POPA ReconDelta-Neutral, Compared: Radiant Prime vs Avant vs Liminal vs Ethena
Delta-Neutral, Compared: Radiant Prime vs Avant vs Liminal vs Ethena Basis trading is crypto's quiet yield engine, you earn from funding rates and the spot-futures spread, not from price going up. Ethena turned it into a $4B+ category. Now a new wave runs the same trade in very different ways: Radiant Prime as an institutional, multi-factor fund (independently verified), plus Avant and Liminal as onchain protocols. One trade, four builds; and yields that tell a story. Full breakdown.
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