We employ a suite of arbitrage strategies providing liquidity to listed crypto markets by quoting bids and asks across order books. We then mitigate trivial beta accrual through dynamic position sizing weighted against the direction of those exposures. Our rules-based market making methods capture systematic risk premia and minimize execution times using proprietary techniques such as time-variant spread minimization in which arbitrage premiums are modulated to maximize execution.
We combine our systematic strategies with tactical risk management by trading derivatives through dark venues to strategically monetize market draw downs while generating idiosyncratic risk premia from positive market skewness. Through the use of options contracts traded over-the-counter, we maintain a constant downside hedge against the crypto-assets in which we generate ROI. Through multi-leg block trading and interest from lending we are able to offset premium costs incurred on insuring these cryptoassets.