Currency trading with perpetuals on Levana

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DRAGOONEERS!

PERPET-...RATORS!

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The EUR/USDC and GBP/USDC perpetual markets and those LPs (currently not tracking earnings there) are now LIVE on @Levana_protocol! 

Okay, so I gather liquidity, all from @TeamKujira Ghost, swapping $USK to $axlUSDC, then bridging that liquidity to @osmosiszone (where @Levana_protocol lives) via Satellite.

Am I g2g?

NUPE! When @Levana_protocol SAYS $USDC, @Levana_protocol MEANS $USDC, and specifically, NOT $axlUSDC.

Simple enough fix (now): @osmosiszone allows a nearly 1-to-1 swap between $axlUSDC and $USDC.

So, now I can establish positions in the currency markets on @Levana_protocol, which I do, starting with $EUR. I open both 50xLONG and 50xSHORT positions there.

Why take such risk? The chart history puts 50x within the realm of reasonableness.

That's currency markets for you. 

Of course, having just said this --^ ...

50x means that *zzt!* my money can evaporate in a heartbeat. That's why I'm starting verra smol with 50 $USDC positions at 50x. I get liquidated, I only lose $50.

This is high-risk trading, folks. Proceed with your eyes open.

Now I go to the $GBP market.

I notice something about this chart (and about the $EUR-chart, too): we're at ATH.

So, I only put in a 50xSHORT for 50 $USDC.

That doesn't mean the price won't go up. But I'll short, first. When I close the short is when I'll look at a long.

Game Plan

Here's my initial game-plan. I have a long and short against $EUR and a short against $GBP. When one of these hit my take-profit-point, I'll look at opening an opposed position.

(close a short, open a long)

Betting on a turn of the tide.

Because the markets always obey me? 😅

Of course, without fail, when I put in a long, the markets go down, and vice versa.

When that happens, I hedge with an opposed perpetual. And thus have the pretense of δneutrality:

I get to close the perpetual in the green and hedge with the opposed perpetual.

I'm sure every n00b goes into perpetual trading with an ironclad plan of attack.

Then what happens in the markets happens.

"To a Mouse," by Rob't Burns. Poetry Foundation.

Let's see how this develops. Is this my cuppa thé?

I'll give this a go, starting with verra smol bids, and see.

2023-09-30 ETHBTC-THANG! Day 125

Let's do the ETHBTC-THANG!

I record the $ETH and $BTC prices from @osmosiszone into my SPREADSHEETSZORXEN! 

Thanks to a 10xLONG against 1 $ETH popping on @Levana_protocol, I was able not only to swap $ETH -> $BTC as per the SPREADSHEETSZORXEN, but I also bagged some net $ETH as profit, as well, growing my ETHBTC-bag! 

2023-09-30 ETHBTC-THANG! Day 125

The ETHBTC-THANG! 

• swap 0.05589 $ETH

After swap:

ETH: 6.00078 BTC: 0.0101

Total: $10,358.99 TVL EMA-20: $9,554.13

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

ROI: 5.66% APR: 16.54%

What I like about the ETHBTC-THANG! is that it gives purpose to $ETH and $BTC accumulation and it's explicit in showing you how your swaps grow your ETHBTC-bag. The more $ETH and $BTC you accumulate, the more efficacious your ETHBTC-swaps become.

I deposit my $wETH and $wBTC gains into @TeamKujira Ghost. I'll need to set up a $wBTC LP and perpetual on @Levana_protocol soon, but not now.

Now: I nap! 😴

Just one more thing before I go:

Dear @TeamKujira,

Would you like to set up a wETH-wBTC LP on BOW? I'm betting there would be, say: oh, at least 1 person interested in a wETH-wBTC LP on BOW and a wETH/wBTC order book on FIN.

love, geophf

DOT LP and perpetuals on Levana

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OY! You LEVERAGE LOVIN' POLKADOTTIRS!

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@Levana_protocol has opened up their single-sided $DOT LPs (currently at 19% APR) and their LONG and SHORT $DOT perpetuals!

You must 🚨🚨🚨 FIRST CONVERT $axlDOT to $DOT (composable) with not insignificant slippage on @osmosiszone

After that, you will probably need to supply some liquidity to the $DOT-pool before you open leveraged positions, because @Levana_protocol is fully self-funded.

At 19% APR on the $DOT LP, I'm not complainin' about this 'parking lot' of liquidity, ya hear? 😎

After liquidity is available on the protocol, you can take long and short positions. I go 💯 bat crazy degen by taking a 10x LONG and a 10x SHORT position against $DOT. When one pops, I'll close it for profit, and I hope I degen my way to 50M $DOT on @Levana_protocol.

HIGH RISK!

The remaining $DOT ('composable') I supply to the $DOT LP on @Levana_protocol at 19% APR.

I'll BUIDL this $DOT bag with profits from the 10x perpetuals, and, hey, if the perpetuals liquidate, it's 100% my loss, but I finally get to do something with this liquidity, see? 

2023-09-28 ETHBTC-THANG! Day 123

Let's do the ETHBTC-THANG!

I gather the $ETH and $BTC prices from @osmosiszone then record them onto my SPREADSHEETSZORxEN! 

From the @Levana_protocol 10x $ETH LONG, ...

I transport back 0.05 $ETH to @TeamKujira, leaving 1.0 $ETH on @osmosiszone to leverage at some later time, maybe?

This increases my ETHBTC-THANG! by 0.05 $ETH.

Which is nice. 😎🍾

2023-09-28 ETHBTC-THANG! Day 123

The ETHBTC-THANG! 

• no swap; no EMA-ratio δ

ETH: 6.08611 BTC: 0.0033

Total: $10,141.74 TVL EMA-20: $9,391.97

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

ROI: 4.86% APR: 14.43%

A big-...gish leap in price for both coins leaves the ratio too close to make a swap call, either way. So, we sit on our hands.

Levana: δneutral ETH position

Let's look at setting up a δneutral position on @Levana_protocol. I'm particularly interested in $ETH with it's 171% APR funding fees on shorts (negative means: not to the protocol, but to me).

Funding fees are HIGHLY volatile AND minuscule to price movement. Let's start smol.

The first-first thing I do is move 2 $ETH to @osmosiszone (where @Levana_protocol lives) via Satellite.

Moved? Good.

The second-first thing I do is fund my long-side by putting 1.5 $ETH into their stable pool at 19% (NOT into their locked pool at 30%+).

Voilà! Funded.

AND @Levana_protocol has a 'My HODL'ns'-page which shows all the funds you've contributed to support the 'house'-side of the perpetuals.

Look at me, earning $ETH like a good boy! 🐶

Why don't I lock my $ETH for 45 days? Because I need it liquid in case my perpetual goes South.

I record all the data on my 3x $ETH short on @Levana_protocol, just in case a yummy take-profit opportunity arises or in case liquidation becomes proximate.

I'd love these values be apparent on @Levana_protocol, but they are hidden past the scroll bar, which I find distasteful.

I also begin reporting my @Levana_protocol portfolio, which (slightly) expands my @cosmos-presence outside of @TeamKujira. 

p.s.: @Levana_protocol's take on establishing a δneutral position (in their case-study: with $ATOM), which they call "cash and carry," which goes into depth of funding rate strategies and provides caveats.  

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: