Monthly Report — April/2025

3 min readMay 10, 2025

Welcome to the Monthly Report!

At Neutral Trade, we believe in transparency, and this report is our way of keeping you informed. We’ll break down the performance of almost each strategy over the past month and share insights on recent and upcoming upgrades.

USDC Staking (JLP Delta Neutral)

Return: 0.5% (April/2025) (April APY: 7.76%)

Trading Volume (Summarized): $18.79M (April)

Total Fuel (Summarized): 94,133,693

The JLP Delta Neutral strategy continues to deliver attractive APYs, outperforming traditional yield instruments such as money markets and savings accounts.
While macro sentiment is improving, Juper Perps volume remained flat through April (without any significant pumps/dumps).

USDC Basis (Sanctum-Inf)

Return: 0.53% (April/2025) (April APY: 6.6%)

Total Fuel: 4,460,451

This vault currently exhibits the highest Sharpe ratio across NT strategies.
From a risk-adjusted yield perspective, it remains the most efficient deployment of USDC capital on-chain.

JLP Neutralized

USDC Terms — Return: 0.5% (April/2025) (April APY: 7.76%)

JLP Terms — Return: -10.4% (April/2025)

Trading Volume: $1.95M (April)

Total Fuel: 7,132,235

Due to recent market rallies, the vault has underperformed in JLP terms but continues to generate positive returns in USDC as expected from a delta-neutral strategy.
Performance is in line with model projections under volatility expansion.

SOL/ETH/BTC Super Stakings

Sol Super Staking:

Return: 1.04% (April/2025) (April APY: 13.21%)

Trading Volume: $991K (April)

Total Fuel: 736,222,086 🔥

ETH Super Staking

Return: 0.90% (April/2025) (April APY: 11.351%)

Trading Volume: $545K (April)

Total Fuel: 2,728,179

BTC Super Staking

Return: -0.18% (April/2025)

Trading Volume: $305K (April)

Total Fuel: 1,376,193

April performance was strong across SOL Super Staking.

SOL Super Staking continues to accumule massive amounts of FUEL.

Traders REKT

Return: -0.3% (April/2025)

Trading Volume: $408K (April)

Total Fuel: 1,896,436

April saw a small net positive PnL across Jupiter Perps traders.

Long SOL/Short ETH (Solana Flippening)

Return: 20.41% (April/2025) (April APY: 828%) 🔥

Trading Volume (April): $132K

Total Fuel: 16,219,008 FUEL

The SOL/ETH vault saw excellent results in April, with SOL pumped while ETH dumped — ideal conditions for this vault.

SOL Momentum (CTA-SOL; By Marco)

Return: 2.90% (April/2025) (April APY: 40.924%)

Trading Volume (April): $45.9M

Total Fuel: 245,149,729 🔥

We’re actively developing infrastructure to support high-turnover, high-liquidity strategies.
CTA-SOL remains the most effective option for Drift fuel accumulation.