ETH Negative Funding

Thesis

Long ETH on Hyperliquid during negative funding and close during positive funding.

Strategy

• Entry: Each minute it checks the predicted next funding rate and enters once per negative episode, including an initially negative reading. • Exit: Positive funding closes the long, zero preserves the position, and an outside close or liquidation pauses entries for 24 hours. • Sizing: Entry notional defaults to 5% of allocated USDC without leverage multiplication or continuous rebalancing.

Exposure

• Holds: ETH long perpetual — A long ETH perpetual position backed by allocated HyperCore USDC. • Venue: Hyperliquid — Terminal must activate it with EVM Imported and allocated HyperCore USDC; Gas Seed ETH and Gas Seed SOL are excluded. • Leverage: None — Entry notional defaults to 5% of allocated USDC without leverage multiplication. • Costs: Taker fees, slippage — Taker fees, slippage and changing funding can outweigh funding receipts. • Data: Circuit — Uses Circuit funding and market data only. • On unwind: ETH long closed — Stopping attempts to close all session ETH exposure.