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. 🧱