# OTC Arbitrage: Crypto’s Best Kept Secret

- Channel: [Stable Summit](https://streameth.org/stable_summit)
- Date: 2025-10-07
- Duration: 08:17
- Watch: https://streameth.org/watch/yt-suUS6SYUsmE
- YouTube: https://www.youtube.com/watch?v=suUS6SYUsmE

## Description

"OTC arbitrage is crypto’s most profitable trade but it’s been off-limits to DeFi." - Behrin Naidoo, CEO/Founder, Neutrl

Most onchain yield is fleeting and emission-driven. Neutral is changing that by tokenizing a proven institutional strategy: OTC arbitrage. By buying discounted tokens from foundations and shorting them on perpetual markets, Neutral generates real, delta-neutral stablecoin yield. This talk reveals how the strategy works, how big the opportunity is, and how Neutral plans to open it up to DeFi with a composable protocol and synthetic dollar.

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00:00 Intro to Delta-Neutral Yield
00:34 Why Onchain Yield Fails
01:10 OTC vs. Spot Market Dislocation
01:40 Who Accesses OTC Deals Today
02:17 How Neutral Protocol Works
02:48 Discounted Token Buys + Perp Shorts
03:14 The Role of Perpetuals in Strategy
03:46 $6.5B in Synthetic Yield Tokens
04:14 $55B in Upcoming Token Unlocks
04:47 Real Returns from Past Neutral Trades
05:50 The Power of OTC Kickers
06:53 Partners Like Stix Drive Access
07:20 Yield in All Market Conditions
07:50 Launch Timeline and Composability Plans

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About: 
By Stake Capital Group and Party Action People, and presented by Curve Finance, Stable Summit has been gathering leaders in stablecoins almost quarterly since 2023. Our content is curated through hours of one-on-one research with the leading minds in the stablecoin space. Each program is a highlight reel of what leaders in stables are curious about in real time. Our audience consistently features the full spectrum of the stablecoin ecosystem, from DeFi protocols to institutions, from stablecoin issuers to central banks, and every llama in between.