Ask about OpenDelta Perpetual Bond · freeTotal Value Locked$12.30
TVL by Chain
Solana$12.30
Key Metrics
Total Raised$2.5m
Apr 26, 2024$2.5mRound: Pre-SeedInvestors: 6th Man Ventures
Nov 27, 2024Round: Pre-seed+Investors: Anatoly Yakovenko, Anagram, Stepan Simkin, Bartosz Lipinski, Shane Molidor
Protocol Information
OpenDelta's perpetual bond (OPB) is created by hedging Bitcoin collateral across a variety of global derivatives exchanges in a trust-minimized way. This process creates a position that’s stable in dollar terms, protects the holder against downside risk, and earns continuous yield from the derivatives market funding rate.
Methodology
TVL: TVL is calculated by multiplying the OPB token supply by the current USD value of 1.0 OPB. Initially worth $1.0, 1.0 OPB now reflects its increased value from accrued interest, derived using amountToUiAmount approach of Solana Token2022 Interest Bearing extension.View code on GitHubCompetitors
OpenDelta Perpetual Bond history
TVL is the default DefiLlama definition. Daily values are UTC snapshots from Nov 13, 2024 to Oct 27, 2026.
All-time high TVL: $5.11m on Feb 4, 2025. All-time low TVL: $12 on May 6, 2025.
Daily TVL, Sep 28, 2026 to Oct 27, 2026
| Date | TVL |
|---|---|
| Sep 28, 2026 | $12 |
| Sep 29, 2026 | $12 |
| Sep 30, 2026 | $12 |
| Oct 1, 2026 | $12 |
| Oct 2, 2026 | $12 |
| Oct 3, 2026 | $12 |
| Oct 4, 2026 | $12 |
| Oct 5, 2026 | $12 |
| Oct 6, 2026 | $12 |
| Oct 7, 2026 | $12 |
| Oct 8, 2026 | $12 |
| Oct 9, 2026 | $12 |
| Oct 10, 2026 | $12 |
| Oct 11, 2026 | $12 |
| Oct 12, 2026 | $12 |
| Oct 13, 2026 | $12 |
| Oct 14, 2026 | $12 |
| Oct 15, 2026 | $12 |
| Oct 16, 2026 | $12 |
| Oct 17, 2026 | $12 |
| Oct 18, 2026 | $12 |
| Oct 19, 2026 | $12 |
| Oct 20, 2026 | $12 |
| Oct 21, 2026 | $12 |
| Oct 22, 2026 | $12 |
| Oct 23, 2026 | $12 |
| Oct 24, 2026 | $12 |
| Oct 25, 2026 | $12 |
| Oct 26, 2026 | $12 |
| Oct 27, 2026 | $12 |
TVL at each month end, Nov 2024 to Oct 2026
| Date | TVL |
|---|---|
| Nov 30, 2024 | $5.05m |
| Dec 31, 2024 | $5.09m |
| Jan 31, 2025 | $5.11m |
| Feb 28, 2025 | $3.06m |
| Mar 31, 2025 | $3.06m |
| Apr 30, 2025 | $3.06m |
| May 31, 2025 | $12 |
| Jun 30, 2025 | $12 |
| Jul 31, 2025 | $12 |
| Aug 31, 2025 | $12 |
| Sep 30, 2025 | $12 |
| Oct 31, 2025 | $12 |
| Nov 30, 2025 | $12 |
| Dec 31, 2025 | $12 |
| Jan 31, 2026 | $12 |
| Feb 28, 2026 | $12 |
| Mar 31, 2026 | $12 |
| Apr 30, 2026 | $12 |
| May 31, 2026 | $12 |
| Jun 30, 2026 | $12 |
| Jul 31, 2026 | $12 |
| Aug 31, 2026 | $12 |
| Sep 30, 2026 | $12 |
| Oct 27, 2026 (latest) | $12 |
The .csv export on the chart above downloads every daily value. The same data is in the public API: https://api.llama.fi/protocol/opendelta-perpetual-bond
Frequently asked questions
What is OpenDelta Perpetual Bond's TVL?
As of Oct 27, 2026, OpenDelta Perpetual Bond has $12.30 in total value locked. TVL has increased 2.5% over the past 30 days.
What chains does OpenDelta Perpetual Bond operate on?
OpenDelta Perpetual Bond operates on Solana. Solana holds the largest share at 100%.
How does OpenDelta Perpetual Bond's TVL compare to similar protocols?
Among Basis Trading protocols tracked by DefiLlama, OpenDelta Perpetual Bond ranks #38 by TVL. The category holds $7.557b across 41 protocols, and OpenDelta Perpetual Bond accounts for <0.1% of that total. Similar protocols include Solstice, Solv Basis Trading, Unitas USDu, JupUSD, Solomon USDv, Ethena USDe, Falcon Finance, BitFi Basis, Aster USDF, and Tori Finance.