Basis trade capacity after the Q2 funding reset
Perp funding compressed 40% across the three largest venues. We size how much capital the neutral book can absorb before slippage eats the carry.
Tokenised T-bills: counting the layers of counterparty risk
Four issuers, four very different failure modes. A framework for pricing the wrapper, not just the yield.
Unlock calendar, H2 2026
Every scheduled unlock above $25M, ranked by float impact rather than headline size.
What MEV protection actually costs a retail-sized order
We routed 1,200 test orders with and without private mempools. The answer is smaller than you think, and it is not zero.
Drawdown limits beat stop losses on-chain
Why we enforce peak-to-trough caps in the contract instead of trusting a keeper bot to react in time.
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