ETH Negative Funding

Thesis

Trades an ETH perpetual long using the sign of Hyperliquid funding.

Strategy

• Negative funding entry: Opens once per negative regime when projected funding receipts exceed estimated round-trip fees and price tolerance. • Positive funding exit: It closes when funding becomes positive, checking predicted next hourly funding each minute. • Sizing: Entry notional is a configurable fraction of allocated USDC, with no top-ups or rebalancing during that regime.

Exposure

• Holds: ETH perp long — One long ETH perpetual while funding is negative, backed by allocated USDC. • Venue: Hyperliquid — An autonomous strategy on Hyperliquid; Terminal handles funding and activation. • Leverage: None — Entry notional is a percentage of allocated USDC, without a leverage multiplier. • Costs: Fees and funding — Trading costs and changing funding can outweigh funding receipts. • Data: Circuit — Uses Circuit's funding, market and midpoint data. • On unwind: ETH long closed — Stopping attempts to close the entire session position.