ETH Negative Funding

Thesis

Goes long ETH on Hyperliquid during negative predicted hourly funding and closes when funding is positive.

Strategy

• Negative funding entry: Entry requires projected funding over the configured horizon to exceed assumed round-trip fees, price tolerance and a funding-reversal buffer. • Positive funding exit: Positive funding exits regardless of costs, and funding of exactly zero leaves the position unchanged. • Sizing: Sizes entry from allocated USDC without adding to an existing position, subject to liquidity and minimum-order limits.

Exposure

• Holds: ETH perp long — A directional ETH perpetual position, not a market-neutral funding hedge, sized as a percent of allocated USDC. • Venue: Hyperliquid — Fund and activate through Terminal. • Leverage: Small notional target — Entry notional is 5% of allocated USDC by default; the small notional target is not a guaranteed loss cap. • Costs: Fees, partial fills — ETH losses, liquidation, fees and partial fills can outweigh funding receipts. • Data: Circuit — Checks fresh funding and prices through Circuit; missing evidence skips the check. • On unwind: ETH exposure closed — Stopping attempts to close all session ETH exposure.