#美SEC促进加密资产创新监管框架 USDT flexible 15% APY? Wake up, that's just entry-level stuff.

What are the real players doing? Let me break down a funding rate arbitrage strategy for you:

Suppose you have 1 million, all allocated to SOL spot, while simultaneously opening a 1x short position in the coin-margined futures account for a full hedge—so you’re not afraid of price movements, your position is locked.

Where’s the core profit point? Funding rate.

When longs keep paying funding to shorts, this arbitrage structure lets you pocket the full funding rate difference. Ideally, the annualized return can reach around 120%, far higher than simple stablecoin yield farming.

Of course, while this strategy looks simple, in practice you need to consider trading fees, funding rate fluctuations, and liquidity risk. It’s not a brainless all-in; you need to have a good sense of market timing.

Is it suitable for large capital? Depends on your perspective. At least in bull market structural trends, a lot of smart money is indeed using strategies like this.