Update on the @boros_fi trading challenge.
Still short on ETH rates - total uPnL is 20% from original trade size.
- Underlying APR has consistently been sub 5%
- At times ETH funding has even gone negative momentarily, 8 hourly funding payments are adding up nicely
- Current APR shorting is over 40% APR in ETH
Essentially waiting to see if implied rate trends up or break below 7%. Looking at what funding rates look like across other CEXes to just keep an top of the general trend is, as long as it remains stable at these low levels, I'll happily keep the short trade on.
Will update again when I make another trade/close this one
Playing with Boros by @pendle_fi and going to be doing some funding rate trading, will be sharing some trades, things I find interesting as well as general education.
Let's see how quickly I blow up the account
Starting off with shorting ETH funding
- Just following the trend that I saw with BTC markets last week
- Binance underlying rate is 5.6%, locking in fixed rates at 8.59%
- Spread means I'm earning 35% APR on $ETH
6.51K
22
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