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A strategy is a Morpho market Spiral can leverage, identified by its id (the Morpho market id, 0x + 64 hex). list_strategies and get_strategy return raw, unit-labeled facts — never a score.

The core facts

Reading carry correctly

carry = collateralApyPct − netBorrowApyPct, and leverage multiplies it. But negative carry can still leave a positive leverageApyPct, because the 1x base yield dominates at low leverage. Always read the leverageLadder rather than computing from carry alone.

Eligibility

list_strategies returns only eligible strategies — thin, near-maturity (PT), no-swap-route, or zero-APY markets are hidden. get_strategy will still resolve a specific id so an agent can inspect an existing position’s market.
Numbers are a snapshot (asOf) and move with the market. Rebuild any transaction right before signing.