Deleverage

One risk view across every venue.
Built by traders to monitor exposure, liquidations, funding, hedges and alerts across your entire crypto portfolio.

[Deleverage @deleverage_xyz]

Landing + interactive demo are live.

We’ve also opened applications for the upcoming Deleverage closed beta.

Looking for multi-venue traders willing to test it, break it and tell us what’s missing before launch.

CEXs, DEXs, wallets. One live risk view.

Request beta access ↓
https://t.co/nTCwSJPOOz

[Deleverage @deleverage_xyz]

Seeing reports of a possible Bitget security incident right now, with $170m+ reportedly moved from hot/cold wallets.

no official confirmation from Bitget yet, so treating this as unconfirmed for now.

definitely one to watch closely if you have exposure there.

[Hacken🇺🇦 @hackenclub]

🚨 Bitget - reportedly hacked for $100M in $USDT, $ETH, $BTC, $AVAX, $BNB and more.

Users are reporting blocked withdrawals, and assets are moving from the Bitget cold wallet.

Under investigation by our team.

[fabiano.sol @FabianoSolana]

The bitget hacker showed no mercy

> Bitget celebrates its 8th birthday
> Employees go to sleep (Asia)
> Hacker steals nearly $200M

[Deleverage @deleverage_xyz]

I'm binding my Twitter account to my Web3 Official Account on @DeBankDeFi

https://t.co/vyyTofOiQY

Official Account ID: 120754

[Deleverage @deleverage_xyz]

what about the price spread?
i tried something similar and while i earned the funding the price spread started becoming wider erasing all my funding eargnings

i see that something similar happened to you:
+35$ from funding
- 38$ from price spread

-4$ TOT from closing the arbitrage

[Deleverage @deleverage_xyz]

Some of the best farming venues still don't give you a proper account API.

so what happens? spreadsheets, custom scripts and a lot of manual checking 😅

we built manual accounts into Deleverage for exactly this.

no account API shouldn't mean that part of your book becomes invisible.

no API ≠ no visibility.

https://t.co/dCi3pKDE1r

[Deleverage @deleverage_xyz]

been doing this for years now, solid breakdown.
i'd only add that you should keep a close eye on liquidation distance, margin usage and cross leverage on both venues. when the market moves fast, a “neutral” trade can still get dangerous pretty quickly.
once you have a lot of positions open, managing the whole book becomes the hard part.

[Deleverage @deleverage_xyz]

everyone is optimizing DN setups to farm points.

we're focused on what happens after the positions are open.

funding flips. margin gets tight. hedges drift. one venue becomes the weak link.

you farm the points. we keep the risk in view.

Deleverage — one risk view across every venue.

@variational_io @Lighter_xyz @extendedapp @risextrade

[Deleverage @deleverage_xyz]

got it, that actually makes a lot more sense. i'll try something closer to this setup this week — focus mainly on OI and only generate some volume when the spread is really cheap.

5m OI is way too much for my portfolio considering i'm diversified across several venues 😅 but i should be able to keep around 1m OI open on Var this week. curious to see how many points that gets me

[Deleverage @deleverage_xyz]

still trying to figure out what a realistic points/$1m volume number is on Var 😅
i've seen people getting closer to 4 pts/$1m, while yours looks more like 9-10.
i tried DN with US100 on Var and QQQ on Lighter x Robinhood and got around 0.01% total spread. so doing $1m of Var volume costs me roughly $100 round trip.

if i only get 4 points and value them around $25 each, i'm basically farming for free lol

am i missing something here? is most of your allocation coming from OI / holding time rather than volume?

[Deleverage @deleverage_xyz]

@Lady_Farming @variational_io i set a reminder this time 😂

[Deleverage @deleverage_xyz]

yeah, without an account api it's pretty easy to lose track of MM when you're running that close to max capacity.
At least total cross leverage is something you can still reconstruct from your positions + live prices and use as an early warning with alerts, so that you know when it's time to add margin or cut something.

sucks though 😅 hope next week's farming goes much better

[Deleverage @deleverage_xyz]

@Absoluto92 @variational_io @risextrade why did you open the swap leg with the weekend coming? pretty risky imo 😅
i tried something similar with oil this week on variational — funding was paying me, but price kept moving against the position so i was still slightly negative most of the time.
i feel you lol

[Deleverage @deleverage_xyz]

maybe i'm missing something in the points math here.

i tested US100/QQQ and US500/SPY between Variational and Lighter, basically the tightest pairs i could find. my actual round-trip execution cost came out around 0.01%.

with $500k per leg, opening + closing gives me ~$1m Variational volume and roughly ~$100 in execution cost.

if the ~4 pts/$1m estimates i've seen are right, even valuing points at $25 i'm basically just breaking even.

are you seeing much higher points/$1m right now because of the swap multiplier, or is there something else i'm missing?

[Deleverage @deleverage_xyz]

@chivasxbt @variational_io curious about the setup here — are all these positions legs of DN trades hedged on other venues, or is some of the $200k OI directional too?

[Deleverage @deleverage_xyz]

curious about the maker hedge leg here.

do you place the limit hedge first and only trade TxFlow once it fills, or do you hit TxFlow first and then wait for the maker fill?

because in the second case you're temporarily directional, and one bad move can easily cost more than the taker fee you saved 😅

are you automating the two legs or doing this manually?

[Deleverage @deleverage_xyz]

Risk Check #001

+$500k BTC on Venue A
-$500k BTC on Venue B
Net delta: ~$0
Looks perfectly neutral.
But Venue A has plenty of collateral while Venue B is getting close to its margin limit.

Same hedge. Very different risk.

The question isn't only “am I hedged?”

It's which venue gets into trouble first.

[Deleverage @deleverage_xyz]

@0xYkp Variational seems pretty obvious