ETH Negative Funding

Thesis

Trades ETH perpetuals on Hyperliquid according to the sign of predicted next funding, going long while funding is negative.

Strategy

• Enter on negative funding: It enters once per negative-funding episode, including negative funding at startup, and missing or stale evidence skips trading. • Exit on positive funding: It closes while funding is positive, and an outside close or liquidation pauses entries for 24 hours. • Sizing: Entry notional defaults to 5% of allocated USDC, without increasing an existing position or rebalancing it.

Exposure

• Holds: USDC and an ETH long — An autonomous long-only ETH perpetual position sized from this session's allocated USDC. • Venue: Hyperliquid — ETH perpetuals on Hyperliquid; fund and activate it through Terminal. • Leverage: None — Entry notional is a share of allocated USDC, without a leverage multiplier. • Costs: Fees and slippage — Trading fees and slippage, and changing funding can outweigh funding receipts. • Data: Circuit — Uses only Circuit data. • On unwind: ETH exposure closes — Stopping attempts to close all session ETH exposure with reduce-only orders.