Mark Fly

FinTech and DLT monster

[Mark Fly @definately_ape]

@bestcryptocas 🚀🚀🚀

[Mark Fly @definately_ape]

@bestcryptocas @StakeEddie @cryptopainzy @3orovik

[ImNotTheWolf @ImNotTheWolf]

-🧵How to Earn Big Yields, With No Risk, Using a Market Neutral Strategy:

Formula;
((Ex A x Fr A) x 3 x 365) + ((Ex B x Fr B) x 3 x 365)
-----------
(Ex A + Ex B)
=
F * 100 == APY

~Ex A: Exchange A Margin
~Fr A: Funding A Rate
~Ex B: Exchange B Margin
~Fr B: Funding B Rate

----

Before I break this down, let me highlight my own experience/farm... without giving out too much details (to avoid dilution of my farm) so that you can see the possibilities of this strategy, if done correctly.

I currently have $200K at 10x leverage to produce a $2mm position that is earning me (roughly) $2,100 a day. If this could stretch out to 12 months, it would earn me $766,500.

That's 383.25% APY for a low-risk, low-maintenance farm that I maintain manually.
(Without compounding)

The strategy is very simple. Every single major hedge fund manager / MMer utilizes this strategy. I would be shocked to meet one that doesn't. The only difference between them & you.. is that they have sophisticated algos/bots that automate it for the highest level of efficiency.

----

Strategies;
There's two ways to take advantage of this strategy. The 'Spot' method, which requires one exchange & less management OR the 'Leverage' method which requires two (or more) exchanges.

I'll break down the 'Leverage' method first, because it's the most lucrative.

- Leverage Method

:: 1. You need to find a 'spread' between 2+ exchanges, for the same pair (BTC/USDT or ETH/USDT preferred). You can use popular & free analytics sites like CoinGlass or Coinalyze to locate a spread (I'm not affiliated with either).

** Picture 1**

In the first picture we can see that on 1 exchange, ETH has a funding rate of -0.0123%, while another exchange shows a funding rate of +0.0516%.

You can 'arbitrage' that spread by going 1:1 LONG on the exchange showing -0.0123% & 1:1 SHORT on the exchange showing +0.0516%.

(This would produce a total APY of 34.985%. Slide that leverage meter to the right and you can easily 10x that to 349.85%.)

ie. If I'm $100 LONG on Exchange A & $100 SHORT on Exchange B, I'll be earning (100 * 0.0123%) 3 * 365 == 13.4685% on Exchange A and (100 * 0.0516%) 3 * 365 == 56.502% on Exchange B.

13.4685 + 56.502 == 69.9705 / 200 (Sum of A + B Positions) == 0.3498 * 100 == 34.985% APY

It's that simple............................ sort of.

----

:: 2. Risks - This strategy is "Low-Risk" because it's not exposed to the volatility of market movements. You're just scalping the funding spread between two different exchanges. However, you're still exposed to losses from exchange fees.

On CMC, the Top 10 exchanges show an average 'Taker' fee of 0.0545%.

**Picture 2**

This means you would need to farm TWO funding periods to be in profits. Because you'll need to factor for your entry & your exit fees.

Take note that amongst the top exchanges, funding can change frequently.

However on more obscure exchanges funding spreads can last for quite some time.

The retail traders on an exchange will eventually flip positions and the spread will disappear, so it's imperative to always keep track of your positions & analyze potential earnings accordingly.

Aside from funding fees, another risk you'll face is getting 'FTXd', meaning you will need to do proper DD to ensure that your collateral on an exchange will not get rugged like what the community recently experienced with JPEX.

Unfortunately this is easier said, than done.

To mitigate against "rug" risks, simply apply leverage so you don't need to over-expose yourself.

-------

:: 3. Management;
This is the best part, because management is relatively easy compared to predictive trading (betting whether the price goes up/down).

**Picture 3**

First you need to enter/exit your position at relatively the same time, to avoid loss from price spread. Depending on your position size & orderbook depth, this could take some time. Once you've built your position you simply need to set TP / SL right before liquidation points.

For example, I set my SL on Exchange A @ $32K while also putting a limit order to Take Profit on Exchange B @ $32K.

This will ensure that if the price of Bitcoin drops to my liquidation point, the other exchange will close it's position to absorb all of my collateral from Exchange A -> Exchange B.

Therefor not losing any funds. If this happens, you'd have to do something called 'Rebalance' which simply means you'll have to redistribute your portfolio to the exchange(s) again and re-open your position at the new price level.

Keep in mind that this is for EMERGENCY exit/entries only though, because during a liquidation event (periods of large volumes caused by liquidations), you can lose funds due to slippage.

The best practice is to gradually 'rebalance' your portfolio over time.

You can do this by simply closing your position manually & rebalancing accordingly. Also note that it's much safer to use this strategy with a maximum of 5x Leverage to avoid slippage risks. My 10x position can definitely be exposed to slippage loss at it's current state.

- Spot Method;

Ok now that you understand scalping a spread between funding periods amongst 2 exchanges, we can explain how to farm yield by scalping the funding fees from a single exchange & hedging your bets using spot assets.

This can be especially lucrative for Altcoins.

Simple Method;
1. Use 50% of capital to purchase crypto asset.
2. Use 50% of capital to do a 1x short of crypto asset.
3. Profit.

**Picture 4**

In this example, we'll take a look at #SOL. Over the past 2 weeks Solana's funding has been going crazy which allowed for a good farming opportunity.

If you had $10,000;

1. Buy $5,000 worth of SOL at $40.4
2. 1x Short $5,000 worth of SOL at $40.4
3. If you do this on the highest funding showed (0.0676%) you'll be earning 74.022% APY at virtually zero risk.

(rough math)
$5,000 * 0.0676% == 3.38 * 3 == 10.14 * 365 == $3,701.1 / $5,000 == 0.74022 * 100 == 74.022% APY

It's really that simple.

----

So you love that 74% yield, but you're too much of a broke pleb for that to even mean anything to you.

After all, how are you expected to feed your family without a Lambo to drive you to the grocery store?!
You need that Lambo, and you need it NAO! Your familia depends on it.

Earning 70+% yields on your $12.00 / hr McDonald's drive through minimum wage isn't gonna cut it.

No problem bro. I got you covered...

- Advanced Method;
Have you ever heard of the term, "Getting rich by OPM (Other People's Money)"?

1. Pleb Mode;
Go to the bank / Grandma. Ask for a loan. Do it with the loan.

2. Terra Luna Mode;
You know that $5,000 SOL you just bought using Grandma's money? Simply use it as collateral to take out a USDT loan and DO IT AGAIN & AGAIN & AGAIN!!! (WHAT COULD POSSIBLY GO WRONG!?!? :D)

3. BlockFi / Celsius Mode;
Start an illegal hedge fund. Promise unsustainable yields to your customers. Loan the money to yourself. Repeat steps #1 & #2.

4. Zhuper Cycle Mode;
Legalize the hedge fund. Do steps #1-3, but by this time you should have enough money to hedge your bets with your own money. This effectively puts all risk to your clients, while milking the profits for yourself. *click* Nice.

5. Ultimate God Exchange Cartel Mode;
Start an exchange & offer a 1.5-6% "Earn" staking product to your customers if they lock coins over a 1-6 month staking period. Loan yourself that capital & earn 10-100+% yields on their capital. Give your client peasants the 1-6% scraps they deserve. They should be thankful for the services you provide. It's not like they're smart enough to do this themselves...

-------

Fin.

[Mark Fly @definately_ape]

@Crypto_susana 🚀🚀🚀

Thanks!

[Mark Fly @definately_ape]

@bestcryptocas GM! 🚀

[Mark Fly @definately_ape]

#NewProfilePic

[Mark Fly @definately_ape]

@CrashOutIO Scammers 💩

[Mark Fly @definately_ape]

@MetaMask So good 😊

[Edgy - The DeFi Edge 🗡️ @thedefiedge]

In 2016, several of my millionaire friends suddenly went broke.

In January, we were popping bottles at Hakkasan. By the year's end, they asked if I knew if anyone was hiring.

I’ve seen this rapid rise and fall scenario play out constantly (especially in Crypto).

People earn riches too fast and don’t know how to handle it.

Some of you mf’ers are going to be rich in the next cycle. I want to see you keep and secure your wealth.

Making money’s just the first part. Keeping it is a different skill.

Mistake #1: Inability to Adapt

“What got you here won’t get you there.”

There’s some element of luck regarding success. Some people were at the right place at the right time or were early to a wave.

The problem? Once you start making money, competition comes. And each generation of competition becomes better and better.

Do you remember YouTube channels in the early 2010s? You could grow a large channel by recording a webcam in your bedroom.

Now? The bar of quality has increased. You need editors, great lighting, videos, scripting, a crew, and more. Some people couldn’t adapt to the changing landscape and fell off. That’s why you’ll see a channel with 2 million subscribers but only 5,000 views.

What worked 2 years ago may not going to work next year. Some Crypto strategies from the past cycle won't work in the next one.

I think about this a lot for myself. There are thousands of DeFi threadooors now than when I started this account (and some of them are pretty talented).

I’m constantly thinking of ways to “level up” my content and research, so I don’t get left behind in the next cycle.

Success is never owned. It’s rented, and you have to pay the bills every day.

Mistake #2: They didn’t know their true financials/taxes

Most people hate looking at their financials. They log into the bank’s website, see some money in the account, and go about their day. Because it’s so uncomfortable, it’s easier to bury your head in the sand and pray it all works out.

But they have yet to learn what their expenses or profits are. There’s no budgeting or cashflow forecasting.

Not understanding your numbers is like driving somewhere without a map or GPS.

And what ends up happening? They get caught off guard by a huge tax bill. They’ve been wasting money the whole year and don’t have the funds to cover it.

Know your numbers to prevent more significant headaches down the line. Everything you need to learn is free on YouTube.

Solution: If you’re uncomfortable with numbers, I can recommend 2 books. “Profit First” and “Simple Numbers”

Hire a solid accountant (It’s easier to find a girlfriend than it is to find a good accountant.) My advice? Shop around.

And for Crypto, use the discipline to write down the details of each trade. Use Koinly or another software to track your tax obligations.

Mistake #3: An Overinflated Lifestyle

If you’ve grown up without money, it’s easy to have low self-confidence.

I’ve felt shame about being “poor” my whole life. All my friends wore the latest Nike shoes, and my Mom would only let me shop at Target for shoes. University? All my friends had nice cars, and I drove a beat-up Honda Civic.

So what happens once you “make it?”

It’s natural to feel the need to show the world. So you buy a Rolex Submariner, a starter Porsche, take your girl to France, move to a fancy Condo, and get the fancy office.

And every time you flex, you get that sweet dopamine flooding your systems. You gotta show everyone, “I’M HIM!”

All of this is designed to fill our void, rooted in insecurities and unresolved issues. (Therapy helps).

Or sometimes, we fall into an “arms race” with our friends. “They went to Hawaii and the Maldives! I’m gonna look lame taking my girl to Panama City Beach”

Remember, you don’t see the surface level. They could be in massive debt and funding that trip on their credit cards. Or they’re prioritizing their vacations but have nothing saved for their retirements.

• You don’t have to prove anything to anyone.
• It’s better to be wealthy than to try and look wealthy.
• Being too flashy attracts the wrong kind of partners.
• No one’s thinking about you as much as you think they are.

Look, I like nice things myself.

1) I prioritize what’s worth spending money on. I’m willing to spend on the best technology like an M2 laptop, or the latest iPhone. I’m ok with staying at cheap airbnbs when I travel. I don’t wear designer brand clothes - most of my clothes are from Uniqlo. Resources are finite.

2) Delay gratification. You should reward yourself for success and upgrade your lifestyle. But do it slowly. You don’t have to drive a Honda one year, and a Porsche the next (Plenty of cars in-between).

Remember, every cent you spend is money you’re not reinvesting into yourself, Crypto, or a business.

Playing status games is a losing battle. Nothing feels better than financial security and freedom.

Mistake #4: Moving outside your Circle of Competence

My friend was a heavy hitter in the Amazon space. He knew how to launch new products and make them go viral. So you’d think the next natural path is to keep doing it?

Plot twist: He became part owner of a nightclub. A few months later, he funded his best friend’s dream of owning a restaurant.

People stopped pulling their weight. As soon as he saw he was losing money on his investment, he started throwing good money at bad money. He’d pour his time and energy into these money sinks.

The worst crime? He should have paid more attention to the multi-million dollar businesses. And they slowly started to die.

Success in one area doesn’t equate to success in another. Know your limits.

The more successful you become, those bright shiny objects become even more distracting.

Mistake #5: Burning Out

When you’re young and hungry, you have all the motivation and energy in the world. It’s easy to put in those 12 hours a day, 7 days a week.

You barely have time for the gym. You should cook, but ordering cheap Chinese food from Doordash is easier. You barely see your friends and family anymore.

This is unsustainable, and you’re going to burn out.

Some solutions:

• Read the book Essentialism.
• Say no more.
• Hire people.
• Build systems and automations into your business.
• Schedule retreats and vacations. Force yourself to go.
• Decide on your non-negotiables. For me, it’s exercising 5x a week and being in bed by 10 pm each night (even on weekends).
Figure out the minimum viable dose. Maybe you can’t see your family often, but schedule a weekly phone call with your Mom.

Are you too busy to work out? You can always knock out a 10-minute kettlebell workout.

Mistake #6: They don’t take profits.

You guys understand what taking profits means in Crypto. I’m going to apply it to business.

If money’s sitting in a bank account, your mind finds creative ways to spend it. It’s Parkinson’s Law.

Everyone has a certain “floor” in their life. If shit hits the fan, what would your lifestyle look like? For some people, it’s being homeless. For others, it’s moving back in with their parents at age 35.

When times are good, I ask myself, “How can I raise my floor?”

One of my friends bought a house in Cash for $500k a few years ago. I thought he was insane because interest rates were so low.

“Him: I’d probably make more money paying off the house and putting the difference into the stock market. But I want to take some BIG SWINGS with my work. If I fail, I have more confidence knowing I still have a pretty nice house.”

This is a way of playing defense. When you’re up, take some chips off the table.

Some examples of this are:

• Having a year’s worth of expenses as an emergency fund. Make it inaccessible as possible.
• Having a stash of Crypto in cold storage. I have some ETH that’s NOT staked and earning yield.
• Setting aside money in your retirement accounts each year.
• Having a solid insurance policy to protect you and your loved ones. (life/health)
• Invest in your Skills. I’ve invested a lot of time into developing my writing ability. In a worst-case scenario, I can still figure out ways to earn income with my writing.

SOME OF MY MINDSETS

1) Nothing lasts forever. Don’t rest on your laurels. The markets change. Competitors will fight tooth and nail for your spot. When times are good, don’t interrupt your momentum.

2) Know Your Numbers. I look at my numbers daily. I know where every dollar goes in my personal life, business, and Crypto investments. If I don’t know something, I pay a fractional CFO to help me understand. I have multiple people looking at my numbers to find my blind spots.

I regret so many years when I depended on my CPA to tell me how well I was doing. Everything you need to know is free on YouTube.

3) Build and Love Yourself. So many of these issues are rooted in insecurity. You inflate your lifestyle, trying to attract partners. Or you become part-owner of a nightclub for the “clout.”

The more you build self-esteem, the less desire you have to play status games.

4) Know How Much is Enough. I’ve seen friends “hit their number” in Crypto. And then the number kept getting bigger. Until they eventually lost it all via Terra / FTX.

A simple rule I follow is the 4% rule. Let’s say you only need $50,000 a year to live. You're set for life if you can build a net worth of $1.25m. Of course, it’s easier said than done.

Everyone focuses on “making it.” And I genuinely hope that you achieve the goals you have for yourself. But the battle’s not over.

How many artists do you see become one-hit wonders? Or celebrities who made it and then went broke?

Making it isn’t a one-time event. Once you make it, you have to fight to keep your spot.

[Mark Fly @definately_ape]

@rollbitcom So here is why we rekt all day 😂

[Moritz Kremb @moritzkremb]

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It just keeps growing and growing.

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[Mark Fly @definately_ape]

Choose crypto gambling wise with @bestcryptocas

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[Mark Fly @definately_ape]

@DareCasino How to use this ?

[Mark Fly @definately_ape]

@BetSwirl @chainlink or no 🤣

[moritz @onchainmo]

Web3 gaming: Just a hype or generational wealth?

I am pretty sure the next 100x opportunities are around the corner and I will explain you why I am so sure about it 🧵👇

(1/19)

[Louis @LouisCooper_]

The decentralized gambling space has exploded in the past few weeks.

So I compiled all the important catalysts and projects to look out for 🎲

[Mark Fly @definately_ape]

@coinfessions Me too, let’s be friends 🤝