A week's worth of dollars, and the money guillotine's new catch. Field

Futures, options, price differential contracts, which sound professional。

In the past, many people had always thought that derivatives were the highest-threshold games in traditional financial markets, but they were increasingly common in the encryption industry。

in addition to the us stockmark itself, there have been a lot of discussions in the encryption community in recent times: "recently at & nbsp;Hyperliquid  the arbitrage is so good that i don't want to go into the discussion, "my eyes are only funded."。

These words were put a few years ago in the form of bitcoin, the arbitrage opportunity of the Taifung, but as the American stock chain became new, now they're staring at the mark of the three stars, the British, the games station。

Although it's almost as if we don't think about it now. The hot plates of chips, energy, optical, and the money was thrown in with their eyes closed, and the account rate was probably rising. There are always people around who double the number of shares in a bet. But these smart encryption practitioners, who earn money in a way that has nothing to do with "the stock goes up."。

A group of money-circles are quietly doing a new money business in the United States of America, using the coded market。

A contract never due

This logic begins with one thing: a contract for eternity. The contract is the one with the highest volume of "other futures" traded in the encrypted market. It does not have to be delivered dues, does not have to be extended manually, is dedicated to gambling up and down, increases leverage, $5 to open a 50-dollar warehouse, sells it 24 hours a day, and suddenly, at 3:00 a.m., no one wants to stop you。

But there is a problem at birth: a contract that never matures, and where does the price stick to real stock and do not miss

The encryption industry's solution to a permanent contract is the introduction of a mechanism called the financial rate。

The financial rate is white as a head tax, and whoever's over there pays。

For example, you're looking at Inverda, and you don't want to wait for America to open up and open five times as much space as you can on the contract。

But the problem is that there are too many people who want to do this, and there are too many people over here, and there are few people who are empty. In order to level the sides, the system provides that the smaller side collects the money and the larger side pays. So you do more of this, and every few hours, you automatically transfer money to the people standing there. The more people you work with, the more you pay, the more expensive it really is。

How much is this fine worth? Look at the real numbers。

Binance, the world's largest encrypted money-trading platform, has a multi-rater rate of 364 per cent for a three-star e-newser contract, meaning that you're three-star, one year old, and that the head tax alone is about three times your principal. Nokia is annualized 403%, BBX 591%。

Another platform that has to be mentioned is Hyperliquid, which is the one with the largest volume of trade in the current chain, decentrical contracts, no registration number, no KYC, no one can trade directly with their wallets, and is one of the products in the currency circles that brings the durability contracts closer to the experience of a centralised trading platform。

Hyperliquid transaction interface

It's 281% above, 227% at Game Station GME, 287% at Zoom, and so many people in a video conference company are pushing it up。

And another interesting thing about this rate is that it's a signal of a clear level of air heat。

How many people in the market are hot now? The rate is highest for those stocks that have recently been rounded up the strongest and the largest. The other way around, the share rate for one of the largest drug companies in the United States is negative, both in Binance and Hyperliquid. Multipoting on Binance is not only free of payment, but also a 65% annualization, and 103% on Hyperliquid。

This means that there are too many people who do air service, and the system, in turn, spends more on hiring people to maintain balance. The same stock, with different rates for different trading platforms, is 0 on Binance and 14 per cent on Hyperliquid, the margin itself being arbitrage. The more the number goes, the better the person standing across the street gets。

These extreme rates are visible in real time on platforms such as Hyperliquid, which also creates opportunities for cross-trading platform arbitrage (e.g., the difference in the rate of Binance vs Hyperliquid)

New business after the stock market

Cbb (X: @Cbb0fe) is a large, small-known family in the encryption ring, the first of which is made in the encryption market, which has been a arbitrage for the renewal of tokens for years, with his early public address on how to make $5 million in arbitrage robots on the Hyperliquid chain。

And he was one of the first people to transpose the game to American stock。

The Cbb operation logic is simple, buying real shares in the formal market while making the same amount of blank bills on contracts. The price of the stock rises, the money earned on the spot makes up for the contract; the price falls and the money earned on the contract makes up for the contract。

He's got nothing to do with a double-crossing. All he cares about is the head tax. He himself said that he had recently earned $2.4 million by collecting funds alone. There's a lot of people out there out there who's crazy about gold. He's selling shovels to gold hunters. Now that the U.S. stock was on a permanent contract, he moved it to the Apple, Samsung and so on。

There may be a question here as to why this opportunity is in the circle of currency, not in traditional finance. In fact, traditional markets have similar things, such as coupons, overnight interest, and the cost of financing or borrowing stocks. But that money is in the box of the coupons, and the whole mechanism is not transparent. You can't see the market as a whole, and you can't afford to accept it as an opponent. The issuer holds the business in his own hands, and ordinary people only pay for it and are not eligible to receive it. The terminus spreads the mechanism, anyone can see real-time rates and anyone can be the payee. It's made out of coins, and now it's on the American stock。

Not only is a person like Cbb doing it, but the agency is looking at this piece of meat。

Ethena is one of the largest stabilization currency projects in the Tokyo ecology, and it is calculating to move a portion of the reserve into a hedge. They'll figure it out. That's an extra $4 million to $8 million a year。

Ethena ' s capture of financial fees through delta-neutral hedges (the Chief Operator + the Short Term) has become the central mechanism for its USDe rate of return. This strategy has been included in its agreement mechanism, which is a quantifiable “rent-back” income rather than mere speculation。

For institutions, this is not gambling, it is a stable cash flow that can be written into asset allocation, and it is more in the nature of rent collections, except for those who are eager to leverage their shares。

SO THE QUESTION ARISES: 364% SAMSUNG, 591% BBX, DO ASTRONOMICAL ANNUAL RATE OF RETURN ALWAYS EXIST OR WILL IT BE FILLED OUT SOONER OR LATER

WE TOOK BITCOIN AS A REFERENCE, AND THE ANNUALIZATION OF THE OLD BITCOIN CONTRACT RATES WAS AROUND 18%, AND THEN THE SPOT ETF WENT ONLINE, AND WALL STREET ARBITRAGE CAME IN, AND THE RATE WENT DOWN TO 9% IN A FEW MONTHS AND CUT IT STRAIGHT IN HALF。

The rate of renewal of the U.S. stock contract would probably follow the same path, and the high rate is now due to the limited number of arbitrage participants and the low level of coverage。

But now that Binance is on the line with more than 700 stock spot deals, New Year's Hand is pushing all day, and the United States futures regulatory agency, CFTC, has begun to let go of the line of compliance for the renewal of the contract, both in the middle. Currently, CFTC has opened up a compliance path for bitcoin, and platforms such as Coinbase have launched analogues of perseverity products, while Hyperliquid stocks continue to grow. After the arbitrage, it was similar to the early bitcoin rate compression path of 18% to 9%, which is likely to recur in the United States stock forever。

So at this stage, it's essentially an early dividend window where people who come in first can eat the fattest。