Question 1

双币理财和直接卖出期权有什么区别？

Accepted Answer

双币理财本质上是期权卖方策略的包装版本，两者风险收益结构相同。关键差异在于：(1) 收益率：直接卖出期权通常能获得 15-40% 更多的 premium；(2) 透明度：期权市场显示实时买卖价差，而双币理财的 premium 扣除是隐藏的；(3) 灵活性：期权可以提前平仓或展期，双币理财锁定到期。

Question 2

What are dual investment hidden costs?

Accepted Answer

The primary hidden cost is the premium spread — the difference between the raw options premium available on the open market and the yield offered in the dual investment product. This spread typically ranges from 15-40% of the raw premium. Additional hidden costs include: execution timing differences, IV lag (pricing based on stale volatility), and unfavorable strike price rounding.

Question 3

双币理财的真实收益率是多少？

Accepted Answer

双币理财的真实收益率 = 交易所报价APY - 隐藏成本。通过本工具对比发现，交易所通常会从原始期权 premium 中扣留 15-40% 作为中间费用。例如，如果直接卖出期权年化收益为 30%，同等条件的双币理财产品可能只报价 18-25%。具体差异因交易所、币种、到期日和市场波动率而异。

Question 4

Which exchange offers the best dual investment yields?

Accepted Answer

Yields vary by asset, strike price, expiry, and market conditions. This tool provides real-time comparisons across Binance, OKX, and Bybit dual investment products, benchmarked against Coincall options prices. Generally, newer or smaller exchanges may offer more competitive yields to attract users, while larger exchanges may have wider spreads.

Question 5

双币理财有风险吗？会亏钱吗？

Accepted Answer

双币理财不是无风险投资。主要风险包括：(1) 转换风险：到期时如果价格穿过执行价，你的资产会被按执行价转换；(2) 机会成本：如果市场大幅上涨超过执行价，你将错失涨幅；(3) 交易对手风险：依赖交易所的信用。虽然你一定会收到报价的收益率，但转换后的总价值可能低于直接持有原始资产。

Question 6

How does this tool calculate the yield gap between dual investment and options?

Accepted Answer

The tool fetches real-time dual investment product data (APY, strike, expiry) from Binance, OKX, and Bybit APIs, then retrieves the corresponding options premium from Coincall for the same underlying, strike price, and expiry date. It calculates the annualized yield for both, adjusts for trading fees, and presents the difference as the yield gap — representing the hidden spread the exchange takes.