APerpsAgentcanton · delta-neutral

Perps — delta-neutral funding & basis

Live spot↔perp funding/mark across 29 perp venues + the ~800-token dynamic universe. Two edges: funding harvest (S-FUNDING) and cash-and-carry basis (S-BASIS). Detection/read-only — order placement, positions and P&L are reported by the proprietary executor/rebalancer.

Strategy: —halted — detection only (safe)executor unreachablerebalancer off
Funding accrued (24h)demo
$42.18
Basis realized (24h)demo
$57.9
Open notionaldemo
$6,000
Net deltademo
-$18.4
Universe (viable)demo
800
4380 links

Top annualized fundingdemo

ENA · bybit
-18.1%
BTC · hyperliquid
10.9%
ETH · hyperliquid
10.9%
BTC · bybit
8.9%
BTC · binance
8.2%
ETH · binance
3.0%
ENA · binance
-2.6%
ETH · bybit
-1.6%

Funding heatmap — asset × venue (annualized)demo

Asset \ Venuebybitbinancehyperliquid
BTC9811
ETH-2311
ENA-18-3·

Funding & markdemo

AssetVenueMarkFundingAnnualizedIntervalOpen interest
BTC/USDTbybit73,668.80.0081%8.92%8h—
BTC/USDTbinance73,661.40.0075%8.23%8h—
BTC/USDChyperliquid73,6690.0013%10.95%1h—
ETH/USDTbybit2,011.5-0.0014%-1.55%8h—
ETH/USDTbinance2,011.40.0027%3.00%8h—
ETH/USDChyperliquid2,011.80.0013%10.95%1h—
ENA/USDTbybit0.0881-0.0165%-18.07%8h—
ENA/USDTbinance0.0881-0.0024%-2.61%8h—

Basis opportunitiesdemo

AssetRoute (spot → perp)KindDirectionLegsBasisExp. fundingNet edge
BTCbinance → hyperliquidcrosscontangobuy spot / short perp38 bps9 bps27 bps
ETHbybit → bybitintracontangobuy spot / short perp25 bps3 bps8 bps
ENAbybit → binancecrossbackwardationsell spot / long perp-22 bps12 bps14 bps

FUND — perp⇄perp funding spreadsdemo

AssetLong venueShort venueLong rateShort rateSpreadMark divNet edge
SOPHhyperliquidbybitbase-87.00%5.48%92.48%6 bps89.00%
TURBOhyperliquidbinance-65.00%4.80%69.80%6 bps66.00%
YGGbybithyperliquid-63.00%10.95%73.95%6 bps71.00%
AIXBTgatehyperliquid-55.00%10.95%65.95%6 bps62.00%

P&L attribution — funding vs basis (24h)demo

Funding harvest
Accrued (24h)$42.18
Open positions6
Net delta-$18.4
Basis convergence
Realized net (24h)$57.9
Basis trades9
Avg net edge14 bps
Costs & ops
Rebalance fees$6.2
Finalized ops8
Basis by statusexecuted 5 · partial 1 · skipped 3

Open perp positions

VenueAssetSideSizeEntryMarkuPnLLevMarginLiq priceFunding
no open positions — live once the rebalancer reports them (P6)

Dynamic universe — coveragedemo

Viable tokens
800
Pairing links
5210
4380 viable
Intra-venue
640
no transfer risk
1 venue
111
2 venues
190
3-4 venues
210
5+ venues
289
AssetPerp venuesSpot venuesLinksViableBest basis
ETH2638524426 bps
SOL2635524426 bps
BTC2640524426 bps
AVAX2633524432 bps
BNB2532504326 bps
DOGE2429484132 bps
XRP2428484126 bps
LINK2326463932 bps
ARB2221443726 bps
WIF2018403426 bps
SUI2124423626 bps
OP2019403420 bps
APT2022403426 bps
SEI1817363126 bps
INJ1714342926 bps

Coverage map — spot↔perp pairingsdemo

BTC · spot [binance, bybit] × perp [bybit, hyperliquid] · 3 links
Route (spot → perp)KindQuoteRailBasisViable
bybit → bybitintramatchcex-spot-futures-5 bps✓
binance → bybitcrossmatchcex-withdraw-4 bps✓
binance → hyperliquidcrossUSDT/USDCdex-perp-deposit-3 bps✓
ENA · spot [binance, bybit] × perp [bybit, binance] · 3 links
Route (spot → perp)KindQuoteRailBasisViable
bybit → bybitintramatchcex-spot-futures-6 bps✓
binance → binanceintramatchcex-spot-futures-13 bps✓
bybit → binancecrossmatchcex-withdraw-7 bps✓