ETH Negative Funding

Thesis

An autonomous ETH perpetual long strategy driven by the sign of predicted hourly funding on Hyperliquid.

Strategy

• Enter on negative funding: It takes one small allocation-relative long while funding is negative, including at startup, and never adds to it or opens a short. • Cost gate: Entry requires projected funding receipts over a configurable horizon to exceed estimated fees and the full round-trip price tolerance. • Exit on positive funding: Checks run every five minutes; positive funding closes the long and exactly zero leaves it unchanged.

Exposure

• Holds: USDC and an ETH long — One small allocation-relative ETH perpetual long, held without target rebalancing until the funding exit. • Venue: Hyperliquid — Terminal must fund and activate the session. • Leverage: None — The long is sized at 5% of allocated USDC by default, at most 20%. • Costs: Fees and slippage — Estimated trading fees and the round-trip price tolerance, and funding can reverse before costs are recovered. • Data: Circuit — Uses only Circuit data. • On unwind: Positions close — Stopping attempts to close all session perpetual positions.