# FAQ Answers to the most common questions about Zirodelta, funding rate trading, and delta-neutral strategies. *** ## What is a funding rates DEX? A funding rates DEX is a decentralized trading platform built specifically around earning yield from perpetual futures funding payments. Not directional price speculation. Zirodelta is the only DEX built specifically for this: every feature (Farm Score™, Autopilot, lending vault, analytics) is designed around funding rate capture rather than treated as an afterthought. On standard perp exchanges, the funding rate is a number you check before opening a trade. On Zirodelta, the funding rate is the product. *** ## What is delta-neutral yield? Delta-neutral yield means earning returns from funding rate payments without taking any directional exposure to the underlying asset's price. You hold equal and opposite notional in spot and perpetuals on the same asset. Price movements cancel out between the two legs. Yield comes purely from the funding payment you receive as the short position holder (in positive funding markets). If the price of BTC goes up 20% while you are holding a delta-neutral position on BTC, your profit/loss from price is zero. Your only income is the funding payments collected each hour. *** ## Can my delta-neutral position get liquidated? In Zirodelta's Autopilot: no, not by price movements. The position is fully hedged. Your short perp loses value when price rises. But your long spot gains the same amount. There is no directional margin that can be exhausted. Hyperliquid will not liquidate a balanced, fully hedged position due to price movement. The only risk is **sustained negative funding**: if the funding rate reverses and you continue holding, you pay instead of receive. This is a yield risk, not a liquidation risk. Autopilot can be configured to close positions automatically when funding drops below a threshold. *** ## What is Farm Score™? Farm Score™ is Zirodelta's proprietary 0–100 market ranking. It aggregates 9 microstructure signals into a single score per market. Score above 70: shorts are currently earning funding. Score below 30: longs earn. Scores between 30–70 are contested or low-conviction. The 9 factors include: current funding rate, predicted next settlement rate, CVD, long/short ratio, OI delta, OI absolute level, rate persistence, cross-exchange rate divergence, and microstructure momentum. Farm Score is recalculated continuously from live data via the Intelee signal model running on ClickHouse (10B+ rows, <10ms query latency). *** ## Why does Hyperliquid's 1-hour settlement matter? On Binance, Bybit, and OKX, funding settles every 8 hours 3 times per day. On Hyperliquid, funding settles every hour 24 times per day. This means the same annualized rate compounds 8× more frequently. It also means funding rate signals update faster. You can react to a rate reversal within the current hour rather than waiting up to 8 hours for the next settlement. All of Zirodelta's APR calculations use the correct 1-hour basis: `hourly_rate × 8760 = annual rate`. Never 8-hour math. *** ## Is Zirodelta non-custodial? Yes. Zirodelta never holds user funds. You sign two one-time approvals: `approveAgent` (lets Zirodelta's backend sign orders on your behalf) and `approveBuilderFee` (enables builder fee collection on your orders). All positions, balances, and collateral remain on Hyperliquid under your own address. The agent wallet has signing authority for order management only. It cannot withdraw funds, transfer tokens, or take any action that moves your collateral. *** ## How does the agent wallet work? The agent wallet is a Hyperliquid-native permission system. When you sign `approveAgent`, you authorize a specific address (Zirodelta's backend) to submit signed orders from your Hyperliquid account. The agent can place and cancel orders. It cannot withdraw funds. Your balance stays in your Hyperliquid account. Zirodelta's backend can only place and cancel orders. The same operations you can do yourself. You can revoke the agent at any time by signing `revokeAgent`. See [Agent Wallet](/autopilot/agent-wallet.md) for full details. *** ## How does the Pro subscription work? Pro costs $10 USDC per 30-day period, paid on-chain via Hyperliquid's `usdSend` action. Send exactly $10 USDC to the Zirodelta treasury address shown in the app. Activation is automatic within one block of confirmation. Pro unlocks Autopilot (delta-neutral automation) and the Automation tab (rule-based auto-open/close strategies). Everything else. Trading terminal, Farm Score, charts. Is free. No auto-renewal. You must renew manually for each 30-day period. See [Pro Subscription](/autopilot/pro-subscription.md). *** ## What is the Lending Vault? A Solidity smart contract on HyperEVM. Users deposit HYPE, BTC, or ETH. The vault supplies these assets to Hyperliquid's native borrow/lend reserve via the CoreWriter precompile. A direct L1 call from Solidity, no bridge required. Autopilot borrows from this vault to execute the spot leg of negative-funding delta-neutral trades. Depositor yield: 8–25% APY depending on utilization. The vault is built and architecturally complete. It is not yet deployed on HyperEVM mainnet. Launching soon. *** ## What is the Zidee Wallet? Zidee is a mobile-first PWA front-end for Zirodelta's Autopilot. Access it at [wallet.zirodelta.com](https://wallet.zirodelta.com). You log in with Discord or email through Privy (no seed phrase to back up at sign-up). Privy holds the master key inside a TEE, the server can't sign withdrawals, only the agent wallet you approve for trading. Deposit USDC, swap into ZDLT to unlock a tier, and Autopilot opens delta-neutral positions in the background. Designed as a passive yield product for users who don't want to learn a perp terminal. *** ## What are the fees? * **Perp builder fee**: 5 bps (0.05%) on every filled perp order * **Spot builder fee**: 50 bps (0.5%) on every filled spot order * **Pro subscription**: $10 USDC per 30-day period * **Lending vault**: vault spread on borrow rate (exact amount disclosed at launch) * **Withdrawals**: zero * **approveAgent / approveBuilderFee**: zero (on-chain signatures, no token cost) Builder fees apply in addition to Hyperliquid's own taker fees. See [Fees](/trade/fees.md) for the complete breakdown. *** ## How does Zirodelta earn revenue? Three live revenue streams: 1. **Builder fees**: 5bps perps / 50bps spot on every order Zirodelta routes 2. **Pro subscriptions**: $10 USDC/month on-chain 3. **Hyperliquid referral program**: 10% of Hyperliquid's own fees from referred users One upcoming stream: **vault spread**: the margin between the borrow rate traders pay and the supply rate depositors earn from the Lending Vault. No token inflation. No treasury minting. Zirodelta earns only when users trade or subscribe. *** ## Does Zirodelta have a token? Yes. The $ZDLT token exists on Solana as a utility and governance token. It is not required to use the DEX, Autopilot, or the Lending Vault on Hyperliquid. Trading and automation access do not require holding $ZDLT. *** ## How does Zirodelta compare to Ethena? Both Zirodelta and Ethena use delta-neutral funding rate strategies. Key differences: | | Ethena | Zirodelta | | ---------------- | --------------------------------------- | ----------------------------------------------------- | | Custody | Off-exchange custodians (Copper, Ceffu) | Non-custodial agent wallet: funds stay on Hyperliquid | | Liquidation risk | USDe depeg possible if reserves deplete | No liquidation risk from price movement | | Settlement | 8-hour CEX basis | 1-hour Hyperliquid settlement | | User control | No: Ethena manages the strategy | Yes. You control positions via Autopilot | | Yield token | USDe/sUSDe (composable DeFi token) | No yield token: yield paid in USDC directly | | Scale | \~$6.7B TVL | Building in public | *** ## What data does Zirodelta track? * 9.4M+ funding rate settlements since 2024 across Hyperliquid, Binance, and Bybit * 90-day rolling history per coin * ClickHouse microstructure database: 10B+ rows of trades, order book snapshots, liquidations, and 5-minute signal aggregates at <10ms query latency * Live Hyperliquid WebSocket data ingestion via the Hyperflow pipeline (updates every \~2 seconds) All numbers displayed in the Zirodelta interface have a ClickHouse query behind them. No marketing projections. *** ## How do I get help or report a bug? * **Discord**: [discord.gg/Ur85YWJbd](https://discord.gg/Ur85YWJbd) * **Telegram community**: [t.me/zirodelta](https://t.me/zirodelta) * **Twitter/X**: [@zirodelta](https://x.com/zirodelta) * **Founder**: [@kisra\_fistya](https://x.com/kisra_fistya) --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://docs.zirodelta.com/more/faq.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. 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