Generate Passive Yield
Put your capital to work without betting on price. Delta neutral strategies, funding rates, and risk management on Hyperliquid.
The delta neutral principle
Neutralise price exposure by combining a spot position and a same-size short perp. The total delta tends to zero: your price-related gains and losses cancel out.
Funding rates
The payment mechanism between longs and shorts that keeps the perp price aligned with spot and pays delta neutral strategies.
Portfolio margin
Isolated, cross, portfolio: three ways to compute collateral. How Hyperliquid's portfolio margin can nearly double the capital efficiency of a delta neutral position.
Open your position step by step
Five concrete steps: pick the asset, buy spot via Unit, short the perp 1x, monitor the funding, cash in. Worked example at $112,000.
Rebalance to keep the delta
When the price moves, the notionals drift. A 4-step procedure to realign spot and perp with minimal fees.
The risks to know
Delta neutral doesn't mean risk-free. Variable funding, liquidation risk, accumulated fees, mandatory rebalancing, smart contract risk, everything to anticipate before deploying capital.
Your funding rates and airdrops will generate taxable gains. The Tax Calculator estimates the bill before December 31, no nasty spring surprise.