Back to neutral on $PUMP :
Not by cutting the short but by buying spot and adding into LP with high yield
You can basically get paid on both legs : positive funding on the perp short and juicy APR on the on-chain LP
(It's not exactly delta-neutral of course because the PUMP exposure will be variable in the LP)
I opened a short on $PUMP
Huge acceleration of the move up today, new ATH, $8bn+ FDV, maybe close to peak mindshare on the streamer thing, and the SOL strength might be fading if the DAT buying is indeed done
But the main reason for opening the trade is probably seeing the funding rate get very high on Bybit (+180% annualized), so I like the idea of getting paid on a short that is quite safe
I could see PUMP run higher though, I would add more progressively above $10bn, but it already looks like an okay entry to start here
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