ETH Negative Funding

Thesis

Earn funding payments and ETH gains by holding a long position while Hyperliquid's ETH funding is negative.

Strategy

• Entry: Every minute, open one ETH long when the current funding rate is below zero and no ETH long is held. • Exit: Close the ETH long when funding rises above zero; at zero, leave the position unchanged. • Size: Use the allocated USDC for up to 1x ETH exposure, raising small entries to Hyperliquid's $10 order minimum.

Exposure

• Holds: ETH long or USDC — An ETH perpetual long backed by USDC, or just USDC while waiting for negative funding. • Venue: Hyperliquid — USDC stays on Hyperliquid; select EVM Imported only, never Gas Seed ETH or Gas Seed SOL as source, destination or agent wallet. • Leverage: Up to 1x — Size the ETH long from allocated USDC, subject to Hyperliquid's $10 minimum order. • Costs: Fees and funding — Hyperliquid trading fees and hourly funding payments. • Data: Circuit — Current ETH funding, prices and order sizing on Hyperliquid. • On unwind: USDC on Hyperliquid — Close the ETH long and leave the remaining USDC on Hyperliquid.