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The difference, represented by funding rates (that is, the cost of holding long/short positions in perpetual futures, also called perp premium), has surged above an annualized 10% across major exchanges, including Binance, according to Velo Data. Positive funding rates mean buyers, or longs, pay shorts to keep their leveraged bullish
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Blockchain data flagged by Coinbase director Conor Grogan indicates that Alameda Research redeemed over $38 billion for Tether (USDT) tokens in 2021 despite not having the equivalent assets under management.Onchain data shows that Alameda was responsible for minting $39.55B of USDT, a number that is 47% of Tether's circulating supply
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DeFi’s lego bricks lock together in complicated ways, and the Balancer situation offers another example. It has already gotten the green-light from three other protocols: TempleDAO, which will loan Balancer specialty stablecoins that it needs to conduct the arbitrage; Euler, who patched the smart contract; and Inverse, which wants its
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In doing so, Polychain, one of the oldest and richest crypto hedge funds, seemingly thumbed its nose at a slightly risky arbitrage trade that could end up paying millions of dollars more. It is forgoing the opportunity to redeem its ROOK tokens via the “rage quit” smart contract, where it
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