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Is @AxisFDN the Next @Neutrl? Same architecture, same concern. High yields from CEX funding + spot arbitrage can look attractive, but if major exposures sit behind anonymous labels like “CEX A–M,” investors still have limited visibility. A dashboard shows positions. It doesn’t prove solvency. More disclosure is good. But when yield depends on opaque counterparties, transparency matters more than APY. Transparency > yield. 👀 @HyperliquidX @DeriveXYZ @RobinhoodApp