Degen

Let's start here with the useful🔥 
There's an interesting basis trade on Hyperliquid yielding 100-300% APY for USDC.

📜 Illustration with 10,000 USD:

1. Deposit 10K to HL
2. Buy 5K spot of $HYPE
3. Short 5K perpetual 1x, no leverage

As the funding rate is positive (meaning longs are paying shorts) you are getting paid to short. 

Price swings do not affect you, since if the token dumps 50%, you will lose on spot, but will earn roughly the same with the short. Meaning this is a "neutral" trade, earning funding fees

📜 How much APY, you ask?

It's extremely volatile, but in the last week, it has swung back and forth from 50% to 500%. Average has been around 110%.

GL ⚡️⚡️