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BASIS· by Hedgen--:--:-- UTC
RegimeCARRYComposite+5.4%Peg8bpsReserve86bpsENA unlock——

FUNDING

4/4 venues · BTC + ETH · perp USDT

COMPOSITE

NEUTRAL
+1.5%

Simple average of the 4 venues, then a 50/50 BTC/ETH blend — annualized. This is the carry that drives sUSDe yield. Open-interest weighting is V2 (see /methodo). The regime is computed on this composite (EXPANSION / CARRY / NEUTRAL / COMPRESSION bands).

8%2026-08-19 20:00 UTC
12%4%-3%
125 pts · 90dzones: compression · neutral · carry / expansion
as of 14:14:48 UTC

VENUES

NEUTRAL
VenueAssetRate (native)IntervalAPR annualizedSpark
BinanceBTC+0.0033%8h+3.6%
BinanceETH+0.0037%8h+4.0%
BybitBTC+0.0030%8h+3.3%
BybitETH+0.0039%8h+4.3%
OKXBTC+0.0047%8h+5.1%
OKXETH-0.0007%8h-0.7%
HyperliquidBTC+0.0007%1h+6.4%
HyperliquidETH-0.0016%1h-13.7%

Rate shown at its native interval (Binance / Bybit / OKX: 8h · Hyperliquid: 1h), then annualized. Sparklines over the 90d window (accumulated by the crons; dashed while history is still short).

as of 14:14:48 UTC