Two-Leg Perpetual Futures Orders for Opposing Positions

Summary

This document describes an execution utility for opening, closing, or reversing positions in two perpetual futures contracts. When opening, it calculates each leg's quantity from a shared per-asset value and the current ticker price, with a contract-value adjustment for one named exchange. The direction setting determines which symbol is bought and which is sold, creating opposing exposures across the pair. Separate options close any existing positions at market or reverse each leg by closing and reopening in the opposite direction.

The material is operational rather than a complete arbitrage strategy: it does not define a spread signal, hedge ratio, rebalancing rule, or conditions for entering and exiting based on relative pricing. It also provides no backtest or performance evidence. Users would need to account for market and contract precision, fees, funding, execution slippage, and the possibility that one leg executes while the other does not; the described shared notional alone does not ensure market-neutral risk.

Key ideas

• The utility opens opposing positions in two selected perpetual futures contracts.
• Each leg's order amount is based on a shared notional value and its own current price.
• Controls allow users to close existing positions or reverse their directions at market.
• The document does not specify a relative-value signal, hedge ratio, or tested arbitrage edge.
• Unequal contract exposure and execution risks can prevent the two legs from behaving as a neutral pair.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.