Today was a much more productive day. I finished reading Deep Work last night and decided to follow one of the recommendations to schedule out my whole day. Mostly. I got up at six, did my meditation and tea, then went for a two and a half mile run – the longest I’v done in years. I got back before any of the girls got up and decided to spend a few minutes on one of the projects on my Trello board.
I managed to get a pretty solid two hours in this morning working on one of the Rust Exercisms. I didn’t finish it, but learned a lot, and kept driving forward until my time was up. Then lunch, took the kids to the library, and did some slight rescheduling while Elder finished up her last day of school. I managed to get another forty five minutes in reading through this wonderful primer on Programming on Solana.
I spent a good deal of time working out some metrics on the Perpetual Finance funding. Yesterday’s rates were pretty bad, but things picked up earlier today. I actually started the day but converting some wBTC to USDC, moving it to xDAI and putting it in a 4x ETH long position. The liquidation price is just under two thousand dollars, and I don’t think it’s likely that we’ll see that price anytime soon. Regardless, I’ve found myself updating my master wallet sheet every time I take a break, or checking the funding rate whenever I find myself on Discord, so I figured a more formal dashboard was in order.
I started out by taking a CSV file from the historical funding rates on Redash and importing it into a Google Sheet. I filtered out results by BTC and ETH and popped them into separate tabs, then did some averaging and calculations to figure out what the trends were. So now I have a snapshot of what the past daily, weekly, and monthly rates would equate to at the current asset price. (I’m not trying to compute historical price data at this time.) I also looked at past periods as well, so I can see how yesterday, last week, and last month compare to the current trending rates. Hopefully it gives me some good indication as to they type of returns I can expect.
Yesterday’s funding was pretty bad, and it looks like last month was horrid as well. But hopefully having this snapshot will give me less anxiety. I’m also not very anxious about price action. Since I have what I consider very conservative liquidation prices, I should be able to hold these positions open perpetually and generate a decent income off of the funding. And again, since funding is determined by the position value, my income should increase as bitcoin starts making new all time highs. Seems like it’s just a matter of time.
Still, my spreadsheet has its limitations, and could use some marked improvement. I’d like to make it easier to update. Instead of filtering the sheet for ETH and BTC and copying the results to another tab, I should figure out how to pull and filter the data from the primary tab, so I can just import the new CSV and have the results update with a minimal number of steps. Of course I would want to automate the data import as well, but my options are limited there. Graph Protocol is an option, but at that point I’m better off programming something myself. My initial thought is to go with something in a Python notebook, but I might not even need to do that, I should just be able to pull what I need in a simple react app. I’ll have to explore.