates for liquidity providers ("makers") and charge fees to liquidity takers (the "maker/taker" fee structure). At PAX when λ and non-λ orders pair together, the free-tier order is given a cash rebate regardless of whether their order was characterized as making or taking. PAX is the first exchange to offer zero-fee trading and rebates for both making and taking. Deep dives on PAX market structure & technology: On-exchange trading incentives with inherent price competition. PAX rebates & fees. PAX λ API. Relevant background: Candidates with experience in high frequency trading (HFT) or at an exchange are encouraged to apply. Skills: SystemVerilog FPGA or ASIC design experience Rust and/or C++ HFT Protobuf Curiosity and ability to learn Passion for trading and markets
What the role involves
What you’ll do: As founding principal hardware engineer, you will lead the design and in-production implementation of an exchange and co-located trading facility on a single silicon device. You will lead development of PAX core technology and set future design directions. PAX ultra low-latency in-silicon matching engine: PAX is building the world's first exchange and co-located trading facility on a chip. We will go-to-market using AWS F2 FPGA instances and follow-on with an ASIC design that combines network aggregation with exchange functionality. PAX provides the fastest tick-to-trade and market data publication in the world, across all exchanges (e.g. faster than NYSE, Deutsche Börse, etc.). Exchange integrated high frequency trading logic: The PAX λ API provides traders with on-chip exchange integrated HFT decision logic. Using the λ API, traders can make markets or take arbitrage opportunities. The λ API enables traders to respond to market events the very instant the information is registered in the exchange matching engine. PAX business model: PAX sells access to its ultra-low latency λ API and offers trading otherwise for free. Existing exchanges typically offer rebates for liquidity providers ("makers") and charge fees to liquidity takers (the "maker/taker" fee structure). At PAX when λ and non-λ orders pair together, the free-tier order is given a cash rebate regardless of whether their order was characterized as making or taking. PAX is the first exchange to offer zero-fee trading and rebates for both making and taking. Deep dives on PAX market structure & technology: On-exchange trading incentives with inherent price competition. PAX rebates & fees. PAX λ API. Relevant background: Candidates with experience in high frequency trading (HFT) or at an exchange are encouraged to apply. Skills: SystemVerilog FPGA or ASIC design experience Rust and/or C++ HFT Protobuf Curiosity and ability to learn Passion for trading and markets
Roles are as last read from the company’s own listings. Openings close without notice — check the date on the listing before you spend an evening on the application.
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Questions and experiences
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Company facts compiled from public sources and last refreshed 9 September 2026. Details change; treat the company’s own site as the authority.