Perpetuals: maintenance

I woke to a pleasant surprise: $BTC 🚀📈

Consequently, I close my 4.2xLONG $BTC position on @GMX_IO to lock in the gains.

2023-03-17: 0.03 $BTC invested

2023-04-11: 0.001 $BTC gained

3.2% ROI, 48% APR, even with the $131 in fees.

Now, ofc, I'm going to rebid the 4.2xlong position, because, as I've seen before, a long-gain can lead to a long-gain.

But now, I'm doing something different.

I'm setting up a $BTC 4.2xSHORT, not on @arbitrum, but on @Avax.

Weird, right? I'll get into the why. 

OKAY!

(after a weird little adventure of borrowing $USDC on @BenqiFinance to cover the short-position, then repaying that borrow and rebalancing my benqi positions, ...) 

The REASON why I set the $BTC 4.2xSHORT on @Avax is because I already have a $BTC 4.2xSHORT on @arbitrum, way, WAY below this current price.

• I don't want to cancel it for a hefty loss.
• I don't want to dilute it with more collateral.

No: I want a new short at THIS price.

Now that I have the new $BTC 4.2xSHORT established on @Avax, I resubmit my $BTC 4.2xLONG on @arbitrum.

That way, if $BTC goes WAY up again, I close the LONG and lock in profits, and if $BTC spikes WAY down from this high, I'll close my @Avax-short to lock in profits.

YAY! 🎉

AVAX

Using my new method for perpetual-maintenance, I closed my $AVAX 4.2xSHORT position on @Avax @GMX_IO, making $118. 

Deets:

2023-04-11T08:22 invested 900 $USDC for $AVAX 4.2xSHORT at $18.37-per

2023-04-11T23:59 closed at $17.75-per

fees: $8.98

profit: 118.28 $USDC after fees

After closing the short, I immediately reopen, because, remember:

• "A fall has no bottom."

2023-04-12T00:10 invested 900 $USDC for $AVAX 4.2xSHORT at $17.75-per on @Avax @GMX_IO 

Correction:

• "A fall has no bottom ... until you place a short, then it has no top."

So, I bank, and hedge, both ways, placing a long:

2023-04-12T00:18 invested 50 $AVAX for $AVAX 4.2xLONG at $17.79-per on @Avax @GMX_IO 

My new positions on @Avax @GMX_IO after these transactions stand as follows:

Harmony: Tranquil Finance Maintenance

I am closing my 

• $ONE and $stONE loans (-9% and -3% respectively)

on @tranquil_fi and opening a

• $USDC loan position (+3%)

The exchange rates are better on @SushiSwap than they are on @Defiraverse for $USDT -> $ONE, FYI. 

And now we repay the $ONE loan.

But for $USDT -> $stONE, the exchange rate is better on @Defiraverse, not @SushiSwap. Go figure. 

I'm also moving all my stable coin collateral to $DAI at 7% (the other stables have lower yields). 

After that's settled, I borrow $USDC, because of its net-positive yield, but then swap it to $DAI as collateral, because it has the best yield among the stable coins.

At then end of the day, I've a 12.83% yield across ~$6500; that's $833 / year or ~ $2.30 / day.

That's a far cry from this morning, where I was 2% yield on ~ $2500, or $50 / year or ~$0.14 / day.

Leveraged yielding on @tranquil_fi, folks. 😍

Maintaining Short Positions in a Bull Market

WHAT? THE MARKET WENT UP? WHY?

I HATE it when the market goes up.

~ every short-seller.

What to do when the market goes up:

• Step 1: SCAN for undercollateralized assets.

• Step 2: PICK each asset undercollateralized

• Step 3: INFUSE collateral to each asset.

THAT'S why you need EARN in reserve!