BitMEX accidentally invented Digital Credit back in 2016 and nobody talks about it enough.

The play: Hold spot BTC + open 1x short perp = synthetic USD position that pays YOU funding.

You're basically a yield farm for degens going long with leverage. They pay you to stay delta neutral.

This is the OG basis trade before TradFi even knew what a perp was. Wild that it took the market years to realize the alpha sitting right there.