AlphaX: A Tri-Agent Framework for Microstructure-Constrained Symbolic Alpha Discovery in Crypto Futures

We present AlphaX, a microstructure-aware two-phase framework for symbolic alpha discovery in cryptocurrency perpetual-futures markets. AlphaX reformulates LLM-based factor mining as a unified discovery process that coordinates validity constraints, cross-round feedback, and library-level redundancy control. In Phase~I, specialized Idea, Coder, and Runner agents operate within a seven-gate validity cascade and a trajectory evolution module, filtering 65.7\% of degenerate expressions. In Phase~II, Ward-linkage orthogonalization reduces mean absolute pairwise correlation to 0.26. Overall, AlphaX reports a 0.145 mean factor IC and, under HRP allocation, a 1.739 Sharpe ratio with 56.0\% annualized return net of costs, while showing positive library-level validation outcomes relative to the reproduced baselines under the shared protocol.