Probably the best trade everyone is sleeping on now 💤
31% FIXED APR DELTA-NEUTRAL strategy with Crude Oil.
📝 The Setup
You need 3 things: a long position on WTOIL perps on @Hyperliquid, a short on WTI crude futures (CL) on a traditional broker, and Boros to lock in the funding rate
Step 1: Go long WTOIL on Hyperliquid
Open a long position on WTOIL (Hyperliquid's WTI crude oil perpetual). This is your funding rate receiver leg. Oil perp funding is deeply negative now, so longs get paid.
Step 2: Hedge with a short on CL futures
Short an equivalent notional on CL via a broker that offers CME futures access (Robinhood, IBKR, etc.). One /CL contract = 1,000 barrels, so size this to match your WTOIL long. This makes you delta-neutral, so oil price moves don't affect your PnL.
Step 3: Lock the funding rate on Boros
Head to Boros and lock in the current WTOILUSDC Implied APR (currently 31%) as fixed yield. Instead of riding a floating rate that can flip, you crystallize your carry for the duration.
🎯 The Result
A delta neutral position collecting a fixed annualized yield equivalent to the WTOILUSDC Implied APR on Boros, with any basis difference between your entry prices on each leg as additional upside. Zero directional exposure.
Alternative setup - combine Step 1 + Step 3 to lock in a FIXED funding receivable for your WTOIL long. Note this won't be delta-neutral though.
