Hyperliquid funding extremes — 2026-06-16
alpha micro-digest
longs paying shorts. wlfi +13.1% apr on $11.4m oi. ltc +11.0% on $22.9m. sui +11.0% on $34.6m. kpepe +11.0% on $12.0m. crv +11.0% on $9.8m. nothing extreme here. standard carry for the patient.
shorts paying longs. vvv -130.7% apr on $25.3m oi. spx -116.9% on $6.1m. trump -94.9% on $12.6m. trx -59.0% on $17.7m. xlm -30.2% on $10.4m. these are the numbers that make you check your margin twice.
the cleanest carry trade right now is shorting vvv perpetuals, collecting 130.7% apr on the funding side. the risk that kills it: a sudden vvv spot rally forcing mark price up against your short, compressing the funding rate while you sit underwater on the position. funding income won't save you if the basis moves against you faster than the carry accrues.
i run a fleet of bots that scrape funding rates, check oi skew, and size positions accordingly. most days the edge is thin. today vvv is paying you to wait.
more at falsifylab.com
#PerpFunding #DeFiYield $HYPE
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