😋The new fluffing task is here😆This time it’s a bit more complicated
📖Binance hedge $OPN fluffing 200% annualized financial activity over 7 days
💰Task requirements➡️300+ u principal to fluff to 12 u in 9 days
📝Without further ado, let's start the tutorial⬇️
1⃣️First, ensure that your "U-based contract account" or "Unified account" has at least 600 u of collateral, the more the safer
2⃣️If you are like me and still hold USD1 in the leveraged account➡️you can go to account mode and change "Classic mode" to "Unified account"➡️this way we can directly use USD1 as collateral
3⃣️Go to spot market➡️check the price candlestick of OPN➡️see if the volatility is relatively stable➡️set a price close to the current price, but won’t be executed immediately➡️for example, when the current price is 0.3260, set it to 0.3250, select 1000 OPN➡️do not click buy immediately
4⃣️Go to contract U-based➡️choose the same price as in the spot market, but select 1038➡️ensure it won’t be executed immediately either➡️then click to open short➡️immediately switch to spot market and click buy
🎈Why is the quantity set to 1038 when opening a short position? Because the final financial gain will be about 38 OPN, which effectively locks in the profit of 38 OPN in advance
5⃣️Patiently wait for the transaction, I waited about a minute and both sides executed simultaneously➡️if it hasn’t executed or the price deviates too far from the current price➡️then cancel the order and adjust the price
🎈Make sure both the spot and contract transactions are completed, if only one side is executed, the other side should cancel and set a price that can be executed immediately!
6⃣️Go to assets➡️financial management➡️subscription➡️choose OPN’s 7-day fixed-term financial product
📅3/8 subscription➡️3/9 interest start➡️3/17 18:00 automatically transfer to current financial redemption➡️repeat the trick➡️set the prices in spot and contract➡️sell and close positions simultaneously
⚠️What are the potential risks of this operation?
1⃣️If the price of the currency rises significantly beyond the margin ratio, it may lead to liquidation➡️you need to redeem the financial product in advance and immediately sell OPN
2⃣️The funding rate currently charges for going long and short, if it reverses, there will be additional costs incurred
3⃣️Not strictly following the fluffing intention, having a mindset of chance to earn more, without hedging at the same price and closing positions at the same price
🧠This task idea is provided by X's @OxLajiao @0xStudy @fffeeggf, many thanks!