DeFi University

5 modules · 24 lessons · about 16 hours

Funding-Rate and Basis Spreads

Master funding and basis spreads on Hyperliquid, Bybit, OKX, Binance, dYdX, GMX, and Velocity. Keep each clock, oracle notional, and fee hurdle with the venue that printed it.

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Module 1: Hyperliquid

  1. 1What a funding rate is attached to10 minExercise
  2. 2Premium, impact, and the oracle9 minExercise
  3. 3The formula and the one-eighth7 minExercise
  4. 4Annualization and the 4% cap7 minExercise
  5. 5The hourly payment in dollars7 minExercise
  6. ?Module 1 quiz

Module 2: Exchange clocks

  1. 6Bybit’s clock8 minExercise
  2. 7OKX’s clock8 minExercise
  3. 8Binance’s clock7 minExercise
  4. 9dYdX’s hourly print8 minExercise
  5. 10Mixing the clocks8 minExercise
  6. ?Module 2 quiz

Module 3: Pool and hybrid books

  1. 11GMX funding is per second7 minExercise
  2. 12GMX’s borrow fee is a second cashflow7 minExercise
  3. 13Velocity, formerly Drift: funding from two averages8 minExercise
  4. ?Module 3 quiz

Module 4: The spread

  1. 14Cash and carry9 minExercise
  2. 15Reverse carry8 minExercise
  3. 16Two venues, two liquidation engines9 minExercise
  4. 17Keeping the hedge flat9 minExercise
  5. 18Fees and hours to recover8 minExercise
  6. 19Flips, spikes, and the caps side by side8 minExercise
  7. ?Module 4 quiz

Module 5: Other books, the data, and the worksheet

  1. 20HIP-3 is a different formula8 minExercise
  2. 21Basis on a dated future9 minExercise
  3. 22One coin, three clocks8 minExercise
  4. 23Reading a funding history8 minExercise
  5. 24The carry worksheet9 minExercise
  6. ?Module 5 quiz