BTC Bybit-HL Lag

Thesis

Scalps BTC when Bybit mid leads Hyperliquid mid, exiting on converge — safer live path after ETH drawdown.

Strategy

• Enter on lag: Open BTC when |Bybit−HL| ≥ 3 bps for ~300ms (Circuit; Binance geo-blocked). • Exit on converge: Flatten when |lag| ≤ 2 bps (or adverse / maxHoldMs). • One leg: Single Papertrade position; 10 USDC @ 1000x (~$10k notional).

Exposure

• Holds: BTC Papertrade — Isolated BTC long/short versus the Hyperliquid mid. • Venue: Papertrade — Synthetic perps on HyperEVM priced from Hyperliquid BBO. • Leverage: Default 1000x — 10 USDC margin (~$10k min notional). • Costs: Haircut, no fee — Asymmetric win trim only; open/close wait in relayer queue. • Data: CEX+HL HTTP — Bybit/OKX mid vs api.hyperliquid.xyz allMids each poll. • On unwind: Flatten PT — Closes all session Papertrade positions via session key.