I’m embarrassed to say this but I am surprised how much more I could have earned more from the strategy below.
Now I am generating a bit more than before☺️
I cannot wait for hourly FR tbh, not every 8 hours, though.
How to yield farm 54% APY on @Backpack right now.
- Deposit 1 SOL ($181.31)
- Enable auto lend
- Buy 0.01578 BTC ($1,845.92) on spot-margin using SOL as collateral
- The spot-margin buy will trigger a $1,845.92 USD borrow
- Short 0.01578 BTC-PERP ($1,845.92) using that same SOL as collateral
This yields
- 1 SOL spot lend @ 5.4% => $9.79074
- $1,845.92 BTC spot lend @ 0.07% => $1.292144
- $1,845.92 BTC-PERP funding rate @ 10% => $184.592
- $1,845.92 USD borrow @ 5.3% => -$97.83376
That's
(9.79074+1.292144+184.592-97.83376) / 181.31
=>
54%
Although funding rates and lending rates are variable-- could be less, could be more--all yield is real, organic, delta neutral, and with no subsidies. And on top of the 54%, you automatically earn points.
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