// LEARN
// Funding mechanics, carry strategy, DEX perp internals. The math behind every play.
Trend-Following with a Long-Term Moving Average — Reading THE FRONT
Every other page in this series starts with the same check. THE FRONT marks where the trend holds its ground, the badge is the daily read, and the two together are the only trend call worth making.
Delta-Neutral LP — Market-Neutral Farming
The baseline structure of the series: the LP gains what the short loses, and vice versa. What is left is LP fees and funding — and a headline rate that is not the number people plan around.
The Dirty Hedge — Partial Hedging
A slider between all upside with all the risk, and the full delta-neutral. The fraction is the whole decision — a 30% short means 70% of the move in both directions, plus funding on the 30%.
The Funding Carry — Cash-and-Carry
Direction cancels harder than the delta-neutral LP: no pool, no impermanent loss, the carry is the whole trade. And when funding goes negative, the same structure runs backwards — holders pay.
Collared LP Explained: Capped Upside, Floored Downside
An LP range above the line, a hedge that only arms on a confirmed flip, and a floor that is a floor — not a refund.
Limit-Buy LP: Setting a Range Below Price, Explained
"Buy the dip with a paycheck" — and the honest version of that nickname: the paycheck only exists while the dip is happening.
How to Research a Crypto Contract Before You Touch It
The house research order — three reads, cheapest first, before any strategy page's mechanics even apply. It produces information, not a decision.
What a Security Entitlement Actually Is
You buy a share and receive a claim, not the certificate. What street name and nominee mean, why the market works this way, and what your entitlement does and does not carry.
Safe Harbor, SIPC Limits, and the Creditor Line, Explained
Segregation, pooling, and pro-rata shortfalls; what investor-protection coverage does and does not reach; and why the cap applies to the gap, not to your account.
Entitlement vs. Bearer Asset: The Custody Ladder
One spectrum, two ends. Three bearer roads with their honest costs, why paper gold is an entitlement in costume, and a five-rung ladder for moving carefully.
Reading the Net-Arb Board
Every arbitrage pitch shows you the left column. The right column is where the money actually is - or is not. Learn to read both, and run the arithmetic yourself.
What a Cold Wallet Stops (and What It Never Could)
The device guards your key. It was never designed to guard you. Read both columns of the threat board before you buy one - and the five habits that cost nothing and cover the gap.
Do You Need a Hardware Wallet? The Threat-Tier Decision
The real ways people lose crypto, ranked. The one tier a device defends - perfectly. And the three questions that decide whether you buy now or upgrade for free first.
Keys, Not Coins: What a Crypto Wallet Actually Holds
The purse was always empty. Where coins actually live, what an exchange balance actually is, and the five-line rehearsal that teaches self-custody for pocket change.
Why Custodial Bots Are Dangerous
Their bot holds your funds. Ours holds nothing. The safest hands for your keys are your own — here's the honest case, including what self-build does NOT fix.
The War Ledger — One Board for Every Position
Scanned perps, wallet spot, and delta-neutral LP on one board — plus a manual layer you type yourself. Every number is tagged SCANNED or LOGGED, and the two never blur. Here's how to read it.
Leveraged Carry — Eye-Popping APR, Honest Kill-Zones
Lever an HL perp at 40x to capture funding (UNHEDGED, default), or lock the rate via Pendle Boros for ~2x effective leverage. Same kill-zone in both modes — the slider just decides how loud.
Aster 102: Reading The Pit
Anatomy walkthrough of the Aster trading screen — every readout, every button, every dollar. Learn the screen before you risk anything on it. No money required.
Aster 103: Your First Trade
// Five steps from never opened a perp to opened, watched, and closed one. Real money. Small size. Real consequences. The graduation exam for the survival kit.
Aster 101: What The Hell Is A Perp?
First-principles primer on perpetual futures — what they are, how leverage works, why funding exists, and every term you'll meet on the trading screen. No money required. No experience required. Just read it.
Delta-Neutral Carry — Print While You Sleep
Long one venue, short another, collect the spread. Price doesn't matter — the gap does. Here's the play, the math, and the moments it bites.
How DEX Perps Differ From CEX
Onchain settlement, oracle dependence, MEV exposure, and why funding rates can diverge wildly between venues. The wasteland runs different rules.
What Is Funding (and Why It Pays You)
Funding isn't a fee. It's a payment between traders. Some days you pay it, some days it pays you. Here's how to read which is which.