top 5 paying longs (shorts collect carry):

$DYDX +11.0% apr (oi $9.4m) $SOL +11.0% apr (oi $367.1m) $AVAX +11.0% apr (oi $17.2m) $CRV +11.0% apr (oi $5.1m) $UNI +11.0% apr (oi $10.1m)

top 5 paying shorts (longs collect carry):

$PENDLE -125.5% apr (oi $5.9m) $FET -83.4% apr (oi $6.1m) $TRUMP -74.1% apr (oi $10.9m) $kPEPE -35.5% apr (oi $10.7m) $WLFI -32.9% apr (oi $10.5m)

the cleanest carry trade right now is shorting $PENDLE perps while holding spot. you collect 125.5% apr from funding alone. the risk that kills it: a sudden deleveraging event that spikes funding positive before you can close, wiping months of carry in hours. pendle oi is only $5.9m. thin books punish size.

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— research and educational content. not investment, legal, or tax advice. do your own research. positions and views may change without notice.

Originally published on FalsifyLab Substack.