2023-08-31 ETHBTC-THANG! Day 95

Let's do the ETHBTC-THANG!

First, I record $BTC and $ETH prices from @osmosiszone 

2023-08-31 ETHBTC-THANG! Day 95

The ETHBTC-THANG! 

• no swap; no EMA-ratio δ

After swap:

ETH: 4.44551 BTC: 0.0705

Total: $9,171.31 TVL EMA-20: $9,407.87

n.b.: TVL EMA-20 indicates that ETHBTC, itself, is undervalued.

ROI: 5.33% APR: 20.48%

Now today is a good day, because: 

"TVL EMA-20 indicates that ETHBTC, itself, is undervalued."

Which means I get to buy and to stake liquidity on @Indigo_protocol. 

But $iBTC? or $iETH?

It's too close to call, so WAT DO?

I invest in the one I have less of. 

Today, that's $iBTC.

I swap $ADA (that I transferred to @Cardano a few days ago) to $iBTC, then stake it into the @Indigo_protocol stability pool. 

I don't collect the $INDY-yields, as there are not yet $10-worth. 

2023-08-31 Indigo portfolio

Basis: $1,499.34

$iBTC: 0.010424 $269.38

$iETH: 0.583878 $965.40

$iUSD: 0 $0.00

value: $1,234.78

total fees $17.493

total yields $16.617

net gain/loss -$0.876

APY -0.66%

ROI: -17.70%

APR: -184.62%

Thus endeð the ETHBTC-THANG! for today.

2023-08-31 Daily CoinMarketCap Price Quotes

Top 5000 coins tracked by @CoinMarketCap, 2023-08-31

My portfolio coins

Report generated by ./cmc_prices and ./cmc_filter, respectively, run by make alles

2023-08-31 Latest Stride LSD exchange rates

Latest @stride_zone LSD exchange rates up for 2023-08-31

Raw CSV of report available and archived.

./lsd source code.

Top 18 FIN order books by volume, 2023-08-31

Top 18 FIN order books by volume, 2023-08-31

 

1. axlUSDC/USK,$51.21K
2. KUJI/axlUSDC,$23.73K
3. MNTA/axlUSDC,$18.88K
4. STARS/MNTA,$15.28K
5. MNTA/KUJI,$12.21K
6. SOMM/MNTA,$10.78K
7. KUJI/USK,$9.03K
8. ATOM/axlUSDC,$8.25K
9. stATOM/MNTA,$7.29K
10. ATOM/USK,$6.69K
11. MNTA/USK,$6.67K
12. wBTC/MNTA,$5.12K
13. KUJI/ATOM,$5.07K
14. KUJI/LOCAL,$4.36K
15. SHD/MNTA,$3.62K
16. wstETH/MNTA,$3.27K
17. wETH/KUJI,$1.74K
18. LUNA/USK,$1.01K

Report generated by ./top_order_books

2023-08-30 ETHBTC-THANG! Day 94

HELLO, FRENZ! I LOVE YOU! AAAAH!

I get a wee bit enthusiastic, sometimes.

Narrator: Yeah: 'sometimes.' 🙄

me: Hush, narrator.

LET'S DO THE ETHBTC-THANG!

First off, I record the $BTC and $ETH prices from @osmosiszone onto my SPREADSHEETSZORXEN.

Narrator: "wee bit." Cha. Rite.

2023-08-30 ETHBTC-THANG! Day 94

The ETHBTC-THANG! 

• swap 0.00257 $BTC

After swap:

ETH: 4.44551 BTC: 0.0705

Total: $9,439.92 TVL EMA-20: $9,433.68

n.b.: TVL EMA-20 indicates that ETHBTC, itself, is overvalued.

ROI: 5.18% APR: 20.13%

I do the BTC-ETH swap, transferring $BTC to @osmosiszone via Satellite, swapping, then transferring the liquidity-as-$ETH back to @TeamKujira via IBC. EASY-PEASIES!

Since the EMA20-TVL tells me ETHBTC is 'overvalued' (it's not. It never will be), I come to rest here.

THE. END.

Top 19 FIN order books by volume, 2023-08-30

Top 19 FIN order books by volume, 2023-08-30

 

1. KUJI/axlUSDC,$56.24K
2. axlUSDC/USK,$33.73K
3. STARS/MNTA,$27.26K
4. MNTA/axlUSDC,$13.41K
5. SOMM/MNTA,$13.05K
6. ATOM/axlUSDC,$11.69K
7. KUJI/USK,$11.09K
8. KUJI/LOCAL,$6.39K
9. MNTA/KUJI,$6.07K
10. KUJI/ATOM,$3.99K
11. ATOM/USK,$3.98K
12. wETH/KUJI,$3.12K
13. MNTA/USK,$2.12K
14. wBTC/KUJI,$2.07K
15. wBTC/MNTA,$1.67K
16. stATOM/MNTA,$1.54K
17. wBTC/axlUSDC,$1.14K
18. STARS/USK,$1.05K
19. LUNA/USK,$1.05K

Report generated by ./top_order_books

2023-08-30 Latest Stride LSD exchange rates

Latest @stride_zone LSD exchange rates up for 2023-08-30

Raw CSV of report available and archived.

./lsd source code.

2023-08-30 Daily CoinMarketCap Price Quotes

Top 5000 coins tracked by @CoinMarketCap, 2023-08-30

My portfolio coins

Report generated by ./cmc_prices and ./cmc_filter, respectively, run by make alles

2023-08-29 ETHBTC-THANG! Day 93

Let's do the ETHBTC-THANG!

BUT BEFORE WE DO THE ETHBTC-THANG!

Let's discuss the answer to this pop-quiz (or, more correctly, 'AN' answer to this pop-quiz).

First of all, note that the distance between EMA20 and ETHBTC-ratio can be measured. We'll call this measure, δ.

Looking at the above chart, one could suppose that the greater the δ is, the more impactful an ETH-BTC swap would be, contrapositively, the smaller the δ, the less impactful a swap would be.

So, we want to trade more with high δ and less with low δ.

This is my working thesis.

But what is 'high δ' or 'low δ'? I didn't know until I measured it today.

So it was a 'TIL'-kind-of-day for me today.

But, when I did chart it, something like a 'max δ' arises.

Let's plot that value over time.

Max δ is in red.

With δ and max δ, we now see where the ETHBTC-ratio varies, and, importantly, by how much from maximum variance.

So, I apply that ratio to how much $ETH or $BTC I swap

My formula: TVL (USD) / 20 * δ / max δ

Thus we have proportionate swapping for the ETHBTC-THANG! 

This seems like a reasonable approach to me. I'll monitor this approach over the next month or so and see how it fits into my ETHBTC-THANG! 

With that, let's do the ETHBTC-THANG! I prepare by recording $BTC and $ETH prices from @osmosiszone into my SPREADSHEETSZORXEN! 

2023-08-29 ETHBTC-THANG! Day 93

The ETHBTC-THANG! http://logicalgraphs.blogspot.com/p/ethbtc-experiment.html

• swap 0.00288 $BTC

After swap:

ETH: 4.40507 BTC: 0.0730

Total: $9,581.39 TVL EMA-20: $9,435.07

n.b.: TVL EMA-20 indicates that ETHBTC, itself, is overvalued.

ROI: 5.18% APR: 20.33%

So, gotta say: WOW! "Buy the rumor; sell the news"? That's not how I operate, but today is the first day in a long-long time where the ETHBTC-portfolio is now 'overvalued.' So that's cool! 😎

I do the (now proportionate) BTC-ETH-swap on @osmosiszone.

And then I go to sleep. 😴

Cryptocurrency pop-quiz: token price variance across order books

#cryptocurrency pop-quiz

We've seen the highest and lowest prices for each of $KUJI, $MNTA, and $ATOM.

Arbiteurs live for variance. For example, if I buy $KUJI at 41¢ (not too long ago...) and sell it for 97¢, I've more than doubled my money.

So! Compute the maximum variances for $KUJI, $MNTA, and $ATOM as percents.

Which token, according to your calculations, is best for arbitration?

BONUS: hmmm, ... I wonder if there's a $LUNA-play here?

BONUS-BONUS: what's your favorite token to arb? Why?

• (answer)

Cryptocurrency pop-answer: Best MNTA prices

 #cryptocurrency answer to the pop-quiz: best $MNTA prices

Here, the prices on the $MNTA order books seem to be tighter, but that may be an ephemeral conjucture on my part.

• The lowest $MNTA price is on STARS/MNTA at 21.6¢
• The highest $MNTA price is on MNTA/axlUSDC at 22.3¢

Perhaps the reason there's is always so much volume on STARS/MNTA is because the $MNTA price the lowest on STARS/MNTA?

Cryptocurrency pop-answer: KUJI best prices

#cryptocurrency answer to the pop-quiz for best $KUJI prices, both high and low.

There's irony to this pop-answer, because:

• the lowest $KUJI price is on KUJI/ATOM
• the highest $KUJI price is on KUJI/stATOM

If these @TeamKujira order books had infinite depth, the arb's? They'd be 🔥🔥🔥 

Top 22 FIN order books by volume, 2023-08-29

Top 22 FIN order books by volume, 2023-08-29

 

1. KUJI/axlUSDC,$66.09K
2. axlUSDC/USK,$39.03K
3. KUJI/USK,$25.38K
4. STARS/MNTA,$25.25K
5. SOMM/MNTA,$15.89K
6. ATOM/axlUSDC,$15.04K
7. MNTA/KUJI,$11.63K
8. ATOM/USK,$10.87K
9. MNTA/axlUSDC,$8.44K
10. MNTA/USK,$7.78K
11. KUJI/LOCAL,$5.83K
12. wBTC/MNTA,$5.77K
13. LUNA/USK,$5.75K
14. wETH/KUJI,$5.68K
15. KUJI/ATOM,$4.97K
16. stATOM/MNTA,$4.47K
17. wstETH/MNTA,$4.38K
18. wBTC/KUJI,$2.58K
19. wBTC/axlUSDC,$2.42K
20. LUNA/axlUSDC,$2.12K
21. STARS/USK,$1.72K
22. GRAV/USK,$1.27K

Report generated by ./top_order_books

2023-08-29 Latest Stride LSD exchange rates

Latest @stride_zone LSD exchange rates up for 2023-08-29

Raw CSV of report available and archived.

./lsd source code.

2023-08-29 Daily CoinMarketCap Price Quotes

Top 5000 coins tracked by @CoinMarketCap, 2023-08-29

My portfolio coins

Report generated by ./cmc_prices and ./cmc_filter, respectively, run by make alles

ETH δneutral farming on Nolus

ETH δneutral farming on Nolus

Okay, so you have ETH, or BTC, and HODL'n it is all fine and dandy, but wouldn't it be nice, while you are HODL'n it, that you earned from it, not only in the price-movement, but also by farming yields from the principal, and in a price-protected manner, at that?

This 🧵discusses one such way to do this, using δneutral farming on @NolusProtocol.

I (short-)sold $wETH on wETH/axlUSDC @TeamKujira FIN board.

This was a multi-step process, where I accumulated 278 $axlUSDC in total. I transfer that all that to @NolusProtocol.

I am going to create a $wETH δneutral position on Nolus.

The first side of the $wETH δneutral position on @NolusProtocol is to establish a farm from the $wETH I sold short on @TeamKujira. I deposit the 168 $axlUSDC gained from that sale into Nolus Earn, yielding 14% $NLS APY and 6% APR (on the $axlUSDC).

The other side is the 0.16 $wETH long position, which I lease for 110 $axlUSDC, ...but its value is 263 $axlUSDC! (meaning: I'll need an additional 163 $axlUSDC to close this position, eventually).

This is a LEVERAGED long position.

This completes the δneutral position:

• On the short-side, I'm farming 168 $axlUSDC at 6% APR, net
• On the long-side, I'm leveraging 0.16 $wETH

This is NOT 100% pure δneutral, as I must manually manage the risk, myself, but in this I do get price-protection.

• Should the market go up, I close the long-side and profit from buying 0.16 $wETH at a discount: a leveraged-buy.

But then:

• Should the market go down, I use the liquidity from the $wETH (short-)sale, and close the long-side, avoiding liquidation. Yes, manually, granted, but still the protection is there when needed.

Either way, I farm 0.16 $ETH (and short-side liquidity), protected.

This is The Plan™️

I'm starting here, with this smol position, and see how it works.

Once this is proved out, I'll increase the $ETH δneutral position. Then, given that works, I'll expand to a $BTC δneutral position, as well.

I'll keep you posted, here, as I do.