A few PerpDEXs I'm Thinking of Checking Out
Honestly... well, no matter how much you complain, a dog can't stop eating poop...
However, since PubDecks are basically just Goosepoke now, you absolutely shouldn't spend too much on fees—just like you shouldn't buy a Pickaxe.
You need to take advantage of arbitrage trading as much as possible,
and target events, interest-paying sites, and gap & funding fees.
So, the sites I'm thinking of checking out are:
1. StandX
- They say they give interest by splitting a portion of the fee when you take a position. It looks like it yields around 40-50%, but it's a bit iffy for taking large positions. - But there is no set amount for how much they will give, and since they can just stop giving it at any time, it’s a bit ambiguous. So I’m thinking of doing just a little bit, not a lot.
2. Ethereal
- YourQuantGuy estimates a foramin of about 20% APY for Ethena & Ethereal points based on calculations, but I’ll have to try it to see.
- Looking at the trading volume, I do wonder if that’s accurate...
3. GRVT
- Roughly $50,000 in trading and setting up sub-accounts will bring the 5% APY to par.
- If you take a position and put the rest into GLP, you still get 18% GLP. Since you can put in 30% of the initial deposit, the APY comes out to about 8%.
- It is a bit of a hassle... but I guess it will be at least 10% if I include the points, right?!
4. Hibachi
- They are giving double points until April. - They say Vault allocations will be given to the top 200 points earners this week.
- Current Vault APY is around 30%.
- The current Vault is Alpha Vault, and a more stable (though case-by-case) MM Vault is said to be coming later. They say Alpha Vault users will be given priority for MM Vault allocation.
- Be careful, as Alpha Vault does not yet have a large TVL and returns fluctuate wildly.
5. Hotstuff
- Vault APR is around 23%.
- Be careful here too, as the TVL is not high and returns fluctuate wildly.
Points to Note
To handle Vaults properly, you actually need to examine their operating mechanisms and assess for safety mechanisms or potential breaches.
You must also be careful with arbitrage trading; the price may spike on only one side, you may get liquidated on only one side due to an ADL, or losses may occur due to gaps/spreads, funding fees, etc., when you open the trade. The loss limit is up to 100%, so you need to be cautious.
Once I clear my head and regain my composure, I plan to add them one by one and review them...
