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Best Delta Neutral Yields

Earn yield without directional exposure. Top delta-neutral strategies in DeFi.

Yield guide0.0% - 2.9% APYAdvancedMedium riskContent updated: 2/12/2024Rates updated: 8/16/2026, 10:17:49 AM
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Live dataUpdated today at 10:17via DefiLlama
ProtocolAssetChainAPYRisk
GMXHedgedHedged GLPArbitrum2.94%Livemedium
HyperliquidBasis tradeArbitrum20%medium
AaveSupply/borrow loopEthereum0.00%Livelow

APY rates marked "LIVE" reflect real-time market data from DefiLlama as of 8/16/2026, 10:17:49 AM. Rates update hourly.

Delta-neutral strategies earn yield while hedging price exposure. Ideal for stable returns regardless of market direction.

What is Delta Neutral?

Your position value does not change with asset price movements. You earn from other sources like funding rates or fees.

Top Strategies

Funding Rate Arbitrage

  • Long spot, short perp
  • Earn positive funding rates
  • Works best in bull markets

Basis Trading

  • Buy spot, sell futures
  • Lock in contango premium
  • Lower risk than funding

LP Hedging

  • Provide liquidity
  • Hedge IL with perps
  • Net positive from fees

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Track delta-neutral positions with Fensory. Monitor hedges and yields. Explore Strategies →

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