??? SOL-PERP ??? BTC-PERP???Binance???Bybit???Hyperliquid???

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???1 ??? 8 ???

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historical funding rate alignment: 1-hour vs 8-hour timestamp mappingChronological UTC bar grid showing how Hyperliquid settles funding every hour (00:00–08:00 UTC) while 8-hour CEX contracts settle only at discrete 00:00 and 08:00 UTC snapshots. DISCRETE FUNDING SNAPSHOT ALIGNMENT ACROSS UTC TIMESTAMPS 1-Hour Clock (HL) 8 discrete events 01:0002:00 03:0004:00 05:0006:00 07:0008:00 8-Hour Clock (CEX) 1 snapshot at 08:00 00:01 – 07:59 UTC: $0.00 Funding Settled on 8h Venue 08:00 Common Backtest Bug: Applying an unadjusted 8-hour rate to every 1-hour bar overstates carry by 8.0x Only credit or debit funding when the simulated position is open across the exact settlement timestamp Verify contract interval adjustments · some CEX contracts dynamically switch from 8h to 4h or 1h clocks
Chronological UTC bar grid showing how Hyperliquid settles funding every hour (00:00–08:00 UTC) while 8-hour CEX contracts settle only at discrete 00:00 and 08:00 UTC snapshots. 教学示意图 · 非实时市场数据

???Binance???Bybit??? 8 ???UTC ??? 00:00???08:00 ??? 16:00???Hyperliquid ??? 24 ???

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Hyperliquid 1 ??? 1 ??? 1 ??? TWAP ??? ??4.00%
Binance USD???-M 8 ??? 8 ??? TWAP ??? 8 ??? ??0.75% ??? ??2.00%
Bybit USDT Perp 8 ??? 8 ??? TWAP ??? 8 ??? ??0.75% ??? ??1.50%

???Hyperliquid ???Binance ??? 8 ???

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negative funding rate and spot-perp basis discount dynamicsDiagram showing how a perpetual mark price trading at a persistent discount below the spot oracle index drives negative funding payments from shorts to longs. PERPETUAL MARK TRADING AT DISCOUNT TO SPOT INDEX (P_perp < P_index) Spot Oracle Index Price = $64,000 Negative Basis Discount = −$200 (−0.3125% below Spot) Perpetual Mark Price = $63,800 · Settled Funding Rate = −0.050% per 8h SHORT POSITION HOLDERS Pay Negative Funding Debit −$50 per $100k notional every 8h Cash Transfer LONG POSITION HOLDERS Receive Funding Rebate Credit +$50 per $100k notional every 8h Negative funding incentivizes arbitrageurs to buy perp and pushes short sellers toward cover decisions
Diagram showing how a perpetual mark price trading at a persistent discount below the spot oracle index drives negative funding payments from shorts to longs. 教学示意图 · 非实时市场数据

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open interest confirmation filter in backtest signal logicCausal point-in-time signal diagram showing how lagging open interest to closed bar t-1 prevents lookahead leakage while filtering breakouts by OI expansion. POINT-IN-TIME OPEN INTEREST FILTERING (NO LOOKAHEAD LEAKAGE) CLOSED BAR (t − 1) • Bar Close Price confirmed • Snapshot OI_(t-1) finalized • Bar CVD_(t-1) finalized Signal_t = f(Close, OI_t-1) BRANCH A: PRICE BREAKOUT + OI EXPANDING (> +5%) ✓ New capital entering trend → Model Next-Bar Open Entry (Bar t) BRANCH B: PRICE BREAKOUT + OI CONTRACTING (< −3%) ✗ Short-covering exhaustion only → Filter Out / Stand Aside Lookahead Audit: Never use Bar t closing OI to trigger an entry at Bar t Open Confirm timestamp conventions (bar-open vs bar-close tags) in your historical OI data provider before testing
Causal point-in-time signal diagram showing how lagging open interest to closed bar t-1 prevents lookahead leakage while filtering breakouts by OI expansion. 教学示意图 · 非实时市场数据

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  • ??? OI ??? ??? Binance???Bybit ??? Hyperliquid ???
  • ??? / ???OI ??? ???
  • ???Hyperliquid ??? Hyperliquid ??? OI ??? CeFi ???

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???Binance ??? Bybit ??? BNB ??? Hyperliquid ??? USDC ???

?????? PnL ??????SuperQuant ??????