Daily Market Signal

Funding Mirage Index

How much of today's advertised yield is likely to survive clean-core adjustments?

elevated
49%

49% of funding yield is fake.

Only 51% survives reality

Check Mirage before trading funding.
Last updated: May 27, 2026, 05:37 PM
What Changed Today

Moderate mirage levels. Standard caution advised.

Drivers
  • QQQ showing high mirage (96%)
  • MRVL showing high mirage (96%)
  • JUP showing high mirage (93%)

Moderate yield inflation present. Standard caution applies.

Market Interpretation

elevated Conditions

Funding yield is somewhat overstated.

What this means
  • Some positions may underperform vs advertised yield
  • Consider diversifying across multiple opportunities
  • Monitor position health more frequently
Highest Mirage
— Least Reliable Yield
1
QQQ
OKX
97%
2
MRVL
BYBIT
97%
3
JUP
BYBIT
94%
4
IBM
OKX
91%
5
IRYS
OKX
91%
Assets where advertised yield is most likely to decay before capture.
Lowest Mirage
— Most Reliable Yield
1
Q
BYBIT
1%
2
UMA
OKX
2%
3
XVS
BINANCE
2%
4
FLOW
OKX
2%
5
H
BINANCE
2%
Assets where advertised yield is closest to what you can actually capture.
Mirage shows how much advertised yield may not survive fees, decay, and capacity limits.
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49% of funding yield is fake.

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Funding looks high. Reality says otherwise. 49% of funding yield is fake. Mirage Index: 49%

Help others avoid funding mirages

Go Deeper

Analyze Individual Opportunities

The Mirage Index shows market-wide conditions. Use the FYOS Screener to find specific opportunities with stronger attractiveness and clearer deployability context.

Open Live ScreenerView Top Funding OpportunitiesRead the funding carry strategy guide
Methodology

How the Mirage Index is Calculated

Aggregate Analysis

Computes average mirage component across all tracked funding opportunities.

Adjusted vs Headline

Compares advertised APR against what remains after clean-core adjustments.

Daily Refresh

Updated daily to reflect current market crowding and yield conditions.

The Mirage Index is derived from FYOS prediction and validation layers. Not financial advice.

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