APEX essentially functions as a non-custodial trustless orderbook on top of the Perpetual Protocol virtual Automated Market Maker (vAMM). This is known as a "best of both worlds" combination, whereby APEX users can enjoy:
The advantages of Perpetual Protocol's vAMM model, whereby liquidity can easily be bootstrapped for new markets and new markets are listed regularly.
Advanced order type functionality they are used to use on centralised exchanges.
As a decentralised, non-custodial solution, APEX is open to anyone and it keeps your funds safe.