I suspect less serious traders will appreciate it too, even if they never ask for it by name. A hedged book that doesn't get liquidated on one leg is just "you need less cash in the app to do the same thing."
The tricky part is combining best execution with efficient margining. In TradFi a prime broker does that, but how do you do it onchain without bringing back a trusted balance sheet?
@kelxyz_@TradeAlpha 100%. In the same vein, nobody buys a 0DTE call for the Greeks, they buy the payoff screen.
We can build that with perps and preset TP levels as you say, except there's no expiry to lose to. Would love to chat more, mind if I DM you?
The edge used to be the people. Now it's the infrastructure moat they built, which their employers own.
When I started, two decent quants could run double-digit Sharpe from a garage. Today the tech bill alone is orders of magnitude bigger. Hence the consolidation, and why I don't think a seed check can build a Citadel or Jump.
A Sharpe ~2 hedge fund is a different story.
@grahamfergs Most retail buyers only ever wanted the price. CFDs have sold exactly that for decades and nobody pretends otherwise. The problem isn't synthetic exposure, it's the label. Call it a note or a perp and nobody's confused.
@outcomenoble@Polymarket Next market request: Polymarket’s next taker delay change: 100 or 200? They’ve gone 250->50->150, someone there is running a binary search.
"...in nearly 75 percent of the weekend closures that our study sampled, the crude oil perpetual contract’s weekend price landed closer to the benchmark’s Sunday reopening than the benchmark's own Friday close."
The perp isn't tracking the benchmark, it's front-running the benchmark's own reopen.
And it's a liquidity story, so it compounds. The endpoint isn't CME and the perp competing to price crude on Sunday night. It's the perp already having priced it, and CME opening to that number.
@JoeSaluzzi@YouTube Genuine question since you've watched this space longer than most: is the interesting part the 50ms, or the fact that the input is a government official's speech? The first has been for sale for decades. The second feels new to me