Liquidity pools and lending platforms are closest to what you are asking for here (though they are very much not risk-free)
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One approach would be to stick eg 2 ETH and 5000 USDT into a pool, and shirt 5000 USD of ETHUSD perp futures against it to hedge ETH price risk. Then you earn the ETH futures premium (say 6-10%) plus the liquidity pool rewards (another 6-7% maybe) and your overall exposure…
…looks like short gamma, you do well when the price is relatively stable but lose on large price moves in either direction. Not quite passive because you need to manage margin on the futures position and periodically adjust the futures hedge to avoid taking delta risk.
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A lending platform like Compound is much more straightforward, can just deposit stablecoins and earn yield (like 6-10% at the moment I think) and your risk is that a big price drop wipes out margin traders and they can’t pay you back, so it looks a lot like HY credit exposure
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Likely that
@therobotjames or@robertmartin88 may have something useful to add - Show replies
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