Are you guys doing mostly spread trades, like I am?

I will pick a favorable project to go long and radioactive waste to go short at an equal counterbalance. Often the hourly perpetual funding premium credit on the short is enough to offset the funding cost on the long.

I like the notion of stamping out the trying to time the market aspect, which historically has humbled the smartest people alive, and only having to focus my research on particular projects rather than a million macro events.

I mostly do this with futures, for the leverage afforded, but understand the value in going spot because you’re locked in a price forever, rather than a dynamic nominal value, and then just have to watch the USD borrow rate on the platform, which, with cheap capital, is being stamped out. I remember earning over 100% APR on straight USD on FTX but since the last few rounds, and institutions and endowments pouring in capital, I rarely see it above 10%, which is making leveraged spot much more attractive.