Perpetual Futures Funding Edge: The Crypto Basis Trade Manual

Run delta-neutral funding harvests across Binance, Bybit, Hyperliquid, and OKX. Compound double-digit yields without directional risk.

What's inside

• The full mechanics of perpetual funding: how 8-hour rates are calculated on the six largest venues and where the formula breaks during stress
• A spreadsheet for live funding APR comparison across BTC, ETH, SOL, and the top-30 alt perps
• Three delta-neutral structures: spot-short-perp, cross-venue funding arb, and quarterly-vs-perp basis trade — with worked PnL examples
• Margin and liquidation math: how to size leverage so a 3-sigma adverse move doesn't liquidate you
• Tax treatment notes for US, UK, EU, and offshore structures (general framework, not legal advice)

Live setups

• The funding-flip trade: how to position the 2-3 hours before an extreme funding turn
• Quarterly basis decay: capturing the carry into expiry on Deribit and Binance USDM
• Hyperliquid maker rebate stack: when the rebate alone beats most directional alpha
• Negative-funding ALT harvest: which alts have structurally negative funding and how to short the funding (not the price)

Risk + ops

• Cross-venue collateral routing: how to keep capital alive when one exchange freezes withdrawals
• The 4-tier liquidation defense: auto-deleverage, partial close, isolated vs. cross margin, insurance fund quirks
• Real-time monitoring: free tooling stack to alert on funding regime shifts within 30 seconds